If you have ever thought about purchasing a franchise you should firstly obtain the advice of a commercial lawyer. Here are a few tips to consider:
- Does this franchise suit your lifestyle? You should do some research into the time and expertise required to carry on the franchise business.
- Have a business plan – ensure you obtain advice in order to have a well-rounded appreciation of the risks involved in operating a franchise.
- Due diligence – is the franchise you are buying a viable business? Can you speak with current franchisees to get further insight into the day-to-day operations of the business?
- Obtain advice from a commercial lawyer. A franchise agreement may include hidden costs and fees that you may not be aware of. A commercial lawyer can provide advice to ensure you are well informed of your legal responsibilities and liabilities.
Contact our commercial team at Matthews Folbigg Parramatta for comprehensive legal advice on your franchise agreement.