Does a prospective franchisee need an attorney before buying a franchise?
A. Because a franchise usually involves fairly complex legal agreements and a very substantial financial investment, a potential buyer should consult with both a financial advisor and an attorney before making a commitment. That is no guarantee of success, but it is usually a small price to pay before making a very big investment. The same is true in regard to a commercial lease, which can involve a very long term and expensive commitment. As usual, advice tends to be worth what you pay for it, but it is important that you understand what your contract means and may mean. An exit strategy is an important part of business planning.
