Pursuing Opportunities, Avoiding False Starts
Deciding to go the franchise route can be a good approach for the new entrepreneur in order to open a business without many false starts and stops. However, it is important to find the right franchise opportunity which has in place an established business model. That way, you can see for yourself whether the franchisor's vision for the business really works.
At the law office of Press, Potter & Dozier, LLC, our lawyers provide the one-stop service you need to put the whole franchise package together. From our office in Bethesda, our lawyers represent franchisees throughout Maryland, including the Baltimore metro area and Western Maryland, in Virginia and Washington, D.C., and across the nation.
Understanding the Obligations of the Franchisee
While the franchise model will provide many answers about getting started and running the business, it places many obligations upon the franchisee. Because this relationship establishes an added level of oversight by the franchisor and additional costs such as royalties, advertising and training fees, the federally mandated Franchise Disclosure Document (FDD) (formerly known as the Uniform Franchise Offering Circular (UFOC)) provided by the franchisor is one document you want to understand fully.
The FDD provides information about the history of the people involved in the franchise, what the franchisor says they will do for you, what you must do to remain in good standing, how much it will cost to get started, and how much you will pay in royalties. In addition, a number of states, including Maryland and Virginia, have their own franchise laws with which the franchisor's offering documents must also comply.
Obtaining Sound Advice at the Beginning of Your Venture
It is important to have someone familiar with the various requirements to go through the FDD to point out issues you should be aware of before you sign a multi-year agreement. Attorney Barbara Berschler can review the franchising disclosure documents with you and help you assess whether the franchisor's vision for the business will really work for you. Ms. Berschler, along with Dan Dozier, who has years of experience as a commercial mediator, can also offer guidance and assist you in your negotiations.
Because you often need to set up a business entity to buy an existing franchise operation, secure commercial space or obtain financing, it is good to have a law firm in your corner that can provide one-stop service to put the whole franchise package together.
For More Information
We invite you to contact us online or call us at 301-576-0936 (toll-free at 877-209-8759) to schedule an initial consultation. Our lawyers respond to calls and e-mails within 24 hours.
