Franchises offer the opportunity for stability and success. By owning a franchise, you can avoid the problems that most startup businesses face: gaining a foothold with the target audience.
But it isn’t all a breeze with franchises. The good news is that with a little help from a franchise lawyer in Los Angeles, all of those potential potholes can be successfully navigated. Here are just a few of the best reasons to hire a franchise lawyer.
They Know What to Look For
There is a document known as the Franchise Disclosure Document (FDD) that a potential owner must sign before they can become official. There are a lot of things covered in this document, including information from the Federal Trade Commission (FTC).
Being aware of all that the FDD covers can be comprehensive and a franchise lawyer in Los Angeles can ensure that you are covered. That includes obligations and restrictions that, if they are not abided by, can result in franchise termination.
Choosing a Business Entity
Any good franchise lawyer in Los Angeles will advise on how the new business should be set up. Is it a Subchapter S Corporation? Limited Liability Corporation (LLC)? Far too many prospective franchise owners don’t know the difference before getting started.
With the help of the right franchise lawyer, you can be prepared to get off on the right foot. Know your legal liabilities and rights as a business owner and how the business will be taxed.
