Britton Law, P.A.
Free Consultation For Injury Cases
910-401-3356
Due to precautions related to COVID-19, remote consultations via teleconferencing, Facetime or Skype are available. Please contact our office to discuss if this option is appropriate for your situation. Let’s all stay healthy and safe.

What to consider before becoming a franchisee

North Carolina residents and others may believe that buying a franchise is easier than starting a business from scratch. While that may be true for some, a franchise owner still needs to work hard to build his or her location into a profitable one. Generally speaking, a person who buys a franchise is responsible for hiring and firing workers and providing training. He or she is also typically responsible for paying rent and making sure that the building stays in good condition.

Another challenge of owning a franchise is following the rules set by the parent company. For instance, it may be necessary to pay to renovate a building on orders from the parent company even if they aren't needed. A franchise location could also be impacted by the reputation of that company. Those who are looking to buy a franchise should spend time learning more about that company prior to associating with it.

It is also important for potential franchise owners to think about the type of business at which they would be good at operating. It is also critical to take into account the cost of starting a franchise location. In many cases, there will be fees to start the company in addition to an ongoing royalty payment. Royalties can be as high as 6 percent or more of a franchise location's gross sales.

Individuals who are looking to purchase a business may find it worthwhile to hire an attorney or other advisers prior to closing on a deal. Having legal counsel may make it easier for a person to make sense of the purchase and other documents. When an individual understands his or her rights and responsibilities prior to signing an agreement, he or she generally has a better chance of avoiding disputes after it becomes effective.

No Comments

Leave a comment
Comment Information

Send Us An Email. We’ll Listen.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Britton Law, P.A.
2850 Village Drive, Suite 206
Fayetteville, NC 28304

Toll Free: 888-811-9738
Phone: 910-401-3356
Fayetteville Law Office Map

Britton Law, P.A. Office

Call Our Law Firm:

910-401-3356 ~or~ 888-811-9738
What to consider before becoming a franchisee | Britton Law, P.A.