Is It Wise To Choose Specialist Franchising Solicitors?
In our current economic situation people are choosing the option of franchising over starting up their own business from scratch. A franchise offers a tried and tested business model with a known brand, this can often be more safe and secure than ordinary business, which makes buying into a franchise a popular choice.
Similarly there are lots of people who are on the flip side of the coin. These are known as franchisors as they own the business brand etc and they choose to franchise it out to other people. The franchisors then usually take a percentage of the monies earned in exchange for making the franchises available- in effect renting out the use of an established business idea in return for a share of the profits.
As you may consider, both circumstances can be involved from the beginning to the end. There must be a formal agreement held between both parties - just one example of why it is important to get the right caliber of advice in each case, so that both sides stand to gain the most. If both sides come out of the deal happy then the chances of a future dispute become limited.
Franchising solicitors have a hugely varied number of tasks they may be required to carry out by either party. For example they may help a franchisor create a solid contract that can be signed by every franchisee that comes into the business. They may give advice on how the franchise needs to be set up in the first place. They can advise on all the legal aspects of the situation so that nothing happens later on that could be a problem.
Conversely franchising solicitors will also act for the franchisee. They can look over a contract before it is signed, and they can also act as legal representatives in a wide variety of situations, ranging from property matters to employment law, and are not just there to help out in the event of any franchising dispute.
While there is no legal need to have franchising solicitors on your side - whichever side of the coin you may be on -as you can see, there are many benefits to consulting the right professionals. In fact it can save a lot of potential problems and hassle at many stages of the franchises. After all, no one wants to take part in an expensive franchise dispute unless it is absolutely necessary to do so.
About the Author
Whether you are buying or selling a franchise, or involved in a franchise dispute [http://franchisingsolicitor.co.uk/franchise_disputes.aspx ], you are going to need the help of specialist franchising solicitors [http://franchisingsolicitor.co.uk ]. Contact the franchising specialists at Bonallack & Bishop first.
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