Give franchise counsel the complete transaction

Describe the proposed arrangement

Explain whether you are opening, buying a resale, adding units or changing ownership. Identify the proposed state, premises, financing and partners. Provide the complete current disclosure package and related agreements through the adviser’s verified process.

Ask about relevant franchise experience, licensing, scope and conflicts. An introduction from a seller can be useful while still deserving an independent assessment of the adviser’s role and compensation.

Ask what the review includes

Clarify whether the engagement covers disclosure, franchise rights, lease, financing, guarantees, entity structure and closing conditions. Different documents may need different specialists. Request an explanation of what is included, what is excluded and how additional work is authorized.

Tell counsel about material statements made during the sales process and questions that remain unanswered. Preserve actual documents and correspondence rather than providing only a summary assembled from memory.

Leave time for follow-up

Schedule review before commitments become urgent. Ask how findings will be explained and what questions require another party’s response. Legal review should help you understand obligations and choices; it is not a guarantee of business performance. This supplier guide is educational and does not constitute an endorsement of any law firm.

Put it on paper

• Share the complete transaction and current documents.
• Clarify scope, conflicts and additional charges.
• Allow time to resolve material findings.

Continue with the franchise research checklist, our FDD guide, and the research directory.