Legal Advice for Buying or Selling a Franchise
Becoming a ‘franchisee’ is a great opportunity to own and operate a successful business, using an established brand and business model which compliments your business skills.
Buying a Franchise
In order to buy into a franchise, you will need to sign a Franchise Agreement with the holder of the franchise rights,(whether the franchisor or a master franchisee). Franchise Agreements are often lengthy, complicated documents which are generally weighted in the franchisor’s favour. We specialise in advising you on the journey of becoming a franchisee by making sure you fully understand the agreement you will enter into and have asked all the important questions you need to of the franchisor.
Also, more and more people are entering the world of franchising by purchasing an existing franchise business, known as a ‘franchise resale’. Opportunities to benefit from this may arise when the original Franchisee is considering retirement, relocation, or pursuit of other business interests. The best exit for such a franchisee is often to sell their business as a “Franchise Resale”.
Selling a Franchise
In turn a potential purchaser of a Franchise Resale is likely to be an individual seeking the traditional benefits of franchising (training, support and a proven business model) as well as some of the following advantages:
- Brand recognition
- Track record
- Cash flow
Established Customer base
With some Franchise brands reaching saturation in the UK, to the extent that you can only buy a franchise via a Franchise Resale (rather than through the traditional approach of acquiring a virgin territory), we predict that the number of Franchise Resales taking place will continue to grow year on year.
Through our many years of experience, we have helped many franchise owners sell their franchise and, vice-versa, and we have also helped numerous new franchisees purchase a franchise resale opportunity.
We offer a free initial consultation to anyone seeking franchise legal advice. We are always competitively priced, pleased to discuss costs with you and, where appropriate, will endeavour to agree a fixed fee for our involvement. David Kaye is also a British Franchise Association (BFA) Accredited Lawyer.
We're Always Here to Help
Legal 500, Ranking analysis 2018 - "Harper Macleod LLP 'excels at finding practical commercial solutions' and 'delivers easy to understand advice'. David Kaye leads the team and is particularly strong in retail franchising.
Call us for free on 0330 159 5555 or complete our online form below for legal advice or to arrange a call back.
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