Hire a Franchise Attorney for “Location Services”
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Hire a Franchise Attorney for “Location Services”

Hire a Franchise Attorney for “Location Services”

One of the most important aspects of running a franchise business is as often overlooked as it is obvious. The exact location of your business is critical to your success in the franchise industry. Locating your business strategically can make the difference between success and failure, therefore, franchise companies, at least the good ones, make it a point to offer franchise location services as a central focus of their initial support to the franchisee. If you are going to invest millions of dollars in a franchise, it is also vital to have support when negotiating your initial real estate lease. Most large franchisors will have a department and attorneys exclusively for this purpose. Saving or paying thousands of dollars every month is critical and saving on this expense could help you during the early years of your business. Smaller franchisors most often do not provide dedicated location services, so it is up to you to hire a franchise attorney right away to analyze the location where you intend to locate your new franchise, and also to review and negotiate your location’s lease.

Hiring an experienced franchise attorney to analyze the lease that you are about to be signing can be one of the best investments you make and will help your business get a head start. A franchise attorney can help to detect any hidden charges contained in the lease that you may have overlooked. Hidden charges that are frequently overlooked are signage charges, having to pay a percentage of your revenues to the leaseholder, and having to pay a high monthly common area fee.

These are just a few of the many hidden charges you need to be made aware of before signing a lease for your franchise. Paying a franchise attorney a few thousand dollars in fees to do location services can save you many thousands of dollars if not your entire business in the early years.

source: https://www.entrepreneur.com/article/218184