Business Lawyer – Advice for Franchisees

Providing independent legal advice to intended franchisees

Starting any new business can be a daunting experience without the right help, regardless of whether you’re inexperienced or a seasoned entrepreneurs. If you’re looking at buying into a franchise, you’ll need to pay special attention to the franchise agreement and disclosure documents to understand your rights and obligations under that franchise. After all, that’s what’s going to be controlling your franchising life.

To help you along this journey and aside from all other requirements determined by law, you must obtain independent legal advice before you enter into the franchise agreement. We assist many clients who have taken up franchises in various industries, especially the fast food business – but we’ve also consulted just as many clients who have had issues with their franchises and franchisors, or who have wanted to exit the franchise because it’s not as easy as they had initially thought.

They key is about choosing your franchise carefully. Understand what the franchise is offering to you and how they’re going to support you. What’s the value of the franchise? That’s what you’re paying them for, isn’t it? In most cases, your accountant will also be a good source of advice in relation to your future plans of being a franchisee and the business goals that you’re setting for yourself.

Author: Ern Phang

Ern Phang is the solicitor director of Phang Legal and has practised law since 1998. He has extensive experience in providing legal assistance to small and medium businesses, developing business policies and procedures, and improving corporate management and governance.