More In This Category
View Transcript
if you’re the franchisor you’re going to
need the fdd
uh and you’re going to need the
application from the franchisee and
you’re also going to need all of the
agreements which are exhibits to the fdd
but ultimately the franchisee is going
to have to sign them there’s going to be
a franchise agreement there’s almost
certainly going to be a guarantee
non-disclosure agreements there are
agreements that cover trade secrets
there is typically a um a marketing
agreement there’s also typically
uh a an agreement that uh that covers
your you know your your confidential
information and it also covers you you
know the the method by which you’re
operating uh your franchise there’s a
operations manual that the franchisor is
going to apply to you so you have a
variety of documents that the franchisor
is going to
require of the franchisee to sign if
you’re a franchisee and you’re selling
you’re going to you’re going to need
all of those documents because they’re
all going to bind the franchisee who’s
taking over your franchise but you’re
also going to need
all of your business information because
if you’re a franchisee you’re selling
your business so you’re going to need
your tax returns you’re going to need
your profit and loss statements you’re
going to need a statement and list of
all of your creditors because they’re
all going to have to be dealt with in
the purchase of the business so you’re
going to have
what the franchisor is going to require
plus what the franchisee
who’s selling the business needs to
provide for any prudent purchaser of the
business
New York, NY franchise law attorney Richard L. Rosen discusses the documents you will need to sell your franchise.