Minneapolis franchisee lawyer Ron Gardner discusses why a prospective franchisee should hire an attorney.
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Well there’s a whole bunch of reasons that someone should hire a lawyer when they’re first looking at potentially buying a franchise. Most franchises of any repute are going to cost somebody tens of thousands and in most cases hundreds of thousands of dollars by the time that they pay for the initial franchise fee and then whatever assets have whether they have to get a facility or lease a location or build something out. And so when someone’s making that type of investment this is a complex, sophisticated, life-changing for most people type of investment and it just makes sense to spend a little money getting some professional help when you make that decision. People are surprised when they get that FDD, they typically run anywhere from 200-400 pages long, a very think legalese, the language the lawyers use and there’s a lot of traps that could be in there for people that are not educated.