How does a local hamburger restaurant become the most popular restaurant on earth? Franchising, of course. But there is one subtle, yet critically important step in the process of franchising that can decide whether a franchise explodes into the popular consciousness or is simply left behind: the drafting of your franchise agreement and FDD’s.
To some, these papers might seem like a legal burden. But in reality, the more engaging these documents are, the more likely it is that your franchise will prosper. That’s certainly the feeling of franchise lawyer and blogger Charles N. Internicola, who has written extensively on the subject of franchise agreements.
In a recent post on his New York Franchise Law blog, Charles urges business owners considering expansion to view the FDD and franchise agreement as “a collaborative process focused on the development of a critical "asset" that uniquely reflects, identifies and protects the components of your business...franchise and franchise system.”
When starting a franchise keep in mind that all agreements are not the same and and that your input will be critical to insuring that your agreements and disclosure documensts reflect the unique nature of your business. This is no easy task and is not one that is not simply delegated - an in-depth working relationship with your franchise lawyer is required.
This is valuable advice for anyone expanding into franchising. Stick with Charles’ blog for more insight on the particulars of franchise law.