Franchise Lawyer Interview - Dangers to Know BEFORE You Buy a Franchise!

[@FranchiseCityOnline]

0 - 0:48 Intro 0:49 - 5:19 What are Liquidated Damages? Can You Negotiate Them? Things to Watch For 5:20 - 7:50 What is a Personal Guarantee? Is Your Spouse Liable for Your Franchise? 7:51 - 9:25 Forming the LLC and the Franchise Agreement 9:26 - 19:54 Understanding the Franchise Disclosure Document (FDD) Basic Overview and Things to Look For. 19:55 - 24:24 Do You Need to Give Your Manager to Have a Minimum Equity Position? 24:25 - 26:00 What is Item 20 and is it Important? (Store Closures) 29:15 - 30:29 Franchise Disclosure Agreement vs Franchise Agreement 30:30 - 31:59 How to Reach Franchisees (and Ex-Franchisees!) 32:00 - 38:00 What are the Typical Fees Involved in a Franchise? Can You Negotiate Fees? 38:10 - 43:10 Item 19 and Financial Disclosures Regulations 43:11 - 45:25 Secret to Getting Additional Financial Details 45:25 - 49:45 Right of First Refusal and Selling/Renewing Your Franchise 49:45 - END Do You Need to Hire a Franchise Attorney Before You Buy a Franchise?

[@pauljanicek1872]

Outstanding video!

[@FranchiseCityOnline]

Thanks Paul!

[@whyisblue923taken]

I appreciate that he didn't say, "of course you should get a franchise attorney". He seems to be a good one, but there are very bad attorneys out there and seeing how incestuous the field of business law is, I personally wouldn't get one and I would probably read all the information I could.

[@johndefalque5061]

Seems like all fast food has gone down the tubes since the plague. Some locations were only just allowed to let folks inside just 4 mos. ago.

[@FranchiseCityOnline]

Yep, franchises and independent ops. depending on the state were hurt badly. A few that pivoted to delivery actually came out ahead but overall its sad to see the damage done to so many operators. Thx for watching

[@Brotund26]

I had multiple Beef Jerky Experience franchises, the worst decision of my life, but I escaped. Stay far away!

[@FranchiseCityOnline]

Sorry to hear that - glad you got out and thx for the comment!

[@fastrakn1]

I imagine. Way too niche for one thing....