Before venturing into a huge capital investment, you should thoroughly investigate both the venture and the franchise agreement with the assistance of a lawyer.
Your Franchise Agreement will describe day-to-day operation of your business and will determine your roles and responsibilities as a franchise owner. It is vital for you to understand the payments you are required to make to the franchisor for a transfer of the franchise, whether they are refundable or not, and under what conditions they are returnable.
It is important to understand conditions concerning the rent or purchase of property, supplies, and equipment. You will also need to know what restrictions there may be on use of intellectual property, as these will affect your advertising and other business plans.
These are only a few of the many considerations which should be addressed before entering into a Franchise Agreement. SN Law Office can provide you with advice on franchise purchases, and can offer assistance in the establishment and on-going operation of your business.