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Eight Key Legal Questions To Ask Before You Buy A Franchise

[ 0 ] Oct. 17, 2013 | SBO Editor

Buying a franchise is a complicated procedure; you can learn a lot about franchising in general by visiting the website of the International Franchise Association: franchise.org.

Here are eight legal questions you should ask the franchisor before buying:

1. Do I face any personal liability or obligations?

2. Where is the franchise be located?

3. What type of trademark protection does the franchise have?

4. Will I be able to renew my franchise agreement if there is a term limit? What is the term limit, if any?

5. Will I be able to terminate my franchise agreement?

6. Can I sell my franchise?  Under what conditions?

7. What are the sources for the products that the franchise sells? What countries do they come from and are there any restrictions on these products in my state?

8. Do I have the right to transfer ownership of my franchise to another owner?

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Category: Features