TELESEMINAR: Franchise Agreements: A Practical Guide to Reviewing and Negotiating – A National Perspective
October 9, 2012
12:00 – 1:00 p.m.
1.00 MCLE hours
In many cities, franchises seem to be among the most successful businesses, reliable bets as entrepreneurs and investors seek to start and grow new ventures. The thinking is often that it is better to go with something that is tried and true – tested hundreds of times by others across the nation – than to start a business from scratch with all the risk that entails. The challenge for attorneys with clients starting franchises is navigating them through long and complex franchise agreements, including capital commitments, franchise fees and licenses, operating covenants, advertising commitments, training, reporting and more. The complexity of the agreements can obscure both opportunities and risks that your client may not immediately see. This program will provide you with a real world guide to the most important components of a franchise agreements, how to spot red flags, and negotiating with franchisors.
- Most highly negotiated provisions of franchise agreements and spotting red flags before clients buy
- Importance of the Franchise Disclosure Document (FDD) to the franchise agreement
- Fees – initial, ongoing, transfer and exit
- Territory of franchise – exclusive v. site only
- Marketing, advertising and technology commitments
- Term of agreement, renewal and termination provisions
- Franchisor services to franchisee, including training
- Timetables to open a franchise and transfer/exit from the franchise
Harris J. Chernow, Chernow Kapustin, LLC, Philadelphia