So you’ve decided that franchising is the perfect solution for you, meeting both your business objectives and entrepreneurial spirit. You’ve done your research and have finally found the ideal proposition. But wait, what’s this? You discover the franchise you’ve chosen has put up a ‘no vacancies’ sign. What can you do?!
The answer could be to buy an existing franchise outlet.
Our expert franchise lawyers have years of experience dealing with franchise re-sales. We have an excellent reputation for progressing sales quickly and with as little complication as possible, while protecting your interests through thoroughly-drafted legal agreements.
If you are selling a franchise …
If you are selling a franchise, you will need to ensure that whatever steps you take are in accordance with your franchise agreement.
Review your agreement with a bfa affiliated franchise lawyer to ensure all your obligations are fully met. And once the sale has completed, you will need to confirm that all your liabilities to the franchisor have ceased completely.
If you are buying a franchise …
Expect to sign contracts with both the existing franchisee as well as the franchisor, and make sure you have carried out your due diligence and that you are protected with suitable warranties in your purchase agreement.
It always pays to take advice from a bfa affiliated franchise lawyer whether you are buying or selling a franchise.
Want to learn more about franchise resales? Get in touch to arrange a no-fee initial consultation.
Working with Goldstein Legal has been fantastic. From my first meeting with Roz [Goldstein], everything ran smoothly – no hiccups. The team listened to our plans and provided the legal advice we needed. Goldstein Legal know franchising inside out!”
Franchisor, Nick Lambert (Dream Clean Ovens), 2018