Like buying an existing business, should you consider buying a franchise brand, it had better that you consider seeking professional advice from financial advisors, business law lawyers to ensure beneficial future for your investment.
Share your concerns and requirements as a franchisee to Dev Smith Nguyen then we will do the rest to give you professional analysis, recommendations and advice.
Dev Smith Nguyen is able to give you endless support in the following activities throughout your franchise transaction:
– Finding potential franchises for sale
In case you might just have the intention of operating a franchise business with little reference to possible options, as a business law firm, Dev Smith Nguyen can recommend and connect you to relevant deals of your interests within our network system as well as from various sources that you can also access to such as:
- newspapers and commercial websites
- business brokers and real estate agents
- trade journals and industry magazines
– Making professional investigation of the targeted businesses
After pinpointing some businesses for franchise, our team at Dev Smith Nguyen will make a general analysis to each option by exploring them in all facets from legal to financial and business implications. There may be aspects of running a franchise in a particular industry that you might not have thought of. For examples:
- What are the business details?
- What is included in the sale?
- What are your rights and obligations?
- What fees must you pay?
- Do you have enough fund including borrowing capacity, working capital to successfully establish this type of business?
– Understanding franchise Code of Conduct
All franchise businesses, including franchisors and franchisees, are required by law to comply with the mandatory industry code, the Franchising Code of Conduct (the Franchising Code) which regulates the actions of franchisors and franchisees, make sure that prospective franchisees are properly informed about a franchise agreement before entering it as well as provides a cost-effective dispute resolution scheme for franchisees and franchisors.
Though the Franchising Code determines minimum standards of disclosure and conduct, it’s not intended to replace independent legal, business or other advice.
– Entering a franchise agreement
A franchise agreement is a legally binding document outlining the rights and responsibilities of the franchisor and franchisee.
Competent commercial solicitors at Dev Smith Nguyen will support to make sure terms and conditions in your franchise agreement comply with this Code of Conduct and reinforce your benefits as a franchisee before the official signing.
– Expired franchise agreement
You should be aware that a franchise agreement only gives you the right to operate that business for the life of the franchise agreement. There is no guarantee that the agreement will be renewed, unless specifically negotiated under the agreement.
We can make use of the cooling-off period to check your final facts and figures to determine if you still want to proceed as well as to deliver timing consultations for your future movements.
- Keeping updated and follow-up
Not leaving you alone, our professional solicitor team in charge is committed to keep track with your satisfaction even after the contract completion. We would like to go with you through challenges and difficulties on your very first day of harmonizing with your new business. That’s why, please find no hesitation to contact us as soon as you might get into any trouble.