Due Diligence Very Important for Prospective Franchisees

Are you considering becoming a franchise owner? When done correctly, franchising is a great way of doing business for both franchisors and franchisees. Success is not guaranteed, however, and franchised businesses can and do fail. To improve their chances of long term success, prospective franchisees have to do their homework (lawyers refer to it as “due diligence”) before signing a franchise agreement and investing significant sums of money. RVA franchise lawyer Eric Perkins offers a variety of flat fee service packages for prospective franchisees (FDD and Franchise Agreement review and analysis, LLC and corporate formations, and ongoing “annual retainer” packages for ongoing assistance with legal and compliance needs). To help provide a basic framework for the due diligence review of a franchise opportunity, please take a look at the Perkins Law 100-Point Prudent Planning Test for Prospective Franchisees.

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