Why you need a Lawyer for your Business

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Departments of Business in Franchising....5

Run a better small business! Learn how to get a lawyer for your business in this free video clip about business financing.

Part of the Video Series: How to Franchise Your Business
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Video Transcript

In this segment; getting the lawyer. You're going to need a lawyer when you're franchising. The documentation is horrendous. The disclosure documents. Something I wanted to tell you about disclosure documents. One of the reasons you want your systems, you want those franchisees to succeed, it puts money in your pocket. If the systems are right they will. If they follow them, so make it possible they follow them. It all has to be within your systems manual as well as your disclosure document. In your disclosure document, you're going to have to say if you've had any businesses that have not made it. It's going to have to be in there. You want be able to provide in that disclosure documents phone numbers of successful franchises that you already have so that they can make the phone calls and to see how they feel about it. Now, you may be starting and say how am I going to do that, I don't have any yet. Well this is where you start out with a lower price your first few franchises. As you grow in value and visibility in the market place, you'll raise the price of your franchises, but there's going to be some people who are going to get in early and in a few years they can be absolutely delighted at the fact that they got in cheap and when they to sale their franchise somewhere in the future when they're ready to retire or move on to other things, they're going to have a very valuable asset in their hands. So you're doing something great here. You're putting to people to work in their own business and helping them employ others, and what a way to live your life.

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