In this video, Minnesota franchise attorney Aaron Hall talks about what you should watch out for before buying into a franchise, and how you should research a franchise before buying into it.
Research the Franchise
Talk to other franchisees of the franchise to learn about their experiences. Speaking with a franc
- What challenges does the franchisee face on a daily basis?
- What does it take to succeed in the franchise?
- Is the cash flow continual or cyclical?
- What marketing efforts have been successful for the franchisee?
Speak with the Franchisor
- Inquire about what support the franchisor provides its franchisees
Meet with a Franchise Attorney
- An experienced franchise attorney should analyze the franchise agreement to make sure that its language aligns with your expectations.