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Legal Research Checklist
It is important to thoroughly understand all legal documents prior to signing them. This is a list of questions commonly asked by franchisees during the selection process. It is only a sampling, and is by no means complete, and should not substitute for competent legal counsel. Each opportunity is unique and not all of the items may be applicable. Likewise, there will be other items and issues that you will want to address for your specific circumstances.

Top 10 Questions:
  • Request the Franchise Disclosure Document (FDD) or other legal documents.
  • Hire a franchise attorney to review legal documents and an accountant to review financial statements.
  • Request ALL litigation be disclosed, not just those deemed relevant in the FDD
  • Request ALL franchisees who have left the system since the FDD was created.
  • Review franchisee's obligations to fully understand what will be expected of you.
  • Compare promised services from salesperson or management to REQUIRED services.
  • Review renewal, transfers, termination terms and develop an exit strategy. Try to amend any items that are not consistent with that strategy (non-compete, for example)
  • Make sure all items contained in the contracts are attached to the FDD
  • What major points of FDD have been changed in the last 2 years? Why?
  • What areas of the FDD have been negotiated by other franchisees?

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