Franchise Lawyer Interview - Dangers to Know BEFORE You Buy a Franchise!
Don't lose your money to a bad franchise!! James Ullman is a top rated franchise lawyer speaking with Pam Currie at Franchise City about things you need to know in the franchise agreement. Is your spouse automatically liable for your business losses in your state? Could you end up being personally liable for hundreds of thousands of dollars even if your business closes? And much more. Don't end up losing your money or buying a bad franchise always call Franchise City consultants!
0 - 0:48 Intro
0:49 - 5:19 What are Liquidated Damages? Can You Negotiate Them? Things to Watch For
5:20 - 7:50 What is a Personal Guarantee? Is Your Spouse Liable for Your Franchise?
7:51 - 9:25 Forming the LLC and the Franchise Agreement
9:26 - 19:54 Understanding the Franchise Disclosure Document (FDD) Basic Overview and Things to Look For.
19:55 - 24:24 Do You Need to Give Your Manager to Have a Minimum Equity Position?
24:25 - 26:00 What is Item 20 and is it Important? (Store Closures)
29:15 - 30:29 Franchise Disclosure Agreement vs Franchise Agreement
30:30 - 31:59 How to Reach Franchisees (and Ex-Franchisees!)
32:00 - 38:00 What are the Typical Fees Involved in a Franchise? Can You Negotiate Fees?
38:10 - 43:10 Item 19 and Financial Disclosures Regulations
43:11 - 45:25 Secret to Getting Additional Financial Details
45:25 - 49:45 Right of First Refusal and Selling/Renewing Your Franchise
49:45 - END Do You Need to Hire a Franchise Attorney Before You Buy a Franchise?
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