If you consider buying or selling an existing franchise business, having a trusted legal advisor to help you navigate the complex process is crucial. With years of experience advising both franchisors and franchisees, Ashley Nielsen focuses her practice solely on advising prospective and current franchisees. Whether you are the buyer or seller in the resale of a franchise business, Ashley has the knowledge and skill to assist you throughout the entire process. She works with clients throughout the United States.
Buying or selling an existing franchise is a complex transaction involving multiple parties and detailed legal documents. The transaction is subject to the transfer provisions in the seller’s current franchise agreement. To complete the resale, the seller negotiates a purchase agreement and other documents with the buyer. The buyer must also enter into a separate franchise agreement with the franchisor.
Whether you are a buyer or seller, there is considerable background work to accomplish before you even get to the point of negotiating the agreements for sale of the business. Talking with franchise lawyer Ashley Nielsen early on is the best way to get started. She will explain the overall legal processes necessary to accomplish transfer of the business and review the specific steps you should take as the buyer or seller.
After you get started, Ashley then guides you through the process, making certain that you have the knowledge to make informed decisions along the way. She can assist with development of your strategy for buying or selling the business, negotiations of the terms of the legal agreements, preparation and review of the documents needed to accomplish the transfer, and review of the FDD and Franchise Agreement.
If you decide it’s time to exit a franchise business, checking your Franchise Agreement is one of the first steps to take. The agreement likely contains provisions that control transfer of the franchise, as well as your legal obligations in the event of and after transfer of the business. Reviewing those provisions with a lawyer is the only way to make certain you fully understand the legal requirements for resale of your business.
As a seller, you also need to gather all the documentation that buyers will use to complete due diligence prior to the purchase, including franchise documents, lease agreements, and financial records. Compiling and reviewing the documentation with your lawyer is a good way to ensure that your information is complete and does not contain errors or omissions.
You need a strategy for informing the franchisor of your intention to sell, deciding when and how to inform your employees of your decision, and determining how to make the business available for purchase. Your lawyer helps you establish a sound strategy before you even embark on the process, as well as decide how to establish a valuation of the business to arrive at a sale price.
Franchise lawyer Ashley Nielsen has the experience to help you sell an existing franchise business and serve as your trusted advisor throughout all the stages of the process. She can also assist you with negotiations with the franchisor and buyer.
Buying an existing franchise business can save a lot of the time and groundwork that accompanies establishment a new franchise business. The complexity of the transaction and necessity of conducting due diligence make it essential to enlist assistance from a lawyer to advise you throughout the process. Without a trusted advisor of your own to guide you, the process is likely to be overwhelming.
Franchise attorney Ashley Nielsen has the knowledge and skill to make sure you gather and review all the important information relating to the business and to acquisition of the franchise. She also reviews all the legal documents that comprise the transaction and represent you in negotiations with the franchisor and the seller.
Due diligence in purchase of an existing franchise business involves finding answers to many questions about the existing business, including the basic question of why the franchisee is selling. Ashley draws on her years of experience representing both franchisors and franchisees to ensure that you collect all the pertinent information about the finances and operations of the business.
As the buyer, you also enter into a Franchise Agreement with the franchisor that controls your operations after you purchase the business. Having your own lawyer review the agreement and the FDD is extremely important, to make certain you fully understand all the terms that apply to operation of the franchise. In some cases, you may wish to negotiate terms in the agreement.
Ashley Nielsen focuses her practice on helping prospective and current franchisees, including individuals considering purchase of an existing franchise business. She guides you throughout the entire process to ensure that you get all the necessary information, evaluate the documentation thoroughly, understand all the terms of the legal documents, and make fully-informed decisions every step of the way.
If you are considering buying or selling an existing franchise business and would like to talk with Ashley Nielsen, please call (919) 335-3815 or use the online contact form. Nielsen Franchise Law provides legal services to franchisees throughout the United States and welcomes inquiries from referring attorneys, franchise brokers, and other professionals.