While you might think that the COVID-19 pandemic is the worst time to start a business, in reality, it is an excellent time to consider buying an existing franchise.
Find out exactly what franchise agreement opportunities exist right now. With a focus on small businesses and individuals, we can lead you through successful franchise litigation. Learn more about how to get expert franchise agreement attorney help by speaking with a San Jose Franchise Attorney.
Benefits Of Buying An Existing Franchise
Many people are considering the option of opening a new franchise to have a fresh start—but there are many reasons to buy an existing franchise.
- One of the main benefits of buying into an existing franchise agreement is that you already have a reliable existing customer base to build on in the business you are taking over.
- Additionally, as the buyer of the franchise, you would not only have the support of the franchisor, but you could also negotiate—alongside the help of an attorney review franchise agreement—with the franchise agreement seller for post-closing consultation, which generally happens in most transactions. That means you get access to the individual who knows the specific business, location, and community best to help you succeed. Learn 5 more essential components of purchasing a franchise.
Why Buy Into A Franchise Agreement During Challenging Economic Times?
With small businesses struggling right now, it may seem counterintuitive to purchase a business—but it can be an excellent opportunity for those interested in buying into a franchise agreement.
- A lot of franchisees are struggling and looking for a way out right now. This creates an opportunity to buy into a franchise agreement at a much lower price than what it had been valued at before the pandemic-wreaking havoc. The brand recognition of a typical franchise also would help it bounce back faster when the economy inevitably bounces back.
- We have not yet seen franchisors discount franchise fees or royalties for start-up franchises on a grand scale, so by buying an existing franchise operation, you can likely tap into that established brand at significant cost savings. Given your financial resources and experience, you may be able to help the business thrive in a way the previous owner could not.
What To Look For
Naturally, it would help if you did your due diligence before investing in any business, and you should not underestimate the current recession’s impact on the future of the franchise.
- First and foremost, make sure there is consistency at the financials of the franchise agreement unit as well as the overall health of the franchise system.
- Second, research alongside a professional franchise agreement attorney the general direction of that industry and decide if it is a fad or a sector that has had long-term sustainability.
Like any long-term business decision, buying a franchise is a decision you should not take lightly, nor go into alone.
Do you need franchise agreement legal assistance? As a franchise agreement buyer, you may have several options available, including consulting with an experienced franchise agreement attorney who can give you advice specific to your situation.
Discover Expert Franchise Agreement Attorney Help
We help clients facilitate asset purchase agreements, attorney review franchise agreements, and reviews of franchise disclosure document lawyer (FDDs)—alongside our team, you can tap into the franchising market during this global pandemic.
Our legal help is built on a foundation of offering personalized franchise litigation and franchise disclosure document lawyer assistance for every one of our clients. We recognize not all legal cases need massive litigation to achieve your goals and objectives.
Ready to speak to a franchise agreement attorney? Contact us today, or call 408-457-9364 for immediate help and guidance.