Once you’ve made the decision to become a franchisee, what should you expect next? In this follow up to his first legal talk, Chris Zirke covers a range of important lease terms to negotiate, that will be important along the path of franchising. Listen to this brief talk to learn about the balance between franchisees, landlords, franchisors, and find out what to expect after the franchise agreement is signed.
In Part One of this series, Chris explained which factors to consider when deciding whether to buy a franchise, and the steps to take before becoming a franchisee. Find it here: www.gertsburglaw.com/blog/10min-zirke-franchise1
Listen to the conversation on the audio player below, or download Chris’s talk to listen off-line (right-click on the link and select “save as” to save to your device):
INTERVIEW NOTES:
* 0:26 The main legal issues facing a franchisee: Commercial Lease and requirements for build-out
* 1:37 Finding the space and negotiating your LOI and lease terms; The role of brokers and attorneys
* 4:20 Real Estate Lease – considerations (rent, terms) and matching expectations (franchisor requirements, tenant allowance, etc)
* 6:52 Inspections (city & franchisor)
* 8:01 Other concepts to negotiate in lease – signage, exclusivity, security deposit
In the third part of this series, Human Resources and Your New Franchise, Chris reviews the nuances of managing employees for franchise owners: how to properly classify employees, the importance of accurate job descriptions, and why it is essential to have and maintain an Employee Handbook. Listen here: www.gertsburglaw.com/blog/10min-zirke-hr/
Chris Zirke‘s practice is focused on franchise law – counseling and advising both franchisors and franchisees throughout their respective business cycles. As a former business owner and franchisee, he understands the legal and operational challenges that accompany both franchisors and franchisees, helping him guide clients through franchise selection, FDD review, pre-operations, operations and post-operation issues. Chris Zirke can be reached at [email protected] or by phone at (216) 409-9590.
Visit franchiseelegalcenter.com for more information on our services for potential franchisees.
Additional 10-Minute Legal Talks with the attorneys of Gertsburg Law Firm can be found here, or visit our News and Resources Center for other audio interviews and videos with free legal tips for your business or estate. Now, you can also find these talks on the Gertsburg Law Firm YouTube page, along with videos from our seminars and interviews with our attorneys.
The Gertsburg Law Firm produces these 10-Minute Legal Talks to give insight into legal issues for non-lawyers and to share our experience with the community. The contents of this interview are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
