{"id":15668,"date":"2015-03-16T03:26:39","date_gmt":"2015-03-16T03:26:39","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=15668"},"modified":"2025-10-04T14:27:00","modified_gmt":"2025-10-04T18:27:00","slug":"5-stupid-reasons-for-not-using-a-franchise-lawyer-when-buying-a-franchise","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/5-stupid-reasons-for-not-using-a-franchise-lawyer-when-buying-a-franchise","title":{"rendered":"5 Stupid Reasons For NOT Using A Franchise Lawyer When Buying A Franchise"},"content":{"rendered":"

\"stupid<\/a><\/p>\n

When you’re\u00a0buying a franchise<\/strong><\/a>, you can either:<\/p>\n

A. Use the best resources available to help you lower your $$$$<\/strong><\/span> risk<\/p>\n

B. Try figuring it all out on your own<\/p>\n

There is no “C<\/em>.”<\/p>\n

Franchise Resources<\/h2>\n

There are all sorts of resources available for today’s prospective franchise owners. It’s stupid<\/strong><\/a> not to use them.<\/p>\n

Some of them are free…some are not.<\/p>\n

Some are great. Some are average at best…even weak.<\/p>\n

With all the choices out there today-because of the internet, you do have to be careful. Don’t choose just any<\/em> resource.<\/p>\n

Tip:<\/strong> Before choosing a resource, do a search on Google, YAHOO! or Duck Duck Go<\/strong><\/a> to see if there’s anything negative about the person or the company you’re thinking of using. One simple way to do it is by typing in the name of the resource followed by the word “scams<\/em>,” or something similar. “Lawsuits<\/em>” or “legal problems<\/em>” are also good search terms to use.<\/p>\n

You can try this technique right now. Go to your favorite search engine and type in “Franchise Scams<\/em>.” But, please don’t forget to come back, because\u00a0I’m going to share a few things about why some people don’t feel they need to hire a franchise lawyer<\/a> before they sign a 35-page franchise contract.<\/p>\n

A Franchise Lawyer Should Have Your Best Interests At Heart<\/h2>\n

In my capacity as a franchise ownership advisor<\/strong><\/a>, I’ve been able to help a lot of people increase their chances of success as franchise owners.<\/p>\n

But, here’s the thing; I’ve only been able to do so with clients that listened<\/em> to my suggestions and used them<\/em> in their pursuit of the best franchises around<\/strong><\/a>. Believe it or not, some people like to do their own thing.<\/p>\n

If you’re looking at buying a franchise business<\/b><\/a>–which is a major decision<\/em>, I beg of you to listen to the suggestions of people that have not only been there before, but have your<\/em> best interests at heart.<\/p>\n

\"Derek<\/a><\/p>\n

“Surround yourself with good people. People who are going to be honest with you and look out for your best interests<\/em>.”
\n-Derek Jeter<\/p><\/blockquote>\n

5 Stupid Reasons For NOT Using A Franchise Lawyer When Buying A Franchise<\/h2>\n

If you’re smart enough to hire a franchise attorney<\/strong><\/a> to look over all of the documentation you’ll be receiving as a prospective franchise owner, including the actual franchise agreement, (contract<\/em>) it’s pretty safe to assume (since you’re paying for legal advice and counsel)<\/em>\u00a0your lawyer will have your best interests at heart.<\/p>\n

But, you have to be willing to crack out your checkbook<\/strong>. This is not the time to be cheap.<\/p>\n

However, this is<\/em> the time to check out some (5<\/em>) stupid reasons for not using…for not hiring<\/em> a franchise lawyer before you buy a franchise.<\/p>\n

Here they are.<\/p>\n

1. The MBA Reason<\/strong><\/p>\n

I’ve worked with a lot of people that have MBA’s.<\/p>\n

Some of them are not only smart…and business-savvy, they’re realistic about the things they know and the things they don’t. But, some of them…well…<\/p>\n

“I don’t need to hire a franchise lawyer. I have an MBA, and I know a lot about business. I’ve also read and studied lots of legal documents. Reading a franchise document and a franchise contract isn’t rocket science. I’m sure I’ll be able to figure it out<\/em>.”<\/p><\/blockquote>\n

Riiiight.<\/p>\n

2. The CEO Reason<\/strong><\/p>\n

I work with a lot of CEO’s…ex<\/strong><\/em>-CEO’s actually. CEO’s that have lost their jobs<\/strong><\/a> and are “moving on to their next life adventure<\/em>.”<\/p>\n

Some of my best interactions have been with former company CEO’s and former company presidents. A lot of them now run very successful franchise businesses<\/strong><\/a>. But, a few of them have wanted to do their own thing.<\/p>\n

“I ran a $30 million company, Joel. I know how to read balance sheets, I’ve negotiated multi-million dollar deals, and I certainly know how to read a contract. I really don’t feel that I’ll need a franchise attorney to help me figure a lot of this out<\/em>.”<\/p>\n

OoooK.<\/p>\n

“People are getting smarter nowadays; they are letting lawyers, instead of their conscience, be their guide<\/em>.”
\n– Will Rogers<\/p><\/blockquote>\n

3. The Carved In Stone Reason<\/strong><\/p>\n

\"stone\"<\/a><\/p>\n

I’ve worked with a good number of clients who have told me the following when it came to franchise agreements…<\/p>\n

“I don’t see a reason to spend the money on hiring a franchise lawyer, Joel. it’s not like the franchise contract is negotiable. I’ve heard that franchise contracts are set in stone, anyway<\/em>.”<\/p><\/blockquote>\n

Not true, according to franchise development expert Michael Seid<\/strong>, who says that some<\/em> things may be negotiable in your franchise agreement.<\/p>\n

Like:<\/p>\n