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Starting a franchise may be a great way to become a small business owner, without going through a lot of the growing pains that small business owners typically go through. However, franchising also has a lot of unique legal issues that other small business owners don't face.
With a franchise, the advantage for a business owner is that he or she is not starting from scratch.
Instead, the business owner (franchisee) is able to start with the brand, name recognition, and customer loyalty of a much larger chain (the franchisor). In exchange, the franchisee has to pay the franchisor a fee and possibly royalties on every sale.
However, starting a franchise may not be for everyone as there are many complex legal issues involved. Here are three common legal issues you should consider before investing in a franchise, as provided by MegaDox:
If you're thinking about starting a franchise, you should be aware of the many legal issues surrounding franchises. If you are new to business, it's probably a good idea to hire a small business attorney to review the franchise agreement.