How To Vet Your Franchise Investment Due Diligence Lawyer

Everyone who gets fleeced says that they went to a lawyer for advice before they invested in the franchise. My clients never get fleeced. If you don’t feel like hiring me to help you, at least find out what the qualifications of the lawyer you like are.

Since so many people who go to lawyers before buying a franchise get fleeced and end up in bankruptcy – and since so many of them could have avoided being fleeced if they had seen a lawyer who does franchise due diligence a lot, I will provide a simple road map for vetting your franchise investment due diligence lawyer.

You must ask the sumbitch the following questions:

• How long have you been assisting people with evaluating franchise investments?
• How much of your practice involves franchise investment due diligence – what percentage of it?
• What do you do besides reading the FDD and the contract?
• Do you analyze the deal itself from a business investment perspective, or are you only doing the legal work of telling me about the contract and the FDD?
• How closely do you follow the business news about the areas in which you give franchise advice?
• Will you be giving me business investment advice in this assignment, or only the legal interpretation work?
• If you do provide investment advice, how do you go about analyzing the franchise offer that I am looking at?

If you don’t get professionally competent answers to all these questions, you are not talking to a competent franchise investment due diligence lawyer.