Our franchise attorney, Eric Riess, reviewed the Service Team of Professional’s FDD and found it to be a fair document and a good representation of the company. He encouraged my client and I to do proper due diligence and gave suggestions on extra questions to ask the Franchisees. Eric went through each of the items that he was going to ask the Franchisor for. He explained why he requested them and was sure to check for understanding along the way. The call went well and at the end Eric let us know he would be negotiating the terms directly with the Franchisor.
It’s incredibly important to have a knowledgeable franchise attorney that can review the FDD and make it work for both the Franchisor and my client. Reviewing and revising the FDD should facilitate the investment in the franchise, not hinder it.
We called the Franchisor afterward and talked to him about any additional questions that we had. We let him know that our attorney was sending the memorandum with the requested changes to him and asked that he review it. One of the items on the memo was that the territory had not been defined yet. Next, we would began discussing territory.
