Bywater Timms Laywers advise prospective franchisees not to rush into anything

"Don’t rush" is the advice Bywaters Timms Lawyers give to prospective franchisees seeking to acquire a new franchise. Many franchisees seek legal advice before purchasing a franchise because making the wrong decision can negatively affect finances, health and personal relationships.

Bywaters Timms Lawyers, experts in franchisee advice, have counselled hundreds of prospective franchisees on issues to consider. Underpinning these considerations is their insistence on not rushing into anything.

The prospective franchisee is urged to consider how suitable franchising is in matching their personal goals and character with financial status and the limitations and challenges involved in operating a franchise.

It is important to investigate the franchisor, their franchise system and its development as there are an abundance of choices at hand and different methods of training and ongoing support available. Asking questions like,

• When did the company begin franchising?’ and, 
• ‘Why did they decide to franchise?’ may help the prospect make an informed decision.

Bywaters Timms Lawyers advise prospective franchisees to read through every scrap of paperwork and "talk to people" including solicitors, accountants, financial advisors and the bank as well as current franchisees to gain further franchisee advice. 

While franchising can ensure a proven system for success, it is not a guarantee and Bywaters Timms Lawyers state the franchisee must still;

• Follow the system,
• Not expect the franchisor to do everything,
• Recognise their own abilities and deficiencies, and 
• Work hard.