Leslie Curran
speaker
582 appearances
2 recordings
1 series
first heard May 2010
last heard Aug 2010
Leslie Curran’s voice in public audio — every appearance, attributed to the second.
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Appearances
And those are the big pieces of what I would say in terms of doing your own due diligence on the broker and and doing your own due diligence about what you really need.
Yeah, that one's a good one too.
I mean it's typically they're probably you're gonna go to them first.
I guess I just didn't even think about that one.
There's a couple of pr there's you know, there's lots of provisions that I would
tell you to look at it, but I I the key points for me have always been making sure that everybody's roles and duties are clearly defined.
So making sure the broker knows what they're gonna do, making sure the franchiseer knows what they're gonna do.
And those two pieces really are important for the expectations um of of the parties.
Um, I think the other piece that's just absolutely crucial is
compensation piece, I think that it's not just um what's the fee, it's when is it getting paid, what triggers the payment.
Um the other big piece that that I think
a lot of people don't think about the what ifs and the compensation piece.
So it's the what ifs the the franchise agreement gets signed and and two days later you realize
you know, the bank won't produce financing for that franchisee or, you know, they can't find a site or they're not happy, whatever the case is, the franchisee walks away, you have to at least think about the fees already been paid to the broker.
Um and you're if you have to refund the initial fee back to the franchisee, you're coming out of pocket not just the initial franchisee, but whatever whatever amount you've already paid the broker.
And do we get to
You have to play out those what ifs in the compensation structure.
Yeah, and I think the other piece that's just um it's probably the most confusing um for a non lawyer is the indemnification provisions in a broker agreement.
Um they're crucial to the franchise or uh the franchise or needs to make sure that if there's and you talked about it last week a little bit, if there's a violation of the franchise sales laws
uh by the broker that the franchise that the franchise or gets indemnified gets basically made whole by the broker for that violation.
Showing 81–100 of 582 · page 5 of 30
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