Legal Question in Business Law in Illinois
Franchisor's attorney fees for startups.
What would be a fair estimate for a law firm to charge a startup-franchisor to help start up ''automobile sales franchise'' -- hourly fee and or approximate total cost? Of course, this depends on a lot of things but a range would be appreciated?
1 Answer from Attorneys
Re: Franchisor's attorney fees for startups.
Attorney fee structures vary greatly. Some attorneys work on an hourly fee, which could range anywhere from $200 an hour to $800 an hour or more depending on the law firms billing rates. Other attorneys charge a flat fee for the preparation of the documents and registration of the documents with the required states, this could range from $25,000 to $75,000 or more depending on the complexity of the work and additional needs that you may have.
It is imperative to have an attorney that understands franchising and how to set up your franchise business.
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