Top Franchise Legal Players: Craig R. Tractenberg, Partner for Fox Rothschild
The New York and Philadelphia-based legal partner and expert in franchise law has developed a wide range of brands and franchisees across the country.
Craig R. Tractenberg is a legal partner for the law firm Fox Rothschild, representing greater Philadelphia and New York City. He has provided legal insights for an abounding number of franchise leaders over a 40-plus-year legal career. Tractenberg also handles domestic and international dispute resolution, infrastructure development, legal licensing policy and distribution policy in addition to his duties in franchising, providing a comprehensive legal service for all prospective clients and business models.
To maintain a sustainable practice, he recommends prospective franchisees pursue brands that have ample support and dedication to their business owners. “You have to make sure that the franchisor is going to have your back if you’re going to have a problem,” he said. “It’s hard to assess that going in, but you can assess that by looking at how the franchisor treats other franchisees.”
Tractenberg also advises prospective franchisees to reach out to current franchisees with the brand and ask them about their experience. “I’d really talk to every franchisee I could that has a relationship with the franchisor, and listen to what they say,” he said. “They aren’t likely to tell you anything they don’t like about it, but they will tell you anything that is really bothering them.”
Tractenberg then advises prospective franchisees to address these details in the signing process. He believes a legal representative can save an owner a lot of time and money with some advanced service and planning.
Watch the full interview with Tractenberg above, or click here to watch it on YouTube.