What You Need to Know About Franchising
Maine may be known for producing 90% of the country’s lobster, but did you know a young lime-trader from Rockport created the doughnut hole at the age of 16? In fact, doughnut shops make up $8.3 billion of the QSR market, with an annual growth rate of 3%.
As a non-registration state, prospective franchise owners will have a shorter to-do list, but will still need to abide by the regulations set by the Federal Trade Commission regarding the franchise disclosure document (FDD). Note that Maine does require you to obtain a surety bond or establish an escrow account of at least $30,000 in order to be approved for registration unless you are headquartered in Maine.
Maine Franchise Filing Fees
$25
Initial
$10
Renewal*
$0
Post-Effective Amendment**
*Renewal filings must be submitted prior to the registration expiration date or we will be required to resubmit as a new initial filing
**Post-Effective Amendment filings must be submitted if you are making a material change to your FDD after your initial or renewal filing is approved
Notes
Registration is only required if you do not have a federally registered trademark with the USPTO
Maine requires you to obtain a surety bond or establish an escrow account of at least $30,000 in order to be approved for registration, unless you are headquartered in Maine
Maine requires the submission of the current FDD with each filing
Registration is only required if you do not have a federally registered trademark with the USPTO
Maine requires you to obtain a surety bond or establish an escrow account of at least $30,000 in order to be approved for registration, unless you are headquartered in Maine
Maine requires the submission of the current FDD with each filing
Maine is known for their dynamic telecommunications and infrastructure with the first ever statewide fiberoptic network.
(techdata.com)
There are multiple Maine tax incentive programs for franchises like Employment Tax Increment Financing and Pine Tree Development Status.
(Maine.gov)
The work ethic of Maine’s highly skilled working population (83% have post-secondary degrees) has an international reputation for quality and efficiency.
(techdata.com)
Maine Franchise Exemptions
Flat Fee Program for Franchisors
Spadea Lignana’s CORE program for franchisors is a cost-effective and practical solution for the ongoing legal needs of franchisors, including but not limited to, FDD updates, state registrations and franchise agreement executions. Through a proprietary cloud-based system we can effectively and efficiently manage FDD Disclosures and Franchise Agreement executions for fair flat fees billed monthly. We believe that hourly billing, although necessary in certain circumstances like complex M&A deals and litigation, can weigh on the relationship between client and attorney. By coming up with a fair flat monthly fee, the uncomfortable negotiating of whether or not a 6 minute increment in your bill for replying to an email was legitimate goes away.
Attorneys Who Understand ME Franchise Law
Franchise laws vary from state to state, and it can be difficult to understand the requirements. Spadea Lignana has streamlined the process to ensure you remain compliant as you grow nationally.
We also work with franchises in Pennsylvania, New York, New Jersey, New Hampshire, Vermont, Connecticut, Rhode Island, and Massachusetts.
