Top Franchise Legal Player: Mike Drumm, Drumm Law

Mike Drumm is the founder of Drumm Law, an acclaimed franchise law firm. He’s been recognized for his expertise with numerous accolades, including being named a Franchise Times magazine Legal Eagle and a Certified Franchise Executive by the International Franchise Association. His success is attributed to his practical approach, industry recognition and dedication to client service.

1851 Franchise: What do you see as the most important things franchisors should do to protect their brand?

Mike Drumm: Vet your prospective franchisees! I’m guessing you would date your future spouse before proposing marriage and spend time getting to know them. Make sure you put in the effort to get to know your prospects too before you enter into a franchise. The franchise relationship is a “business marriage.”

1851: How important is the information in item 19?

Drumm: There are 23 Items in an FDD. If a buyer could only see one item, it would have to be Item 19. I don’t care what the brand is, the investment cost, or fees — if the concept doesn’t make money, the other 22 Items are irrelevant. So, it is kind of important.

1851: What is the single largest legal mistake brands make?

Drumm: Skimping on a legal budget. Early on, it may be tempting to go with the cheapest legal option on offer or shudder try to do as much as possible without getting help.

This. Is. A. Mistake.

Ask any well-established brand and they have probably learned some hard lessons about the DIY approach. Just as you need to have a strong bond with your franchisees, a solid two-way relationship with a franchise lawyer is key.

1851: How do you stand out as a franchise law firm?

Drumm: We work hard, respond quickly, care about our clients, harness technology and don’t take ourselves too seriously. We also always have cake in our break room, which is good for morale.

1851: What is the best business advice you have received in your career?

Drumm: A client is not going to know that you drafted an amazing legal document, but they will know that you misspelled their name.