In this episode of Merger She Wrote, host Paloma Goggins interviews franchise specialist Max Emma about what buyers and sellers should know before jumping into franchising. Max shares his path from immigrating to the U.S., building and losing a construction company in the recession, launching a nationwide bookkeeping firm, and ultimately franchising it—now described as the only bookkeeping franchise in the U.S.—plus creating a franchise brokerage to match candidates with hundreds of brands. They break down why franchising is capital-intensive, why franchise disclosure documents (FDDs) are complex and litigation risk is real, how territories and local presence affect success, and how wages and location can change unit economics. They also cover selling a franchise, including franchisor approval, lease complications, and why separate legal entities can help with exits and liability.