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If your question is whether this type of franchise/licensing agreement is permitted per the law, the answer is yes. You are free to structure the licensing agreement any way you see fit. The only issue you may run into is whether it would remain attractive to your client base to go into the licensing agreement with you (depending on how the numbers shake out). However, you are pretty open/free to do as you please.
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It depends on how in depth the agreement is. An attorney will likely bill you hourly for this type of work. Depending on the complexity of the agreement, it could be anywhere from a couple of thousand dollars for a simple agreement to the tens of thousands for something much more complex.
Also, the attorney's experience, time practicing, etc. comes into play as this would increase their billable hour cost.
You should use someone within your own state, but you are free to hire an out of state lawyer.