Before signing any franchise agreement you should consult a lawyer that specializes in that area. You should also consult with other franchisees that own the franchise, or franchises, you are interested in owning to learn the pros and cons of the franchise agreement or agreements. If you don’t learn everything you can about a franchise first and don’t consult with experts you are taking a huge risk. Franchise agreements usually include agreements several items including territory, training, franchise fees, lengths of the agreement, royalties and other fees, rights of franchise name use (trademarks, signage, patents, etc.), renewal rights, advertising and marketing assistance and rights, and termination and cancellation policies. Not understanding any one of these can be fatal.
I can’t state it strongly enough that you should acquire legal assistance before signing anything with any franchise and that you should research the franchise from top to bottom.
Disclaimer
RSS feed for comments on this post · TrackBack URI
Leave a reply