Franchise Agreement and the Steps



Checking the Franchise Agreement
The franchise agreement is the contract between both parties (the franchisor and the franchisee) which sets out all the responsibilities and obligations of all the parties. Because the agreement is generally put together by the franchisor it will often tend to be favoured in that direction. This means that you will have to check it out with your lawyers and make any amendments that are not acceptable before signing.

You need to be very clear on each term that is included in the agreement and if you are not happy with any particular condition see that it is amended or deleted entirely. Remember that this agreement is a formal understanding of the franchise situation between both of the parties so every point needs to be fully clarified. There must be little margin of error to avoid arguments later on.

Whatever you do, make sure you obtain it in writing. Never, ever accept someone's word about a particular part of the franchise. Unless you have received it in black and white it will hold little water later on if there is a dispute.

Some of the points that need to be cove...

Membership required (FREE)

The rest of this article is freely available to StartRunGrow members.
Not a member? Join Here - Its FREE!