Franchising is an increasingly popular form of business ownership which allows you to operate your own business under the banner of an already established business.
There are many important issues to consider as each franchise is unique and can have multiple parties, such as a landlord and licensor distinct from the business owner.
As a franchisee, you must consider the following issues:
- Length and cost of the agreement;
- Reputation and trading record of the franchisor;
- Advertising budget and back-up services offered;
- Fees payable to the franchisor;
- Terms of sale for goods supplied by the franchisor; and
- Obligation to conform to the franchisors business practices.
As a franchisor, you will need to comply with the Franchising Code of Practice; and meet specific requirements of the franchising agreement and disclosure document.
Our solicitors have in depth knowledge of all aspects of business structures and contracts in addition to specific experience with franchising.
We have acted for Franchisors in the establishment of franchise documentation. This allows us to offer you the best advice in your new business venture.
Please contact our office for your first free consultation.