Providing assistance with the preparation of franchise agreements is another part of the comprehensive franchise service we offer. We can recommend a qualified solicitor to help you draw up a franchise agreement to suit your individual requirements, or we can work with your chosen solicitor.
Our role is to make the process of drawing up a franchise agreement quick and painless. We can advise you each step of the way as well as sit with you and your solicitor while the franchise agreement is prepared. It is vital that you have a clear understanding of the contents of the franchise agreement before you sign the document and it is our job to work with you and your solicitor to review all aspects of the agreement.
What is a franchise agreement?
A franchise agreement is a legally binding contractual document drawn up between the franchisor and franchisee. The document explains the rules to be observed by both parties in the franchise including what is expected of the franchisee once they start running their business. It is there to provide a detailed outline on how the franchisee is expected to operate their franchise.
There are several main ingredients to be included in a franchise agreement and we can help you with all aspects of the process. Once it has reached completion, the franchise agreement will be signed by both the franchisor and the franchisee.
The document will contain a contract explanation that outlines the type of relationship between the franchisee and franchisor. It will also contain an operations manual detailing the guidelines the franchisee must legally follow while operating the business as agreed by the franchisor. A proprietary statement contained within the franchise agreement will outline details such as marketing and advertising procedures to be undertaken.
By its very nature, a franchise agreement is a very complex document. There are lots of different details covered by a franchise agreement. Our part in the process is to try and help you to save money. We can do this by determining in advance what needs to be included in the franchise agreement, and then outlining the details to your solicitor in a succinct fashion.
Time spent with a solicitor is likely to be expensive, so by working together to iron out any potential problems with the franchise agreement in advance of your solicitors’ appointments, we can streamline the whole process and save you money.