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Sample franchise contract
This sample agreement is for illustrative purposes only and must not be used by any party seeking to franchise their business without taking the author’s prior advice. See also master franchise contract.
Role of disclosure in reducing risk for both parties
Risk management by franchisors is an essential part of their international strategy and roll-out process. Those who fail to identify, reduce, and then manage the remaining risk do so at their peril. They should anticipate spending large amounts of time and money seeking to extricate themselves from the quagmire of litigation.
Remedies if the franchise affair must end
A franchise relationship should be capable of withstanding the test of time. Indeed, the lack of failure among franchisees, as highlighted annually by the NatWest/BFA survey, is one of the strongest selling points of franchisors.
Turning your business into a franchise
More and more businesses are quite rightly considering the opportunities and benefits offered by franchising when planning their future development. Indeed, any business which operates through branches should at least look at franchising as one of the potential strategies for growth.
Financial aspects of launching a franchise
There are a number of financial aspects which need to be addressed by a prospective franchisor when formulating a development plan and I propose to look at three key areas.
How do I recruit franchisees?
Of all the issues that arise for both would-be and existing franchisors none come higher up the scale than franchisee recruitment. If you are a potential franchisor you will have much work to do before placing your first advertisements and we shall explain the elements you need to consider.
Setting franchise fees
One of the more emotive aspects of any franchisor/franchisee relationship is that of the franchise fees. The setting of fees, both initial and ongoing, is very much a balancing act to ensure that both the franchisor and the franchisee achieve the rewards they deserve for their respective contributions to the business.
Making sure the blueprint is right
The preparation of the operating manual is the least exciting part of launching a business-format franchise, but it is nevertheless vital to the success of the system. This is the one document that enables each franchisee to replicate the system in every detail, and provides the franchisor with the closest it can get.
Setting targets for franchisees
Whatever type of franchise a franchisor is granting – development rights, regional/ master franchising rights, or the rights to operate a single unit – it faces the common problem of resolving the difficulty of dealing with the different comfort thresholds of its franchisees.
Franchisee associations: friend or foe?
Certain words can strike fear into the hearts of the bravest. For some, it’s “dentist”, for others, it’s “year-end results”, and for some, it’s “I do”.
Franchise World