Franchise Agreement Set Up- September 21, 2021
Often, a franchisor controls and implements all the marketing and advertising of its brand. However, since the franchisee will also reap the benefits of these efforts, it should contribute to the costs. These fees are also described in detail in the Fees section, but it`s worth repeating and providing additional context about the fees, how often they are paid (i.e. monthly, every year), and the exact destination of the money. If you don`t want to sell your franchise or terminate your franchise agreement before the agreed date, it`s a good idea to have a termination clause. A franchise agreement protects both parties. It protects you as a franchisee and also protects the franchisee`s brand. If you buy a franchise, you will make a significant financial investment. A signed agreement gives you the right to protect your investment in your business. Goldman has warned that fees are rarely, if at all, on the agenda, especially for established franchises.