Franchising is a business relationship between you, the franchisee and owner of the business the franchisor. Buying a franchise involves paying the owner of the business for the right to market and sell their stock and or services for a specified period.
There are two main types of Franchises:
Entering any small business can carry with it a degree of risk and every situation will be different. It is therefore important prior to purchasing a franchise that you consider the following factors:
Buying a franchise is a serious decision, if successful it could secure your future financially, if not, you could suffer significant financial loss.
At Briese Lawyers, we can assist in providing legal advice regarding Franchise Agreements, including negotiations on the terms of the Agreement, Disclosure requirements and associated lease advice for the premises out of which the business will be conducted.