Before venturing into substantial capital investment, you should thoroughly investigate both the venture and the franchise agreement with the assistance of a lawyer.
Your Franchise Agreement will describe the day-to-day operation of your business. It will determine your roles and responsibilities as a franchise owner. Get a better understanding of payments you are required to make to the franchisor for a transfer of the franchise, whether they are refundable or not, and under what conditions they are returnable.
It is important to understand conditions concerning the rent or purchase of property, supplies, and equipment. You will also need to know what restrictions there may be on the use of intellectual property, as this will affect your advertising and other business plans.
There are many more factors to consider before entering into a Franchise Agreement. SN Law Office provides you with advice on franchise purchases and offers assistance in your business’s establishment and ongoing operation.