In franchising your business, franchise consultants play vital role at every step. Every time their require help from a legal adviser which is best when you consult with franchise consultants. With every franchise business, the terms and conditions vary accordingly. But there are various general points which must be included in them as they will add so much benefit to the business.
Those various terms and conditions are:
- Term: There are various terms in franchise agreement covers but the important one which should be included is the age of the franchise i.e. how long it will last. Then what will be the procedure for the renewal and what are the terms for that. The termination criteria would depend on the performance.
- Territory: The territory section covers the information regarding the geographic area which that franchises will cover. It is to be explained here about the franchisee rights and the exact way of covering the borders of the franchise territories.
- Fees: Normally an initial fee is charged by the franchisers, for the sales royalties have been charged and management fee which is regularly paid. The additional cost is paid for the joint marketing.
- Restrictions: Many franchisers place some kind of restrictions which specifies the dos and don'ts for the franchisees. In this way specify about the way the franchisees run their business. They specify about normal staffing levels and from where the franchisee must purchase their stocks.
- Exit: Here you can include the points that what will be next if the franchisee decide to sell their business. This may happen due to any of the reason that they may fall ill or lack of funds etc. At such situation you must be stable to retain the control over the business.
For the further information, you can take help from any of the franchise consultants who are experienced and experts in their fields.