Instead of starting a new business from scratch or buying an existing business, some entrepreneurs choose to sign up with a franchise. A franchise business is a business in which the owners, or “Franchisors”, sell the rights to their business logo, name, and operational model to independent operators called “Franchisees”. This gives the Franchisee a kick start by enjoying the benefits of the goodwill and brand of the franchised business, as well as receiving training in the business and marketing and promotion by the franchisor. Although a franchisee will not have as much control over the business as he or she would have if they opened their own independent business, they do get the benefit of investing in an already-established and proven brand and business model.
The rights and obligations of this arrangement are contained in a Franchise Agreement prepared by the Franchisor. Franchise Agreements can be very complex and are written in a way to favour, benefit and protect the Franchisor much more than the Franchisee. Having experienced legal counsel can be invaluable in these situations. With over 20 years of experience in franchise and business law, Dimitry Beluli can assist and guide you with your Franchise Agreement.
Dimitry Beluli can assist you with:
• Understanding your Franchise Agreement and your obligations
• Deal with the termination or expiration of the Franchise Agreement
• Establishing and understanding non-compete provisions