Importance of a Franchise Agreement
A franchise agreement is a contract where the business person consents to grant the enterprise name or company system to someone or an entity (the franchisee). The agreement will characterize the foundation of the terms between both the consenting groups, defining the remuneration for the franchisee ( payment in parts is frequently in the way of royalties for the usage of the business trademark etc), conditions on the usage of the brand name, the extent of the agreement, and terms concerning disciplinary provisions, varying from penalty in money and allowance to withdrawing the business franchise and the contract.
Benefits of a Franchise Agreement
Defines The Guidelines
A franchise agreement permits the businessman who is franchising his company to define guidelines for the upkeep of quality in regards to the different facets of the trade before onboarding the client and binding them in a franchise contract.
With a franchise agreement in place, the franchisor can set guidelines to the manner in which the franchisee adopts the business and branding. Also, the penalties for mismanagement or violation of the business branding are also defined thereby to protect the brand name.
Franchise Agreement Process
3 Business Days
Upon contact, your request to file for a Franchise Agreement will be received and our representative will be in touch with you to take your request forward. If we need more information from your end, we will call you as and when required. After we receive all your details, our in-house lawyers and legal experts, will create the Franchise Agreement and send it across for your view within 2- 4 business days.
2 Business Days
Your original price includes two rounds of iterations. Therefore, if you need any changes done to the Franchise Agreement, and our lawyers will do the needful and send it across to you for your view once again.