Can anyone tell me how to create a franchise agreement for a small business?
Introduction A franchise agreement is a legally-binding contract that outlines all aspects of the franchisor-franchisee relationship. From the specific role of each party to royalties and training programs, these agreements aim to ensure that each party knows exactly what is expected. When it comes to preventing litigation, creating the franchise agreement is an important step. Instructions Difficulty: Challenging Steps 1Step OneInclude a detailed summary of your franchise operations so that the prospective buyer will have a clear picture of your business, your products and your expectations. This also allows them to follow the standards you’ve set. 2Step TwoDiscuss in detail how your training program works, what types of support systems are available, the repercussions for terminating the agreement, royalty fees and appropriate advertising techniques. 3Step ThreeDetail your Franchise Advisory Council’s purpose, role and organizational structure in the agreement, if you have such a cou
