Purchasing a franchise? What you need to know now. | Legal Advice from a Sunshine Coast Lawyer

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One of the most popular business models is that of a franchise. As the owner of a business franchise, you are able to sell its products and or services for an agreed time.

If you are thinking of buying a franchise, it is imperative you properly understand the contracts you are entering into before making the decision to purchase.

To begin with, you may be required to lease a premises and if so, you must fully understand your rights and obligations. For example, payments, refurbishments, and end of lease responsibilities. Another thing to ask is, are your lease dates the same as your franchise agreement's start and end dates?

Furthermore, you need to know if there will be a marketing fund created by the franchisor and if you need to make any contributions to this.

Another thing to consider is your franchise agreement's directives for shop fit, branding updates or even a potential site-relocation.

In addition to this, Franchisors may have detailed minimum performance standards which need to be met during your agreement term. There may even be consequences if you fail to meet these standards.

Entering into a franchise agreement requires through consideration and you should consider seeking professional advice.

Do you require legal advice? Contact Argon Law via the links listed below.

You can find us at http://www.argonlaw.com.au/.
Please feel free to contact us at [email protected] / 07 5443 9988
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