It is well documented that franchise businesses are more likely to be successful in the long term than standalone start-up businesses. In his bestselling book The E-Myth, Michael Gerber observed that “Franchise Businesses have reported a success rate of 95% in contrast to the 50%-plus-percent failure rate of new independently owned businesses.” You are buying [...]
This works in a similar way to a lease whereby you transfer the obligations under your Franchise Agreement to another party. This is most often referred to as an "Assignment".
The Franchise Agreement sets out the terms, fees and obligations of the various parties. We will supply you a copy of this agreement at least 14 days before you are able to sign it in order that, should you choose, you can take it to a Solicitor and fully understand it’s content. We also encourage you to [...]
Every franchise agreement has what is most commonly referred to as a "Term". This is essentially because the Franchisor owns the Intellectual Property and licences that to the franchisee for a period of time. Depending on the Franchise System this can vary but in most mobile operations, where there isn't a property lease involved, the [...]