Using franchise agreement services during the critical time when you are negotiating terms of the franchise relationship is just good business.
June 29, 2011 by Fran
Filed under Franchise Articles
You should not think that you are calling in a “ringer” when you engage franchise agreement services so help you sort out the tricky documents that you must understand before launching your franchise empire. Franchising a business is grown-up work. There is serious money involved. The documents that start out as your way of learning the ropes of the franchising game quickly turn into legally binding contracts with some serious commitments of time, resources, work and money.
By engaging good franchise agreement services, you will have an experienced guide in the great safari into the wilderness of franchising. This is not to say that getting a franchise to start your own business is dangerous or uncharted territory because many have walked these pathways before and come out big winners. But, like a jungle expedition, you will do much better on your hunt to land the big game of a lucrative franchise business if you go into the adventure with an experienced guide by your side.
Part of the work to be done by franchise agreement services is knowing the timing of the various documents that will come your way and how to make those documents your own in preparation for greater challenges to come. Before you can even think about taking that final franchise agreement out of the envelope, you will have some time to review another document called the franchise disclosure document.
The key word that tips you off about what that document is for is “disclosure”. This is an important piece of literature that the company offering that franchise for sale will send to you to set the stage for striking a deal. It is in your benefit to read and then read again the franchise disclosure document and make sure you understand every line of it. Your franchise agreement services can be of help if there are parts of the FDD that baffle you.
Franchise law dictates that the franchising company reveal to you all of their secrets in the FDD so it will be packed with all kinds of juicy tidbits of crucial information about how your franchise relationship will work and how the franchising company ticks inside and out. So bond with the FDD like nobody’s business because if you do, you will be prepared when you show up at the door of your franchise agreement services offices with your franchise agreement in your hand ready to make the leap into owning your own franchise.
The franchise agreement is the story of your life for many years to come.
The real value that franchise agreement services will deliver comes when that actual document arrives. A good franchise consultant or franchise lawyer will make sure you get a franchise agreement sample well in advance so they have plenty of time to help you work through it to be certain your interests are represented well in that document.
The franchise agreement is the real guts of the relationship because it is the singular document that binds you and the company selling the franchise together as partners. More than one smart consultant from franchise agreement services has observed that the franchise agreement is more binding than a marriage license. That is something to think about to be sure.
Within the franchise agreement, you will agree to the terms of how the franchise will work, what your operating territory will be, who will be responsible for advertising and how much you can get away with in your own promotions. Most importantly, every aspect of the money issues that make a franchise a grown-up document are spelled out in the franchise document. When you put your autograph on that dotted line, you are saying that you are 100% on board with that document. Your franchise agreement services gurus can make sure that you really do mean that.