Franchising
If you are considering entering into a franchise arrangement, it is prudent to obtain independent legal advice at the outset.
Once you have assessed the commercial viability of the business, you should request and carefully review the disclosure statement and conduct all relevant searches in relation to the franchise. The franchisor will provide a franchise agreement, which must be thoroughly reviewed and clearly understood. A solicitor can advise you on your legal rights, obligations, and any potential risks arising under the agreement.
In addition to legal advice, you should also consult your accountant or financial adviser to assess the financial feasibility of the proposed franchise and to obtain guidance regarding funding, cash flow, and tax implications.
Your solicitor will explain the terms and conditions of the franchise agreement in detail, including any restraints, fees, termination provisions, and ongoing obligations. It is essential that you understand each and every clause before signing.
For further advice regarding franchise agreements, please contact Troubridge Barristers and Solicitors today.