Purchasing and Selling a Franchise
Working with an established and reputable brand can be attractive option for aspiring business owners. It is crucial that you seek legal advice prior to entering into a franchise agreement as it is quite a significant commitment.
On the flip side, it is important to know that selling your own personal business is significantly different to selling a franchise business, with the initial franchise agreement containing the process to sell out of the franchise if and when the time comes.
Our team can assist with both the buying and selling of franchises by:
- Reviewing
- Franchise documents
- Disclosure documents
- Franchise terms and conditions (Including; fees, term of franchise, franchisee obligations and termination conditions)
- Operations manual
- Financial statements
- Sale of business agreement (for buying and selling)
- Commercial lease
- Negotiations with franchisors
- Carrying out the reasonable steps to ensure due diligence and compliance
- Assisting with
- Franchise settlements
- Lease transfers
- Restrictions on selling or opening up new businesses
It is essential that you are aware of your rights and obligations as a franchisee upfront to ensure the agreement is clear, fair and reasonable.
Franchising your Business
Many business owners are opting to grow their business by way of franchising. If you are seeking to franchise your business, our team can assist by:
- Drafting
- Franchise agreements
- Disclosure documents
- Licensing and distribution arrangements
- Operations manual
- Support packs for new franchisees which include all relevant documentation
- Advising on legal obligations as a franchisor
- IP applications (franchise name and logos)
