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Owner will ensure that the location adheres to established franchise guidelines for appearance and cleanliness.
Owner agrees to provide all necessary documentation and materials needed to meet requirements of the franchise location.
Owner agrees to oversee the daily management and operation of said franchise location and employees.
Owner is also in agreement to maintain all upkeep of said location. [Owner First Name] [Owner Last Name] has the right to inspect the location upon notice no later than [Inspection Notice Days] before any inspection.
Any and all failure to apply with the terms and conditions set forth may result in termination of the agreement, and further legal action as deemed necessary by the Franchise.
The company is currently in good standing under all laws and has all requisite power and authority to enter into this agreement with the owner. To the owners current knowledge there are no legal manners or personal manners the will prohibit them from fulfilling this contracts term. Company will provide needed support as listed below for Owner as agreed to in this franchise agreement.
Owner agrees to pay franchise for the rights to own and operate this franchise location. Payment amount is shown in the table above and includes any deposits, discounts, and taxes related to said amount.
Owner also agrees to pay said Company royalties up to [Dollar. Amount] on a monthly basis as agreed upon by both parties. Failure to pay any royalties and/or fees within agreed time period may result in termination, seizure or withdrawal of the Owner’s franchise license.
Business ownership offers you the opportunity to take control of your career, finances, schedule and future. You will be your own boss, work hard for yourself, and potentially reap the rewards that business ownership can offer.
Deciding which franchise is right for you is a huge decision. The right business should not only interest you, but the initial investment amount must fit into your budget and it should enable you to live the lifestyle you desire (do you want more free time, more money, control over your work environment?). Additionally, any business you choose to buy must meet a market demand in your community. If there is no market demand or the area is already saturated with similar businesses, your new business will not have a bright, long future ahead of it. The best advice is to do your research before signing a franchise agreement. Speak with current and past franchise owners and make sure there is in fact a demand for the business in the area you'd like to open the business.
Regardless of whether you have industry or business ownership experience, you can purchase most franchises because they offer complete training, comprehensive support from the home office, a proven business system, and a product or service that has proven itself to be popular and in-demand.
The cost to buy a franchise varies greatly depending on what industry you choose to start the business in, whether the concept requires a storefront, office, home office, or is mobile, what state you buy the business in, and how much overhead your business will require. There are concepts that cost under $10,000 to start and other franchise businesses that require the investor to have millions of dollars in available liquid capital. Additionally, many franchise concepts offer financing or can help you gain financing if you're interested.
This varies depending on the preferences of the franchisor but yes, most concepts will allow you to have a financial partner who may also be an operating partner, if you choose.
Yes, but again, this can vary by franchise concept. Many franchisors will sell area or master franchises within a certain specified territory. These larger territories can be costly. If you own a single franchise and are successful, most franchisors will be pleased to sell you another territory. If you own one concept and would like to purchase another franchise from a different, unrelated brand, this is usually possible unless you plan to buy a competing concept. Make sure to read the entire franchise agreement and also have an attorney who specializes in franchise law look over the agreement before you sign it. Let your attorney know that you plan to purchase another franchise concept in the future, so he can ensure you won't have problems.
Inquire to franchise concepts listed on Franchise.com. You will then be contacted by the company. If you are seriously interested in potentially purchasing the concept, they will most likely offer you a copy of their FDD (Franchise Disclosure Document) for review before you make a final decision.