Thinking about buying a franchise? In a franchise business, the owners grant right to an independent business owner to do business under their name. In exchange for compensation and specified obligation in the Franchise agreement. Join us in discussing the pros and cons of owning a franchise and determine if it is worth diving headfirst into the investment.
1:24 Evaluating the pros and cons of stepping into a packaged franchise system.
2:59 Term of agreement and options for renewal.
4:13 Territory of franchise - exclusive right from other franchisees.
5:11 Trademarks.
6:11 Advertising.
6:56 Training and staffing.
8:10 Provision investment requirement in decor, signage, software, branding.
12:32 Permission to transfer or terminate agreement.
15:18 Restrictive covenants.
16:08 Early termination from franchisor.
17:12 Indemnification and liability insurance.
19:10 Personal guarantee.
19:51 Renewal of agreement.
20:32 Contingency if buying existing franchise
22:24 Conflict between commercial lease terms and franchise terms.
24:54 Importance of great insurance.