The basics to consider
The franchise agreement is crucial. Don't sign any agreement, or pay any fees or deposit, until you have taken professional legal advice.
Areas covered by a typical agreement
Term: how long does the franchise last? Will you have the option to renew it, and on what terms?
Territory: what area does your franchise cover? Do you have exclusive rights to sell within it?
Fees: what initial fee will you have to pay? What percentage of sales revenue will you pay? Will you pay a regular management fee - and if so, what does it cover? Will you have to pay other costs? How are the costs worked out?
Support: how much help will you get starting the business? What continuing support will you get?
Exit: what happens if you can't continue in business for some reason - perhaps due to ill health? What happens if you want to sell your franchise?
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