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What: The agreement should include a detailed description of the business operation and any relevant metrics. Requirements set by the franchisor?including how the property is to be maintained, how much insurance must be carried, how records must be kept, what hours the business must be open should all be detailed.
How to create a franchise agreement The names of the parties: List out the full legal names of the parties to the franchise agreement. ... Use of IP: Establish your ownership of the brand IP and list out all of the IP you're granting to the franchisee, such as manuals, trademarks, patents, and trade secrets.
Cover the essentials. A franchise agreement should cover all the essential elements of the franchising relationship, such as the grant of the franchise, fees and royalties, training and support, standards and policies, and renewal and termination.
Georgia has not enacted franchise specific laws and there are no Georgia state specific FDD registration or filing requirements. Franchisors are not required to register or file an FDD in the State of Georgia. Georgia has enacted Business Opportunity Laws that regulate the offer and sale of business opportunities.
The key elements of a franchise agreement generally include: Territory rights. Minimum performance standards. Franchisors services requirements. Franchisee payments. Trademark use. Advertising standards. Exclusivity clause. Insurance requirements.
TYPES OF FRANCHISE ARRANGEMENTS Single Unit Franchise. Single Unit Franchise (or Direct Unit Franchise) is the most traditional and historically the most common form of franchising. ... Multi Unit Franchise. ... Area Development Franchise. ... Master Franchise.