The ABC Unit Franchise Agreement is written from the perspective of the franchisor, based on the assumption that the franchisor will normally have prepared the initial draft of the franchise agreement which is included in the Offering Circular. The agreement may or may not be subject to negotiation, depending on state law and the current business practices of the franchisor.
Wake North Carolina Annotations for Unit Franchise Agreement
Category:
State:
Multi-State
County:
Wake
Control #:
US-2-01-2-STP
Format:
Word;
Rich Text
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FAQ
The three types of franchise agreements include: Master Franchise Agreement. Area Representative. Area Development Agreement.
Overview of the relationship: This includes the parties to the contract, the ownership of IP, and the overall obligations of the franchisee to operate its business to brand standards.
There are 4 basic types of franchise agreements: Single-unit, multi-unit, area development and master franchising. A single-unit franchise is the most common and is simply where a franchisor grants a franchisee rights to open and operate one single franchise unit.
The Franchise Agreement Location/territory.Operations.Training and ongoing support.Duration.Franchise fee/investment.Royalties/ongoing fees.Trademark/patent/signage.Advertising/marketing.
The typical duration of a franchise agreement is usually 10 or 20 years. This part of the contract will also spell out the conditions under which the franchise can be sold to someone else, which can be stringent to make sure that any future franchisee is qualified to be an owner.
The franchise agreement outlines the costs of franchising ownership. All franchises charge fees. These include the initial franchise fee, as well as ongoing fees such as the monthly royalty fee, advertising or marketing fee, and any other fee. Agreements can include late fees and interest.
The franchise fee usually covers the cost of training (not including travel expenses), plus support and site selection. The items or benefits that are included in a franchise fee are different for every company. In some cases, the franchise fee is just an upfront licensing fee for the right to use the franchise name.
The three conditions of a franchise agreement include a franchise, which is a written contract granting permission to sell someone else's product or service in a prescribed manner, over a certain period of time, and a specified territory, a franchisee, which is a person or a group of people who received the franchise
A franchisor will typically offer the following assistance to franchisees: Financial assistance. Not all franchisors offer financial assistance but some do have financing programs available to franchisees.Location selection.Training/operations manual.Advertising and marketing.Ongoing support.
What are the Most Important Sections in the Franchise Agreement? Use of Trademarks. Location of the Franchise. Term of the Franchise. Franchisee's Fees and Other Payments. Obligations and Duties of the Franchisor. Restriction on Goods and Services Offered. Renewal, Termination and Transfer of Franchise Agreement.