Entrepreneur Success # Franchising


Q&A # Brought to you By Elisabeth Gore-Jones- Bywaters Timms Lawyers


It is important for a potential franchisee to ensure they have a sufficient initial term and option/s to renew the franchise agreement. The franchisee needs to ensure the term of the franchise agreement will give the franchisee sufficient time to earn a return on their business.


If the franchisee wants to leave the franchise system then the franchisee will usually need to ensure they have a remaining term of the franchise agreement to sell with the business. The franchisee cannot sell to just anybody. The franchisor will have to approve the sale. Again, this makes sense. The franchisor will be entering into a long term contract with the purchaser and will want to make sure they are a good “fit” for the business and they have the resources to operate the business.


It is important for a potential franchisee to understand what will happen at the end of the term to enable the franchisee to protect itself and prepare appropriately.


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