What is a Franchise?
Typically a franchise is a business where the Franchisor (like McDonald) licenses a retail outlet of its business to a person or business (Franchisee). The Franchisor allows the Franchisee to use the Franchisors product, service and trademark. The Franchisor usally also teaches the Franchisee the entire business format including marketing, selling, inventory, accounting and personnel procedures. Furthermore, the Franchisor typically also provides support via training and communications for the duration of their business relationship. Restaurants, retail and many service businesses are business format franchisors.
If you are looking to purchase a franchise and are looking for assistance in acquiring a franchise, negotiating terms with the Franchisor, reviewing contracts and closing on the purchase of a franchise please contact our law office.