Getting the Best Out of Your Franchise Agreement
Getting the Best Out of Your Franchise Agreement
This is probably something that goes through the mind of every individual going into franchising, yet it clearly hasn’t diminished the size of the business as there are about half a million franchising outlets in the United States alone.
Getting a franchise attorney to negotiate some of the terms involved may turn out to be a huge waste of time. While legal consultation is generally a good idea, you can’t depend solely on your attorney to navigate you through your agreements.
Negotiation is generally easier when dealing with a relatively small franchiser. Presenting your case wisely and stating your reasons eloquently are usually sufficient to tilt the agreement more in your favor. It’s a different matter with larger franchisers altogether. Most of their contracts are ironclad and aren’t up for negotiation. In this case, you have to convince your franchiser of what a valuable asset you will be to the company. Calmly explain how much you can help their franchising system and hope for the best.
Demonstrate your skills, talent and devotion to the franchising team and you may just sway the franchiser enough to modify their agreement clauses enough so that you won’t feel that the situation is completely unfair to you.
Don’t lose hope when you see your contract but don’t get sucked into a bad agreement either. Consider this before signing the dotted line.
Getting the Best Out of Your Franchise Agreement - To learn more about this author, visit Sebastien Page's Website.
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You’re at that crucial point which will start your franchising career, that moment when you put your signature down on the dotted line of the franchise agreement. Signing isn’t as easy at it sounds, though. Reading the terms and clauses in the agreement may send you into a whirlwind of second thoughts. By the time you actually get to the dotted line at the bottom of the contract, you’ll be wondering what you’re getting yourself into.
This is probably something that goes through the mind of every individual going into franchising, yet it clearly hasn’t diminished the size of the business as there are about half a million franchising outlets in the United States alone.
Getting a franchise attorney to negotiate some of the terms involved may turn out to be a huge waste of time. While legal consultation is generally a good idea, you can’t depend solely on your attorney to navigate you through your agreements.
Negotiation is generally easier when dealing with a relatively small franchiser. Presenting your case wisely and stating your reasons eloquently are usually sufficient to tilt the agreement more in your favor. It’s a different matter with larger franchisers altogether. Most of their contracts are ironclad and aren’t up for negotiation. In this case, you have to convince your franchiser of what a valuable asset you will be to the company. Calmly explain how much you can help their franchising system and hope for the best.
Demonstrate your skills, talent and devotion to the franchising team and you may just sway the franchiser enough to modify their agreement clauses enough so that you won’t feel that the situation is completely unfair to you.
Don’t lose hope when you see your contract but don’t get sucked into a bad agreement either. Consider this before signing the dotted line.
Getting the Best Out of Your Franchise Agreement - To learn more about this author, visit Sebastien Page's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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