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Getting the Best Out of Your Franchise Agreement
Written by: Sebastien PageArticle Overview: 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.
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Getting the Best Out of Your Franchise Agreement
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.
Article Tags: clauses, contracts, crucial point, devotion, dotted line, franchise agreement, franchise attorney, franchiser, franchisers, franchising system, half a million, legal consultation, negotiation, second thoughts, signature, united states, waste of time, whirlwind
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About the Author: Sebastien Page RSS for Sebastien's articles - Visit Sebastien's website Sebastien Page is Director of Marketing for WorldFranchising.com, the most comprehensive information resource for potential franchise buyers. The company also publishes franchise best sellers such as Bond's Franchise Guide, and Top 100 Franchises Guide. Before joining WorldFranchising.com, Page was Marketing Manager for Franchise.com where he successfully led the Marketing Department. Sebastien Page is very active in the franchise community and he often writes about franchising, sales and marketing. Click here to visit Sebastien's website The Small Business Franchise Act How Can You Get Out of a Franchise Choosing the Right Franchise Selling Your Franchise What Are Your Rights Reselling Your Franchise |
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