FRANCHISE AGREEMENT

FRANCHISE AGREEMENT

When you see the same popular restaurant, supermarket or service brand in different cities, chances are it is running on a franchise.

A franchise is a business model where the owner of a successful brand (franchisor) allows another person or company (franchisee) to run their own outlet using that brand’s name, system and business model in exchange for fees and a share of profits.

The legal document that makes this possible is a Franchise Agreement. It is a binding contract that sets out the rights and duties of each parties.

It covers the use of the brand name and other trademarks, fees, royalties, training, support, supply of goods, marketing obligations, quality control, duration of agreement, renewal conditions, restrictions and termination.

Without this agreement, the franchise relationship would suffer.

The benefits are that the franchisee gets instant access to an established brand and ready-made customer trust while the franchisor grows the business faster without opening every outlet themselves.

A franchise is someone else’s proven success handed to you under strict rules.

But franchising also comes with strict rules and one wrong clause can cost you fortunes.

That is why a Franchise Agreement must be drafted and reviewed by an experienced Business and Property Lawyer, ensuring fairness, balance and legal protection for both sides.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com