{"id":22,"date":"2015-12-03T19:21:29","date_gmt":"2015-12-03T19:21:29","guid":{"rendered":"http:\/\/marcusboxerman.com\/FAQ\/?p=22"},"modified":"2016-03-15T16:06:32","modified_gmt":"2016-03-15T16:06:32","slug":"what-is-a-franchise-agreement","status":"publish","type":"post","link":"https:\/\/marcusboxerman.com\/faq\/what-is-a-franchise-agreement\/","title":{"rendered":"What is a franchise agreement?"},"content":{"rendered":"<p>A franchise agreement is a binding contract between franchisee and franchisor that reflects the mutual obligations each owes to the other. The franchise agreement governs the entirety of the relationship between the franchisee and franchisor and contains all of the essential terms that set forth each party\u2019s rights and responsibilities.\u00a0 Both the franchisor and franchisee are required to sign the document before their formal franchise relationship begins.\u00a0 The terms of a franchise agreement generally include:<\/p>\n<ul>\n<li>Franchise Fees<\/li>\n<li>Estimated Costs<\/li>\n<li>Duration of the Contract<\/li>\n<li>Location and\/or Protected Territory<\/li>\n<li>Training Programs<\/li>\n<li>Franchisee Support Systems<\/li>\n<li>Applicable Financing Programs<\/li>\n<li>Obligations of Both Parties<\/li>\n<li>Multi-Unit Rights<\/li>\n<li>Trademark Rights<\/li>\n<li>Advertising and Marketing<\/li>\n<li>Equipment<\/li>\n<li>Proprietary Systems and Products<\/li>\n<li>And More<\/li>\n<\/ul>\n<p>Franchisors should note that there is no standard form for franchise agreements because so many types of businesses are franchised.\u00a0 The needs of a coin-operated laundry facility are drastically different from those of a fast food restaurant, so the terms and conditions of franchise agreements for those businesses must be drastically different as well.\u00a0 As a result, it\u2019s important for franchisors to make sure the terms of their franchise agreements are tailors to the specific needs of their business.<\/p>\n<p>Franchisees should remember that franchise agreements are binding legal documents that are not to be taken lightly.\u00a0 The amount of bargaining power you have depends on the specific franchise you are entering into, but you always have the right to negotiate with the franchisor if you are not happy with the terms offered.\u00a0 If you still have questions about the franchise you\u2019re buying into, make sure those questions are addressed before signing.<\/p>\n<p>Regardless of whether you are selling\u00a0a franchise or looking to buy, it is important that you hire an experienced franchise lawyer to look over your agreement and negotiate its terms before you make a formal agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A franchise agreement is a binding contract between franchisee and franchisor that reflects the mutual obligations each owes to the other. The franchise agreement governs the entirety of the relationship between the franchisee and franchisor and contains all of the &hellip; <a href=\"https:\/\/marcusboxerman.com\/faq\/what-is-a-franchise-agreement\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[56,60,69,70],"class_list":["post-22","post","type-post","status-publish","format-standard","hentry","category-franchise-law","tag-franchise-agreement","tag-franchise-lawyer","tag-franchisee","tag-franchisor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Is a Franchise Agreement?<\/title>\n<meta name=\"description\" content=\"A franchise agreement is a binding contract between franchisee and franchisor that reflects the 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