Termination of franchise agreement by franchisee sample letter, A franchise agreement is a legal document that clearly states the rights and duties of the franchisor and franchisee. Before you get into an arrangement with a franchisor, it’s great to understand the terms and conditions of the arrangement. As a franchisee, it is good to understand what a franchisor is offering you. Additionally it is good to read clearly the arrangement to know your rights and duties. It’s good to know that it is this agreement that will see you run the business smoothly. What is contained in the agreement is the principle that will act as rules to govern your day to day running of the franchise you purchase.
A good franchise agreement should contain all of the crucial information concerning the business. The basic information should include the name of the franchisor, the sort of business that is operated under this franchise, the functioning of the franchisor in the past, the location and the manner used in advertising the franchise. Here is the basic information you need to know before signing a franchise agreement with any given franchisor. It’s good for an agreement to have a plan on how the franchise is running now and the future prospects. The rights of you as a franchisor should also be clearly stipulated in the agreement. This is a good way that will see you know what you will be entitled to.
A good franchise agreement should clearly show you your health and safety responsibility. It is good to guarantee you take advantage of an insured franchisor so that in the event of emergencies you’re catered for. It should also show what the penalty is in the event you terminate the terms of agreement. An agreement should also give you an operation guideline which will guide you in regards to hiring of workers.
As a franchisee, it is great to be keen on the franchise agreement you get into. This is for your own safety. Prior to signing an agreement, it’s good to make sure that you know the legitimacy and genuineness of the franchisor that you need to partner with. It’s good to search for a business that will give you high quality solutions to your satisfaction. To get such a company, it’s better to check on the satisfaction level of previous clients. Check it out the sample of termination of franchise agreement by franchisee sample letter below at the attachment page.