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Ten Key Provisions of Franchise Agreements
The Franchise Agreement is the legal document that governs the franchisee/franchisor relationship. There is no standard format for a Franchise Agreement because the terms and conditions and operations vary from franchise to franchise and industry to industry. In general, Franchise Agreements cover the following main provisions:
1. Training and/or ongoing support provided by the franchisor. Each franchisor has its own training program for franchisees and their staff, which can include training done at the franchisee's location or at the corporate headquarters or a combination. Most franchisors offer ongoing support including administrative and technical support.
2. Assigned territory. Your Franchise Agreement will designate the territory in which you will operate and whether or not you have exclusivity rights.
3. Duration of the Franchise Agreement. This provision states the length of the agreement.
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