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Franchise Agreement

Franchises make over a third of all retail sales. There is a good chance that if you are starting a business, you will want to consider buying a franchise. That way you can take advantage of a business name that is familiar to many people (a trademark) and support services to help you succeed. These benefits come with a cost: Up-front fees of $10,000 to $50,000 and ongoing royalty fees of 3% to 20% of all your sales. Review the pros and cons of your franchise opportunity with an experienced franchise lawyer. Negotiate the terms of your proposed franchise agreement. Be sure the amount of support and degree of control over how you run your business are what you expect and can live with. Contact many existing franchisees to get the inside story on the franchise. Investigate thoroughly before you invest.