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If your small business is flourishing and you're ready to expand into a franchise, congratulations are definitely in order! But so too are some legal considerations -- especially when it comes to drafting a business franchise agreement.
As you know, a franchise agreement is essential to spell out each party's obligations and protect your legal and financial interests.
Here's how to draft a business franchise agreement -- or at least, how to get a solid start:
Franchise Agreement Basics
Here's a general overview what most franchise agreements need to cover:
Ready to Draft an Agreement?
Of course, this list only scratches at the surface of the terms you'll need to include in your franchise agreement. Take a look at this franchise agreement questionnaire, which brings up many issues that you'll want to address. This can help you avoid potential legal problems down the road.
Once you've hammered out the details, you may want to consider options such as using a standard franchise agreement form. For more complex agreements, however, it may be wise to hire an experienced contracts lawyer to draft an agreement tailored to your business' specific needs.
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