Franchising Agreements

A franchise arrangement combines a business concept with continuing responsibilities between the parties. Lim Wong & Partners assists with franchising agreements. An initial conversation can establish whether you are considering a new agreement, a renewal or a proposed change to an existing arrangement.

Useful discussion points include the rights being offered, the location or territory, payments, training and operational support. The agreement may also address brand use, purchasing arrangements, reporting and the circumstances in which the relationship can end. Explain which promises were made during discussions and where those promises appear in the documents.

A short commercial summary is useful, but it should accompany the complete agreement and related schedules. Identify the assumptions behind your decision, including premises, staffing and spending commitments. Where something remains unclear, record the question before treating the proposal as settled.

• The draft franchise agreement, schedules, disclosure or proposal documents and relevant correspondence.
• Details of the proposed parties, business location, fees, support and intended operating arrangements.
• Existing commitments involving premises, suppliers or financing, together with questions about renewal, transfer and exit.

• ✓Existing DocumentsRelevant agreements, applications, notices and records concerning franchising agreements.
• ✓Supporting InformationCorrespondence, identification details and any documents referred to in your initial discussion.
• ✓Chronology and PrioritiesKey dates, steps already taken, outstanding concerns and the assistance you wish to discuss.