Franchise Contract | N.Niselow Attorneys | Johannesburg, Gauteng
Franchise Contract Pitfalls To Avoid
It is understandable that you as the potential franchisee will be all too eager to sign the franchise contract. It is a new business opportunity and you will have the right to use certain intellectual property of the franchisor in return for royalty payments. Before you sign the franchise contract get lawyers to review such. The fine print should never be ignored. Look out for excessive penalty clauses, high royalty fees, and unrealistic expectations. The franchisor may also limit your rights and as such you will want to ensure that the business concept is worth the money that you will invest. Don’t make the mistake of thinking that the relationship with the franchisor will never change. You need ensure that there are terms and conditions in the franchise contract allowing for an opt-out option as well. Get legal assistance before signing any franchise contract.
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Franchise Agreement, Multi-National Franchising and Franchise Owner Contracts
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