📢 New Franchise Agreement Tips! 📝💼
🏢 Thinking of starting a franchise in Australia? Make sure your Franchise Agreement covers these crucial elements:
1️⃣ Franchisee Obligations: Clearly outline the responsibilities and duties of both parties to avoid confusion.
2️⃣ Territory Rights: Define the area where the franchisee can operate to prevent competition issues.
3️⃣ Franchise Fees: Specify all fees involved, such as initial costs, ongoing royalties, and marketing contributions.
4️⃣ Intellectual Property: Protect your brand and trademark rights, detailing the proper use of logos and intellectual property.
5️⃣ Training & Support: Ensure provisions for comprehensive training and ongoing support are included.
6️⃣ Duration & Renewal: Set the franchise term length and provide conditions for renewal options.
7️⃣ Termination & Exit Clauses: Clarify the circumstances under which either party can terminate the Agreement.
8️⃣ Non-Compete & Non-Disclosure: Include clauses preventing the franchisee from competing or disclosing sensitive information.
9️⃣ Advertising & Marketing: Outline marketing obligations and strategies to maintain brand consistency.
🔟 Dispute Resolution: Outline the clear process for resolving conflicts or disagreements.
📚 Remember, consulting a professional experienced in franchise law is vital for creating a robust and compliant agreement! 📞📧