On 4 April 2020, the government updated its guidance for employers in relation to the Coronavirus...
Advice for Franchisees
If you are considering entering into a franchise agreement, it is important that you obtain professional legal advice on the terms of the agreement, regardless of whether or not your franchisor is prepared to agree to any changes to its terms. It is vital that you understand the terms of an agreement which is, generally speaking, drafted for the benefit and in the best interests of your franchisor.
We regularly review and prepare reports on franchise agreements for prospective franchisees. our Commercial and Corporate Finance team has reviewed a wide variety of franchise agreements from newly formed franchises to established franchise businesses.
We are also able to provide advice and assistance on the most appropriate structure for you to operate your franchise business and can assist in the formation of companies, LLPs and partnerships. If you are entering into a franchise arrangement with other individuals, we can assist with the drafting of any necessary shareholders or partnership agreements.
If you are entering into a franchise agreement through a corporate structure, then it is likely that the franchisor will require the directors, shareholders or members to enter into personal guarantees. We can also provide advice and assistance with such guarantees.
Depending on the nature of your franchise, you may be required to employ. Our employment team can assist you by drafting any contracts of employment, employment handbooks and policies. You may find that our BLHR service is the most cost effective solution for you, details of our service can be found here.
If your franchise relies on the acquisition of commercial property, our dedicated commercial property team is able to advise on the most appropriate property strategies for your franchise venture.
We can assist in the sale or purchase of land or acquisition of business premises, including advising on whether head leases and/or subleases should be entered into in respect of such premises. We can also assist with the drafting, negotiation and completion of leases and can negotiate the terms of any sub-leases or licences that you may require from your franchisor.
If you would like more information or require assistance, please do not hesitate to contact the team.