Taking Instructions on a Franchise Agreement - Checklist
Checklist
Checklist | Notes |
---|---|
PARTIES | |
Full name and address of franchisor | |
If the franchisor is a limited company, give its registered office, registration number and accounting date | |
If the franchisor is not a company, what is the date when it prepares its accounts? | |
Will franchisees be sole traders, partnerships, limited liability partnerships or limited liability companies? | |
Will a guarantor be required of the franchisees obligations? | |
If franchisees are limited companies, does the franchisor require a personal guarantee from the main shareholder of the company in order to recover any potential damages? | |
Is the franchise required to be owner-operated or is it a management franchise? | |
GENERAL | |
Brief description of the franchisor's business and proposed franchise business if different | |
How long has the franchisor been carrying on the business in the proposed franchise activity? | |
Are there any secret/unique methods, formulas, techniques involved in the running of the franchise business? | |
How many company-operated territories are there? | |
How many pilot franchises? | |
BACKGROUND | |
Under what name will the business be carried on? | |
Is it proposed that the franchisees should trade under the same name? If different, give that name | |
Is the franchisor the exclusive owner of the trade name or proposed trade name? |