As long as you meet the franchisor`s requirements, you are generally responsible for exercising a renewal option. Below are some terms and conditions that you can expect your franchisor to participate in your franchise agreement with respect to the granting of renewal of your franchise for another term: De-Branding includes things like removing (or at least temporary coverage) signage, changing colors, stopping the use of uniforms and other obligations to remove affiliations. At present, however, branding requirements generally extend much further into online “property” and include things like stopping the use of corporate email addresses and social media activities as franchisees. While most franchise agreements prohibit franchisees from acquiring branded accounts (z.B. @Franchise_of_DC), tweets and status updates that refer to the franchise will likely have to be deleted and old messages will likely have to be deleted. Note: If a franchisor intends to renew the franchise agreement, they must inform you (at the same time) that you are entitled to an up-to-date disclosure document (if you have not yet requested one in the last 12 months). You want to dip your toe into the waters of commercial property and have decided to jump into a franchise. Maybe you have zero on which franchise is the right thing to do for you or maybe they are still exploring opportunities. Whatever you decide, you need a way to finance the business, and this can be intimidating.
Getting a business loan can be difficult… even if the economy begins to recover. If you have money, banks and credit unions will be lining up to lend you even more. If you don`t have money? Well, take a heart – here are some alternative financing options that you can put in mind of your own franchise: on the other hand, sometimes franchisees want to extend their contract. How is a franchisee evaluated if they want to continue? Before you buy a franchise, you should look at the franchise agreement to see if it says a lot about the franchisor`s bankruptcy. Also talk to a lawyer and accountant to clarify what your rights and obligations would be if the franchisor were to sink.