Posted by Elizabeth Gore-Jones
on 4 February 2015
The Difference Between a License and a Franchise
We are often asked the difference between a license and a franchise agreement.
The answer is quite simple.
The Franchising Code of Conduct provides a definition of a franchise. If an arrangement between parties meet all of the criteria then it is a franchise agreement, there is no contracting out of that.
If the arrangement between the parties does not meet all of the criteria contained in the definition of franchise agree...
Posted by Elizabeth Gore-Jones
on 3 February 2015
If you are buying your first business the whole process may be a little overwhelming.
Here, we will give you a basic outline of what to expect.
1. If a business broker is involved in the sale they will often give you a contract to sign;
2. You should then have that contract reviewed by your solicitor. Your solicitor will give you advice, so you know what you are signing, and redraft or negotiate the contract on your behalf;
3. Once it is in a form you are happy with, you...
Posted by Elizabeth Gore-Jones
on 2 February 2015
Your lease can be one of the most important aspects of your business and you may not even realise it.
More often than not a business' premises will fundamentally impact upon its success. The viability of many retail stores depends upon foot traffic past the store front, some retails stores don't rely so much on the foot traffic but more so on surrounding businesses attracting potential customers to the area, distribution companies may need to be centrally located to ensure t...
