Franchises can be global brands or locally grown New Zealand businesses. Franchises provide a means by which individuals in a variety of locations can operate a standardised business model that provides a national and sometimes globally recognised brand for customers who deal with the franchise. The standardisation is achieved by having a business manual or operating system that all operators must agree to use and which often includes a common fit out for outlets and vehicles, uniforms for staff and the use of standardised products supplied or approved by the master franchise system.
Those who buy franchises must sign a franchise agreement, undergo training and contribute a share of the turnover from their operation to the franchise system and agree to contribute to local and if applicable national advertising. They must also agree to run their operation the same as all other operators.
Franchises are a mix of running your own business and working for someone else. They have special rules and it is important that you understand just what you are signing up to when you are looking at purchasing a franchise operation. We can advise you on the franchise agreement and your rights and obligations under it.
If you are thinking of selling a franchise there are often rules that you must comply with before you start the marketing process to sell your franchise. Again we can ensure that you are aware of your rights and obligations so call and make an appointment to have us go over your agreement to ensure that you comply with your obligations and are able to market your franchise the way that you think best suits your needs.