If you are an existing business owner, franchising or licencing your business can be a great way of creating growth and value. But it needs to be done properly for these goals to be realised.
We have experience working with business owners to create a franchise network. Some are taking their business into Australia too, and so we have worked alongside Australian lawyers and have a working knowledge of both NZ and Australian franchise requirements.
If you are looking at buying into a franchise, or selling an existing franchise, then there are other considerations.
As franchising has developed in this country we commonly see the same or very similar forms of franchise agreements, so our advice to you does not necessitate us reinventing the wheel.
If you are looking at buying, you need a full understanding of the operations manual as well as the franchise agreement, in order to understand what you are buying and whether it works. If you are selling, it is important to follow the procedures and timelines set out in your agreement – ensuring appropriate information is obtained from your buyer and that you can deliver to the buyer what they have contracted to purchase.
One of our lawyers is currently working on franchising one of his own businesses. We have first-hand experience of the things that matter. Give us a call if you are interested in franchising.