Franchising is a replication of a proven business system (“the system”) in exchange for an upfront payment and on-going royalties for an agreed period of time. The system comprises of all the elements necessary to establish an untrained person in the franchise business, running it with support from the franchiser.
Well known examples include Burger King, McDonalds and Subway. However, practically every business sector is represented by one type of franchise or another.
We have a wealth of experience providing advice to the franchising sector. Areas include:
We can work with prospective franchisers in setting up new franchise networks and drafting the necessary framework documentation. If you are already established as a franchiser, we can assist by providing a health check of your documentation to ensure it conforms to current standards and best practices associated with ethical franchising as well as recent changes in the law.
If you are taking a franchise we can review your franchise agreement (typically 40-69 pages long) and produce for you a comprehensive, written report on a fixed fee basis. Our report will advise on the key aspects of the franchise agreement and appraise you of any particularly onerous or unusual provisions.
The majority of franchise agreements are non-negotiable, however we see our role as ensuring you fully understand the financial and personal obligations you are signing up to. If any negotiations with the franchiser are required we can assist with these on your behalf for an additional charge. We have experience advising prospective franchisees in a wide variety of business sectors and are on the panel of recommended lawyers for Toni & Guy franchisees.
Expertise in the franchising sector tends to be a given. We have acted mainly for franchisees so have the advantage of having seen a lot of franchise agreements – the good, the bad and the ugly. Therefore we know what we are looking for and crucially what we might be missing. We can offer timely, practical and cost effective advice a a result. This is of benefit not only to prospective franchisees but to franchisers, as we can readily see both perspectives. We pride ourselves on being approachable, easy to contact and reliable and aim to clarify what can often seem an impenetrable area of law.
Paris Smith are Affiliate members of the British Franchise Association (bfa).
The bfa is the only voluntary self-regulatory body for the UK franchise industry, with a standards based approach to membership. Its aim is to promote ethical franchising practice in the UK and help the industry develop credibility, influence and favorable circumstance for growth.
*Statistics taken from the BFA/Natwest Franchise Survey 2015.
“I just wanted to send you a note to say thank you for your support and advice on the Action Coach franchise agreement. You really did help me in making a decision to go with the company.”
- Gary Potter, Prospective franchisee
Emily is exceptionally helpful, understanding and extremely professional, polite and exceeded my expectations – from start to finish and with ongoing support – highly recommended.
- Benjamin Lewis Evans-Starr, Franchisor, Aspect Valeting Ltd
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