Imelda Reynolds of Beauchamps Solicitors
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Franchise Direct's Lillie Burroughs speaks to Imelda Reynolds of Beauchamps Solicitors.
Imelda explains what a franchise agreement is and what is involved in signing a franchise agreement. Imelda also speaks about other documents and contracts you may be signed asked to sign as a franchisee. Typically, franchise agreements last for ten years and Imelda believes that you should make work out the financials involved in the operation of the franchise before signing anything.
Imelda also explains what is meant by "exclusive territories" and how they are worked out by the franchisor. Imelda explains what an "exclusive purchase agreement" is and how it affects the day to day operation of a franchise business.
Imelda believes that the most important piece of advice she can offer franchisees is to do your homework before investing a franchise opportunity and of course, you should consult with a solictor before signing anything.
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