The Coalition of Franchisee Associations‚ Inc. (the "Association") has recently proposed a "Universal Franchisee Bill of Rights" that‚ according to the association is been drafted and designed to cure franchise agreement "imbalance[s]…that favor the franchisor". The proposal is an excellent effort and certainly something that prospective‚ current franchisees and franchisors should evaluate.
From a franchisee perspective I must again caution that you must take a proactive approach in evaluating and assessing a prospective franchise opportunity. Too many times franchisees do not undertake the necessary due diligence prior to buying a franchise. We will be reviewing this proposed bill of rights in more detail. My initial concern is that from a legal standpoint implementation by franchisors may be risky when faced with a franchisee that does not act in good faith. However‚ the point and goal of the Association is one of "balance between franchisor and franchisee". I am not only a fan of balanced relationships but I also believe that "balance" makes for good business.
We will be reviewing this proposal in more detail.
Date: 08/30/2011 | Category: Buy a Franchise
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