With the start of a new year‚ it may be time that you as a franchisor consider reassessing the terms and conditions of your franchise agreement. By doing so‚ you may improve the efficiency of your franchise system‚ as well as protect your business interests. You can touch base with your New York franchise lawyer about any shortcomings in your current franchise agreement and how most effectively to address those issues.
Two conditions of your franchise agreement that you should reassess going into the New Year include:
- your initial franchise fees – over time‚ the costs of starting a new franchise may go up or may go down. This may be due to the economy‚ due to the costs of raw materials‚ or due to trends in the marketplace. Therefore‚ before you ring in the new business year‚ you should make sure that your required fees are enough to cover your business costs;and
- your non-compete agreement – in your non-compete agreement‚ you can restrict a franchisee from participating in a business that is similar (or identical) to yours. This may restrict a franchisee from competing with your business for up to several years‚ and within a certain distance.
If you need assistance to reassess the terms and conditions of your franchise agreement‚ you may want to get the professional help of a New York franchise lawyer.
Contacting a New York Franchise Lawyer
If you are an entrepreneur who is interested in franchising your business there is a lot you need to know‚ including the significance of evaluating your trademark and how to approach the preparation of your FDD. For a limited time‚ get New York franchise lawyer Charles N. Internicola‚ Esq's franchise law report to determine whether or not your business is right for franchising. Contact us today at 1-800-976-4904 for more information about Mr. Internicola's franchise law services in New York and how he assists entrepreneurs franchise their business nationwide.