Franchise Report
SCOTTISH Franchise Week, run by the British Franchise Association (bfa), aims to highlight the successes, opportunities, and potential that franchising has within Scotland, for those looking to expand their business and those looking to get into business for themselves.
With events over two days in Glasgow, there are free seminars on offer providing the perfect opportunity to find out about how franchising can work for you.
You can speak to the people who have been there and done it themselves and the experts who can help you along the way.
There is also a business breakfast that will feature a panel of franchisees and franchisors from Scotland who will share their experiences, challenges and successes, answering any questions you may have, and enlightening you on the opportunities available. The bfa also have a keynote session from Scottish entrepreneur, Josh Littlejohn, Co-founder of Social Bite.
In 2015, franchising set a number of new records as its performance continues a remarkable rise over the turbulent last decade.
It continues to shine as an industry that defeats economic trends, and offers possibilities to all looking to take control of their destinies. AS lawyers involved in resolving disputes, Brodies are occasionally approached by an aggrieved franchisee who is looking to terminate or cancel the agreement.
Often, the franchisee did not receive legal advice before signing the contract and is unaware of their legal rights and obligations.
Iain Rutherford, Partner at Brodies LLP said: “Seeking advice at an early stage can avoid those problems occurring at a later date.
“The franchisee will generally understand the contractual commitment to run the business for (most commonly) five years and the other headline provisions of the contract, but often will not appreciate some of the more complicated provisions such as the termination provisions or the restrictions on trade following termination.
“It is important for a franchisee to think about questions such as ‘What is the most important thing that has attracted you to this franchise and what are you relying on the franchisor to do?’ and ‘What do you hope to achieve out of the franchise agreement?’.
“Other key issues include if you are the sort of person who can make a success of this business.
“Obtaining good legal advice and knowing the effects of the agreement before a contract is signed should reduce the chances of me having to try and resolve a dispute between a franchisee and the franchisor at a later date.