Franchise legal stages
Before buying a franchise, there are a number of legal steps you need to go through:
1. Sign a confidentiality agreement if confidential information is being provided
2. Enter into a deposit agreement, which will require payment to be made to the franchisor. You need to remember that the payment may be non-refundable and so if you do decide to not buy the franchise then you could lose your money. Ask the franchisor if it is non-refundable.
3. In order to become a franchisee in Ireland you will have to enter into a legal agreement with the franchisor, known as the franchise agreement. You will therefore need to obtain a copy of the franchise agreement from the franchisor
4. Obtain legal advice on the franchise agreement from a lawyer who specialises in franchising
5. Obtain legal advice on premises if franchise is premises based
6. Sign the franchise agreement and make payment as required in the agreement
