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ITEM#5AMEMORANDUM
TO:
FROM:
RE:
DATE:Timothy J. Broody, City Manager
Bill Feeling, Director, Economic Development and Tourism
Trolley Tours of Fredericksburg Inc. franchise agreement
February 8, 2018
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01
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02
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03
Understand the terms and conditions mentioned in the agreement.
04
Gather all the necessary information required to fill out the form, such as the franchisor's name, address, and contact details.
05
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06
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07
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08
Specify the type of franchise agreement you are entering into, whether it's a single-unit franchise or a multi-unit franchise.
09
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10
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11
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Who needs should form franchise agreement?
01
A franchise agreement is needed by individuals or entities who are interested in starting a franchise business. This includes potential franchisees who want to enter into a formal agreement with a franchisor to operate a business using their established brand, systems, and support. It is also required by franchisors who want to protect their brand and intellectual property rights by setting out the terms and conditions for their franchisees.
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A 'should form franchise agreement' typically refers to a formal contract outlining the terms and conditions between a franchisor and a franchisee, detailing the rights and responsibilities of both parties.
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Franchisors are generally required to file the 'should form franchise agreement' to comply with regulatory requirements before offering franchises.
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The purpose of the 'should form franchise agreement' is to establish a legal framework for the franchise relationship, protecting both the franchisor's intellectual property and the franchisee's investment.
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Information required on the 'should form franchise agreement' includes the names of both parties, business address, franchise fees, duration of the agreement, and any governing laws.
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