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Franchise Agreements: What They Look Like and What to Expect

Hubspot

Establishing a franchise involves more than a handshake, trust, good intentions, and an unspoken understanding of what both parties expect out of their relationship. That record is referred to as a franchise agreement. Let's take a more thorough look at what you can expect to see on a franchise agreement.

Legal 61
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5 Innovative Strategies for Business Expansion

Sales Hacker

Keep in mind that once you enter a licensing agreement, it is nearly impossible to back out of it. Look into franchising. Having the means to franchise your business ensures you fast access to capital. Like licensing, franchising puts the work into the hands of someone else.

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4 Common Types of Business Ownership

Sales Pop!

Partnership Partnership business ownership requires a formal legal agreement outlining each party’s rights and responsibilities. Franchise Franchising involves a franchisee buying the rights to use the brand name and system of an established company, known as the franchisor, to operate their own independent business.

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What is a Franchisee vs. a Franchisor?

Hubspot

The franchisee must adhere to the franchise, so following the contract and operating under the provided guidelines are a must. The franchisee will manage the daily activities that go into keeping a franchise location operational — including opening the store, overseeing sales, and locking up at the end of the day.

Retail 71
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Opening Up Your First Franchise? Here's Everything You Need to Know

Hubspot

But if you want to start a business that comes with an established brand and business model, a franchise might be a good fit. Franchises allow individuals to get their feet wet with the responsibilities that come along with owning a business. Are you feeling inspired to own a franchise location of your own? Franchise Definition.

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How to Get a Real Estate License in 7 Steps

Hubspot

If you’re already a licensed real estate agent, see if your new state has a reciprocity agreement with the state where your license was issued. If a reciprocity agreement exists, your pre-licensing requirements might be less. For example, Idaho has reciprocity agreements with Wyoming, Oregon, and Montana.

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Your 4-Minute Guide to Calculating Operating Income

Hubspot

Sales commissions. Examples of intangible assets include trademarks and patents, copyrights, franchise agreements, etc. Operating Expenses. This is the combined total of the costs of operating your core business activities. Common operating expenses include: Rent. Cost of supplies. Legal fees. Cost of goods sold (COGS).