What should I check before buying a franchise?

General information from Lawmateanz

Before buying a franchise in New Zealand, review the franchise agreement carefully. Check the fees and royalties, the term and renewal rights, territory, training and support, and what happens if you want to sell or exit.

Ask for financial information and talk to current and former franchisees about their experience.

Check whether the franchisor is a member of the Franchise Association of New Zealand, which has a voluntary code of practice.

Have a franchising lawyer and accountant review everything before you sign or pay any deposit.

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