Roles and obligations of the franchisee
Financial assistance- our requirements

For franchisees franchising is multi-faceted but the main motivator has to be that it is not merely " contributing" to the success of someone else's business but rather your own business and that you are not alone. With this in mind there are a few questions franchisees should consider before committing to an opportunity.

• Will I be happy operating on my own but in accordance with rigid guidelines?
• Does the particular type of business suit my personality and interests?
• Can I comfortably acquire the knowledge and expertise to operate in the chosen industry?

Roles and obligations of the franchisee

As in this case with the franchisor, the Franchise Agreement will outline all of the franchisee's roles and obligations. It is important to consider this document before signing any agreement.

As a franchisee, the main concern is what is happening in terms of the day-to-day operations of the business and the relationship with the franchisor, these may include;

• Maintaining the goodwill of the business
• Maintaining high public confidence in the quality of standards of products and services offered
• Using trademarks precisely as prescribed by the franchisor
• Participating in pricing strategies and promotions that may be laid down by the franchisor from time to time
• Ensuring that trade creditors' payments are up to date
• Keeping accurate and up-to-date books of accounts
• Holding the technical and other information made available by the franchisor in strict confidence

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Financial assistance- our requirements

If the franchise has been accredited by us and has been confirmed by one of our representatives, no additional information needs be submitted and only the prospective franchisees business plan will need to be submitted. Should this not be the case, the franchisor will need to comply with our requirements for accreditation before assessment of their application for finance.

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