A few weeks ago, my colleague Chuck Modell discussed the necessity of developing a “fair but firm” franchise agreement that is designed to work with your particular franchise system. His suggestion that new franchisors avoid using “form franchise agreements” (I would also recommend avoiding consultants who do not meet with you to discuss your system) and instead tailor their agreements specific to their system struck a chord with me.
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“Your business is approaching the time when you should have a trusted advisor or advisory board of directors to keep you on track.” My business mentor told me this in my early days of working in a startup business.

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New franchisors often come to us with one of two directives; “write an airtight franchise agreement that I can terminate if my franchisees do not do what I want them to do,” or, at the other end of the spectrum, “we want an agreement that is short, fair and neutral.” The best agreements lie in the middle, and for good reason.

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Long-time Larkin Hoffman client Anytime Fitness was featured in a recent Entrepreneur Magazine article discussing its international expansion strategy. When we met them about a dozen years ago, they had fewer than 100 locations. Today, Anytime Fitness and its franchisees have opened more than 4,000 locations, including more than 1,100 gyms in 30 foreign countries.