6 Rules to Comply With When You Buy Franchise Sydney
6 Rules to Comply with When You buy franchise Sydney
Part of joining a franchise network is abiding to its rules and regulations. That is why you also need to find a franchise opportunity that fits your goals. In this article, we will give you a rundown of the 6 rules to comply with when you buy franchise Sydney. Let’s look at each rule and examine why it is important, and what could happen if you breach such a rule.
Payment of the franchise fee
Franchisees will either pay a flat fee or a percentage to operate the business. Regardless, the payment is usually based on the sales revenue of your brand. Large franchises may also include a quarterly or annual payment for broad-rage marketing or advertising. You must pay any fees, otherwise, it will be considered a breach of the franchise agreement. Once you’ve paid all the dues, you will get a complete business setup that is ready to operate. Another fee associated with franchising is payment for royalty. Royalty is another percentage that you need to pay monthly based on your revenue for the use of the business name.