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Actual for You - Mater Franchise Strategies and Transfer Issues; Case Study
With the recent improvements in medical science, and the startlingly sharp rise in the elderly population of most developed countries, it comes as no surprise that the demand for skilled health professionals has soared dramatically. Most notable among these are the increasing demands for both nurses and nursing assistants.Nursing assistants, in particular, are much sought after due to the great increase in their need among nursing homes, and private residence ca
(b) The assignee must expressly assume and agree to perform such obligations and sign a binding agreement with Franchisor.
(c) The assignee must be trained and pass Franchisor’s special Master Franchise training course.
(d) The assignee must be competent and subject to a thirty (30) to sixty (
Several times each month I am solicited by various market touts who have a newsletter service, faxes or emails they are willing to send me to make me rich. That sure is nice of them.The first thing that pops into my head is if this system is so good why are they willing to share it for the lowly sum of $350 or $19.95 per month or some other cheap price. Of course, some of them will move the decimal point to the right and increase that front number, but
This strategy works well for both parties and provides significant financial incentives to the Master franchise partner. However, once all the areas in territories are sold within the region of responsibility for the Master franchise agreement, then the Master franchise has less financial incentives and generally only receives a percentage of the royalties of the current franchisees. At this point often the Master franchise will wish to sell their rights back to the franchisor or to another entity.
The first time I had to deal with such a situation I found it necessary to set specific limitations and stipulations all the transfer. Later I decided to include these limitations and stipulations in the Master franchise agreement prior to assigning. Below is a copy of the clause in the contracts that I came up with;
5.7 Transfer of Master Franchise
Master Franchisee may not directly or indirectly sell, pledge, assign, transfer or convey any interest in the Master Franchise without the prior written consent of Franchisor. In connection with any sale, transfer or assignment of the Master Franchise, the following requirements for Master Franchisee (assignee) must be met to the full satisfaction of Franchisor as a condition to any transfer:
(a) The assignee must, at the time of such assignment or transfer, be financially responsible and economically capable of performing Franchisor’s objectives in this Franchise Agreement and in Franchisor’s business development plan.
(b) The assignee must expressly assume and agree to perform such obligations and sign a binding agreement with Franchisor.
(c) The assignee must be trained and pass Franchisor’s special Master Franchise training course.
(d) The assignee must be competent and subject to a thirty (30) to sixty (
The trick to surviving an economic crunch is to prepare by learning to spend less than you earn. Use any surplus income you have to create a safety net-that, is, cash in the bank. Ideally, this safety net should equal at least 6 months worth of your living expenses.I know this is not realistic for most of us, and it may already be too late to prepare for some of us. If you are in the depths of an economic crunch, you have to figure out how to both cut your curren
The first time I had to deal with such a situation I found it necessary to set specific limitations and stipulations all the transfer. Later I decided to include these limitations and stipulations in the Master franchise agreement prior to assigning. Below is a copy of the clause in the contracts that I came up with;
5.7 Transfer of Master Franchise
Master Franchisee may not directly or indirectly sell, pledge, assign, transfer or convey any interest in the Master Franchise without the prior written consent of Franchisor. In connection with any sale, transfer or assignment of the Master Franchise, the following requirements for Master Franchisee (assignee) must be met to the full satisfaction of Franchisor as a condition to any transfer:
(a) The assignee must, at the time of such assignment or transfer, be financially responsible and economically capable of performing Franchisor’s objectives in this Franchise Agreement and in Franchisor’s business development plan.
(b) The assignee must expressly assume and agree to perform such obligations and sign a binding agreement with Franchisor.
(c) The assignee must be trained and pass Franchisor’s special Master Franchise training course.
(d) The assignee must be competent and subject to a thirty (30) to sixty (
The youngest but largest city of Tennessee, Memphis, is a major manufacturer of piano, textiles, automobiles, and truck parts. Memphis is the home of several Fortune 500 companies and is perceived as a city that is friendly and encourages business start-up, growth and development.The music industry is hot with benefits such as fame and the potential to make billions. To most, though, the best part is being able to do something they love, creating music. A music i
5.7 Transfer of Master Franchise
Master Franchisee may not directly or indirectly sell, pledge, assign, transfer or convey any interest in the Master Franchise without the prior written consent of Franchisor. In connection with any sale, transfer or assignment of the Master Franchise, the following requirements for Master Franchisee (assignee) must be met to the full satisfaction of Franchisor as a condition to any transfer:
(a) The assignee must, at the time of such assignment or transfer, be financially responsible and economically capable of performing Franchisor’s objectives in this Franchise Agreement and in Franchisor’s business development plan.
(b) The assignee must expressly assume and agree to perform such obligations and sign a binding agreement with Franchisor.
(c) The assignee must be trained and pass Franchisor’s special Master Franchise training course.
(d) The assignee must be competent and subject to a thirty (30) to sixty (
You might think that if you win the lottery or get a huge raise, all your problems will be solved. Sounds logical, right? Well, it might sound logical, but it isn’t. Having a bigger bank account will not make all of your problems disappear. Why? Because money is nothing more than a giant magnifying glass. Any problems you have with money only get bigger when you have more of it. There are people who earn $150,000 a year who have huge money problems because they have nev
(a) The assignee must, at the time of such assignment or transfer, be financially responsible and economically capable of performing Franchisor’s objectives in this Franchise Agreement and in Franchisor’s business development plan.
(b) The assignee must expressly assume and agree to perform such obligations and sign a binding agreement with Franchisor.
(c) The assignee must be trained and pass Franchisor’s special Master Franchise training course.
(d) The assignee must be competent and subject to a thirty (30) to sixty (
If you expect to make any profit as a reseller or e-Commerce seller online, you have to be able to accept credit card payments online. The potential for generating business any other way is too remote to consider. People are simply not willing to order online and then have to wait until you receive payment and assure that their check clears the bank before you ship the merchandise. People who order online are looking for quick and efficient service, and that means havi
(b) The assignee must expressly assume and agree to perform such obligations and sign a binding agreement with Franchisor.
(c) The assignee must be trained and pass Franchisor’s special Master Franchise training course.
(d) The assignee must be competent and subject to a thirty (30) to sixty (60) calendar day review by Franchisor before a transfer to them.
(e) The assignee must run their own “THE CAR WASH GUYS” franchise for at least four (4) months before the transfer.
(f) The assignee must own and run a company store unit for the duration of their franchise in a specifically designated area other than the Marketing Areas of their master area franchisees but in the same general region as their master area franchisees.
(g) The assignee must be able to provide all on-going support items to franchisees listed in this Franchise Agreement.
(h) The assignee must attend any formed franchisee organization, union or association meetings in their master area which have been officially recognized by the Franchisor, providing that the franchisees want the Master Franchisee to be there and of which their master area franchisees are a member.
(i) The assignee must maintain on hand at least one regional team member and one loaner truck for every twenty (20) franchisees in their assigned master area.
(j) The assignee must sign a non-competition agreement with their master area franchisees not to operate their company store in the Marketing Areas of their master area franchisees unless they have been asked to by a franchisee in case of vacation or injury.
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When expanding a franchising company thru master franchising you would be well advised to consider such things. You will need to consult with a Franchising Attorney to make sure this is done correctly and in your best interests and you should ask them about these issues. I hope you will consider this in 2006.
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