Question:

Financial and legal consideration about franchise in New Zealand

by Guest23160105 | 1 year, 1 month(s) ago

My younger son wants to open a business in NZ; could you tell me the financial and legal consideration about opening a franchise in New Zealand. Thanks.

Tags: consideration, Financial, franchise, Legal, Zealand

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Guest23160106

If establishing a business is one of your visa requirements, check that your chosen franchise will actually qualify at an early stage.Additionally, ask the following questions of the franchisor, in order to communicate effectively with your accountant and your legal advisor: • What are the total costs of going into the business: fees, set-up costs, leases, vehicles? • How does the franchisor make money? • Is there an initial franchise fee, an ongoing royalty fee which is fixed or based on turnover, or a mark-up on products sold to me by the franchisor? • Is there a guaranteed level of work or income? • How long does the franchise agreement last? Do I have a right of renewal at the end of the limited term? • Is there an exclusive territory? • How soon can I have a copy of the franchise agreement to take to my lawyer?
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