The Two Principal Parties In A Franchising Agreement Are The

The success of the chain has given a model for other franchisees to follow. The franchise agreement is essentially a legal document between the franchisee and you (the franchisee). It is a legally binding agreement. It explains in detail what the franchisee expects of you as a franchisee if you operate every facet of the business. There is no standard form of franchise agreement, as the terms, conditions and methods of operating different franchises vary greatly depending on the type of business. The franchising boom did not take place until after World War II. Yet the basics of modern franchising date back to the Middle Ages, when landowners entered into franchise-type agreements with collectors who kept a percentage of the money collected and returned the rest. [3] The practice ended around 1562, but spread to other efforts.