Sample Franchise Agreement
This Franchise Agreement ("Agreement") is entered into as of July 6, 2054 by and between [Your Company Name], a corporation organized and existing under the laws of the State of [State], with its principal place of business located at [Your Company Address] ("Franchisor"), and Fivesphere, residing at Huntsville, AL 35801 ("Franchisee").
1. Grant of Franchise
1.1 Franchise Rights
Franchisor hereby grants to Franchisee the right, and Franchisee hereby accepts the obligation, to operate a QuickBites Café under the trademark and business system owned by Franchisor.
1.2 Location
The Franchise Business shall be operated at the following location: Huntsville, AL 35801.
2. Term of Agreement
2.1 Initial Term
The initial term of this Agreement shall commence on the date first written above and shall continue for a period of 10 years.
2.2 Renewal
Franchisee may renew the term of this Agreement for additional 5 year periods, subject to Franchisee's compliance with the renewal conditions established by Franchisor.
3. Fees
3.1 Initial Franchise Fee
Franchisee shall pay to Franchisor an initial franchise fee in the amount of $500, due upon execution of this Agreement.
3.2 Royalty Fee
Franchisee agrees to pay Franchisor a continuing monthly royalty fee of 5% of the gross sales of the Franchise Business.
4. Obligations of Franchisee
4.1 Compliance with Standards
Franchisee agrees to operate the Franchise Business in compliance with the standards and guidelines set forth by Franchisor.
4.2 Training
Franchisee shall complete the initial training program provided by Franchisor prior to the commencement of the Franchise Business.
5. Termination
5.1 Termination by Franchisor
Franchisor may terminate this Agreement in the event of Franchisee's failure to comply with any material term of this Agreement.
5.2 Termination by Franchisee
Franchisee may terminate this Agreement upon providing [Number] days written notice to Franchisor.
6. Miscellaneous
6.1 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
6.2 Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether oral or written.
Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Franchise Agreement as of the date first above written.
[Your Name]
BluLeaf
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