100% of UK franchisors in agreement!
Franchise specialists and bfa members Owen White Solicitors have conducted an independent survey of UK bfa (British Franchise Association) franchisors to find out how much they understand about the franchise agreements they issue and to discover if the agreements offer a positive contribution to the relationship with potential and existing franchisees.
The survey which was sent to all full, associate and provisional bfa members revealed that:
- 86% of franchisors who replied said they used a bfa affiliated solicitor to draw up their franchise agreement with 75% who replied saying that they did so because they ‘wanted to use a specialist firm and be in the very best hands possible’
- 64% of those who replied said that their franchise agreement had ‘helped’ them to positively resolve a dispute with a franchisee
- 92% of those who replied in June 2014 said that they fully understood all the clauses and their purposes, in their current franchise agreement
- 100% of franchisors who replied thought it was important to have their franchise agreement regularly updated and 71% of those who replied have had their agreement updated within the last 12 months.
Jane Masih, head of franchising at Owen White said, ‘It is good to know that franchisors appreciate the value of instructing a bfa affiliated solicitor, acknowledging how valuable advice from a specialist franchise lawyer can be, for the growth of a successful franchise network’.
Pip Wilkins, head of operations at the bfa said, ‘It’s reassuring to see such widespread use of bfa affiliate member solicitors, who must evidence specialist knowledge and experience of franchising in order to join the Association and therefore offer franchisors the finest expertise on correctly structuring their business model from a legal perspective. Their comprehensive understanding of current legal issues, of the Code of Ethics and of ethical franchising standards, are paramount to every franchisor seeking proper advice on a critical aspect of successfully running a sustainable franchise network.’
All completed entries to the survey were put in a draw to win £1,000 of free legal advice from the franchising team at Owen White Solicitors and the winners have been informed.