The idea of franchising a business is very appealing to both local and foreign entrepreneurs due to a set of advantages. One of the most powerful reasons to start a franchise business in Ireland is connected to the fact that the respective company is already well known throughout the world or the country; the brands sold by the company are also appealing to the consumer market.
A very important aspect is that the business methods applied by the company have already proven effective and this could almost guarantee the success of the business. There are few steps which have to be respected by all investors when investing in this type of business and our team of Irish solicitors could provide assistance in this matter, including for the drafting of a franchise agreement, which will stipulate the conditions in which the business can be carried out.
The following video offers a short presentation on the Irish franchise agreements:
Franchising industry in Ireland
Before establishing a franchising business in Ireland, foreign investors should know that this specific kind of business is not regulated by a strict set of rules. Still, franchising industry is controlled by the Irish Franchise Association Codes for Ethics, which prescribes the minimum provisions on how such business should be carried out.
One of the rules stipulates to have minimum one year experience in leading a business before applying for a franchise project; our team of lawyers in Ireland can provide more details on this matter.
Irish franchising agreement
The agreement signed between the franchisor and the franchisee should stipulate certain terms that have to be respected by both parties involved.
An important aspect in a franchise agreement refers to the intellectual property provisions related to the protection of a brand, a trademark, a copyright or a patent owned by the main company (the franchisor). It is important to know that the franchisee (the person opening a local franchise) does not have to apply for licenses, as the process will be completed by the franchisor.
The main elements of a franchising business should be the following:
• establishing a contract under the form of a franchising agreement;
• an operating manual, provided by the franchisor;
• training programs available for the franchisee.
Persons who need more information on the franchise agreements in Ireland can receive legal assistance related to the drafting of the contract from our Irish solicitors.