The news, for small business owners, that their failure to read through the entirety of a franchise agreement has cost them a lot of money is never welcome, but the North American Securities Administrators Association offers some tips for avoiding such pitfalls.
The devil, according to the group, is in the details. What small business owners don’t know could very well hurt them, in any number of serious ways.
For example, NASAA said, familiarity with all the requirements – including those in the fine print – imposed on a franchisee by a parent company could spare a small business owner the expense of violating a franchise agreement by using an unauthorized supplier or changing their product offerings. Read on.