Not all relationships are built to last. When a partnership between a franchisor and franchisee turns sour, a termination could be in order.
HotelNewsNow.com asked hoteliers from across the industry to offer their tips on how to handle what often can prove a sticky situation. Listed below are their five pieces of advice.
1. Look closely at the agreement
First things first: Read the agreement closely. Believe it or not, there are hoteliers who don’t look closely enough at the franchisor/franchisee agreement, said Tim Shuy, VP of owner relations and franchise management at Choice Hotels International.Have a lawyer look over your contract before you put ink to paper.
“Some franchise companies—not ours—put clauses in offering certain terms, but those terms can disappear,†Shuy said. “Make sure you understand these terms and what could constitute those terms being revoked.â€
2. Know your window of opportunity… read on.