What is the difference between buying a franchise or a business?
by 1st of March, 2021
Buying a franchise means you are entering into a franchise agreement with the franchisor that allows you to operate under their branding and business systems, usually for a set period of time. The agreement will outline your obligations, what happens during the agreed term and what happens after. As a franchisee, you are operating under the franchisor and are bound to the terms in the franchise agreement.
If you are buying a business, you are transferring the business ownership from the current owner(s) to yourself. This transfer involves all the assets and liabilities of the business. You may own and operate the business as you see fit in accordance with Australian law.
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