“You’ve narrowed down the business, you have identified the business, what according to you would you do as the next steps?”, asks Safir Anand at Brand Licensing India 2015, organised by Franchise India.
Indeed where does the focus lie at the time of initiation of a new business collaboration. Contrary to popular belief, taking and integrating vanilla agreements, Safir Anand espouses the importance of knowing your partner and making clear what the intended business process will be. In fact, what are the core strengths, what is the mindset of the partners and the meeting of the business minds will all determine variations from a standard form contract and the adjustments both parties will have to go through.
Watch Safir Anand host a practical and hands-on panel on the goings-on before parties agree to build a franchisor-franchisee relationship.