child mortarboard gbp briefcase bath coffeecup tree twitter search crosshair fax house papers sort house-pound brochure list-items notes printer video-camera video virtual-video bath bed camera floorplan heart-empty heart-filled heart-empty-thin heart-filled-thin sofa calculator compass share clock list map-pen map-pin pencil save business-card letter phone heard people pointer cross linkedin google-plus facebook arrow-right close triangle-down my-wink my-wink-thick house-circle loading-spinner bell close-circle dog link pinterest school transport wardrobe arrow-up one two three four five six seven tick

Franchising terms for potential franchisees

The Franchising industry can seem a little daunting if new to it. Although some terminology can differ from contract to contract, there are a few terms that any potential franchisee seeking to join a property franchising company should familiarise themselves with.

Below are some explanations of some key terms that Winkworth use in the sales (SFA) and lettings (LFA) franchise agreements (FA).

Franchisor – The parent company that permits individuals to use their name, brand and trademark for a set period. In this case, Winkworth.

Franchisee – You the individual, together with your permitted assigns and successors, seeking to use the name and systems of the franchisor to run your business under.

Intellectual property rights – Means any patents, rights to interventions, copyright and related rights, trade names, trademarks and domain names.

Manual – Relates to sales and lettings manuals provided by the franchisor that all offices should abide by in the day to day running of the business.

Service Company – Means the potential franchisees individual company name officially registered with companies house. Note that individuals cannot use any words in their service company name used in the franchisors trade name (definition below).

Term – Means the length of time that the FA will run to. This varies from company to company.

Territory – Winkworth offices operate in exclusive territories to protect each offices’ business needs. Individual offices are given an exclusive territory negotiated between the potential franchisee and New Franchising team. It is worth noting that no territory will ever be granted to more than one office.

Trade name – Relates to the franchisors trading name, in this case “Winkworth” and any other such trade name that the franchisor develops during the term.

These are just a few words and expressions used under the clause named Definitions and Interpretations in the Winkworth FA’s. The New Franchising team will run through any aspects of the FA with all potential franchisees prior to coming on board.

If you would like to learn more about joining Winkworth, please contact the team.

Interested in knowing more about owning a Winkworth office?
Contact our New Franchising team

James Campbell | Gina Piper
newbusiness@winkworth.com | 020 7355 0200

Related posts

The role and responsibility of the Franchisor

Franchisors like Winkworth have an ongoing responsibility to support the operations of the franchisees and their teams in the network and provide continuous development in systems, processes, infrastructure and revenue streams for the offices.

Read post

February 20, 2020

Winkworth Tooting celebrates success under new management

The established Winkworth Tooting office has been trading out of its premises near Tooting Bec station for over 20 years now. In January 2018, the business was sold to a new franchisee and Charles Mitchell was hired to manage and grow the office, which over the last 24 months, he has achieved successfully both in terms of local awareness and revenue....

Read post

February 14, 2020

How Winkworth’s central services department helps franchisees

Winkworth’s central services department is built up of two key elements with the aim of improving the company’s market share. Client services is focused on delivering instructions to the Winkworth offices through database management and provides an important link between the two to ensure no opportunities are missed. The corporate relocation aspect of the department offers a centralised, streamlined

Read post

February 06, 2020

Find your Local Office

Find your Local Office

Speak to people who, quite simply, love their patch and love what they do.

Get a Free Valuation

Get a Free Valuation

Thinking of selling or letting your property, or just interested to know what it is worth nowadays?