Calling all business-minded people! Join our team and get something special for free. Giveaways are often a big part of business promotions, but franchise giveaways seem to be a growing trend.
Although hardly the first, 7-Eleven is in the midst of its franchise giveaway for veterans. The contest, running since late last year, will award a franchise store to a veteran this month. In addition to the contest, 7-Eleven also announced an initiative to waive the franchise fee on a select number of its U.S. stores available for franchise.
At first glance, these types of giveaways may seem like a dream come true. And for the right person, it might be. But keep in mind the ‘catch.’ As with almost any contest, there are rules. The fine print in this case indicates qualifications for the potential veteran franchisee. Some of the qualifications include, but are not limited to:
– The person must be a first-time prospective franchisee
– Have excellent credit
– Have at least three years of leadership, retail, or restaurant experience
Similarly, the contest can only be won, and a franchise awarded in a state where the franchisor is registered. So in addition to the proper procedures for the contest by the applicant, the franchisor must go through the proper legal procedures to be able to award that franchise.
Depending on the franchise, there could be a lot, or a few rules to abide by in a franchise contest giveaway. Even if it is a contest, having good legal representation can help assure both franchisor and potential franchisee remain in good standing with each other. HLK, PC is one of the law firms that can help. Click here to contact me and find out how HLK, PC can help your franchise business.