If you`re a franchise owner looking to terminate your agreement, it`s important to do so in a professional and proper manner. This includes sending a termination of franchise agreement letter to your franchisor.
A termination letter should be concise and to the point, while also conveying your reasons for ending the franchise agreement. It`s important to include all relevant details such as the termination date, reason for termination, and any outstanding obligations or payments that need to be addressed.
Here`s a sample letter you can use as a guide:
[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]
[Franchisor Name]
[Franchisor Address]
[City, State ZIP Code]
Dear [Franchisor Name],
I am writing to inform you that I have decided to terminate our franchise agreement effective [termination date]. The reason for my decision is [reason for termination].
I want to assure you that I will fulfill all obligations outlined in the franchise agreement prior to the termination date, including paying any outstanding fees or debts owed to the franchisor.
Please let me know if there are any further steps I need to take to ensure a smooth transition and termination process. I appreciate the opportunity to have been a part of the franchisor family and wish you and your company the best in the future.
Sincerely,
[Your Name]
By following these guidelines and using the sample letter as a template, you can ensure that your termination of franchise agreement letter is professional and effective. Remember to keep copies of all documents and correspondence related to the termination process for your records.