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Work Essay

5672 words - 23 pages

Date of Incorporation: 1965
Franchising Since: 1974
Headquarters: Miami Springs, Florida
 
Business Description: Subway Restaurants sell foot-long and numerous other kinds of healthy sandwiches, salads, etc. in its franchise.
Franchise Offer: Subway offers highly qualified purchasers the right to operate and establish from a single location, a franchise selling specialty sandwiches, salads and other healthy edibles. 
Term of Agreement and Renewal
The length of the franchise term will be 20 years and as per the contract, Subway has all the rights to refuse the renewal in case the franchisee does not generate profits of fulfil compliance.
Investment Tables:
Initial Investment:
For a ...view middle of the document...

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Fees for Unpaid Balances (when payment is more than one week late) | Interest charge of 12% (or maximum allowed by law where the restaurant is located) per annum on amount owed. |
Fees for Unpaid Balances (when payment is more than one week late) | Late fee of 10% (or maximum rate allowed by law where the restaurant is located) per annum of amount franchisee owes may be charged. |
Fees for Unpaid Balances (when the franchisee defaults on payments because of a bank change without notice) | $50 |
Fees for Unpaid Balances (bounced check or pre-authorized draft) | $20 |
Fees for Unpaid Balances (When Subway or its affiliate incurs the expense) | Costs of collection, including lawyers' fees. |
Transfer | $7,500 plus $3,000 for any satellite. |
Location Rent/License Fee | $1,000 - $6,000 per month, estimated. |
Equipment lease | $2.70 per month per $100 |
Equipment Lease (upon transfer) | Transfer fee of 5% of buyout price. |
Equipment Lease (upon early termination) | Early termination fee of remainder of monthly payments, limited to 18 months' payments. |
Equipment Purchase and Freight Charges | Cost of equipment and buffer to cover freight charges, taxes, and other costs. |
Insurance | $800 - $5,000 per year. |
Indemnification | All liability, damages, and costs, including lawyers’ fees, incurred. |
Non-compete Violation | $15,000 for each competing store plus 8% of its gross sales, or $100,000 (whichever is higher) |
Confidentiality Violation | Subway's damages. |
Trademark Violation | $250 per day. |
Operations Manual | $50, subject to change in the future. |
Dispute Resolution | Half of arbitration fee, except franchisee will pay the whole fee plus costs, including lawyers' fees, management preparation time, and travel expenses if he/she withholds money from Subway or an affiliate.
If the franchisee breaches the provisions of the Franchise Agreement regarding mandatory arbitration, or restrictions on damages or against whom he/she can arbitrate, or the proper forum for an action, the franchisee will pay Subway’s expenses and the expenses of anyone named improperly, including lawyers' fees; the franchisee will be liable for abuse of process.
Probationary Case Management Fee - $500; Probationary Extension Fee - $250
Interim Order Case Management Fee - $250
Litigation Expense Fee to permit sale of restaurant -5% of gross consideration received for sale of restaurant, not to exceed $5,000 |
Co-Brand Continuing Fee | 0% - 8% of total gross sales of a co-brand concept. |
Fees Charged by Co-Brand Franchisor | Fees and rates set by third party co-brand franchisor. |
Optional Store Listing Service | $100 for each 90 day period. |
Fees for Software License, Maintenance, and Processing | For SubShop/2000:
$540 initial license fee for the software when the franchisee purchases the POS system from Par or Micros
Annual $400 software maintenance fee payable to Subway
$16.43 per year payable to a third party,...

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