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7-11 franchise fee

We are 3 partners in a 7-11 store and I want to get out of the partnership. The store ownership is on other partner. I shared the franchise fee too when we purchased the store. Now may I ask for the franchise fee of my share as I am breaking the partnership? This could be silly question but I want to know.

Thanks.

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Answers (1)
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The BAF Group LLC
MD

It depends on the amount of money involved - which is to say that this is normally a point of negotiation in the overall sale of your portion of ownership. You need to know the overall pricing to expect, based on competitive sales for that kind of business, before you go into your negotiation. The best thing would have been to have this all outlined in a partnership agreement that would have been, or should have been written before you started; but I take it that this was not done, or at least outlined at that time. I would ask, but realize that the other partners may well refuse. It is not a silly question.

Oct 14, 2014

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