AAHOA released its updated 12 Points of Fair Franchising (the “12 Points”) as an educational primer earlier this year, continuing its mission and commitment to educating AAHOA Members on best-in-class, mutually beneficial franchise systems.
Currently, about 82% of AAHOA Members own and operate a hotel franchise. Many of you rely on the franchise business model to achieve entrepreneurship, contribute to your communities, and support your families.
From termination rights and liquidated damages to franchise sales ethics and practices and dispute resolution, the 12 Points cover a lot of ground. To continue to empower AAHOA Member-Franchisees toward more successful franchise hotel ownership, AAHOA is launching the 12 Points of Fair Franchising Webcast Series - a 12-part video series where AAHOA President & CEO Laura Lee Blake dives deep into each point and invites industry leaders to share their experience with fair franchising.
To start, the first video in the 12 Points Webcast Series dropped today! You can now watch Blake discuss termination rights and liquidated damages, a key provision in many franchise agreements.
“What AAHOA proposes in its very first point of Fair Franchising is that a franchisee should only pay six months of royalty fees for early termination. That way, they are paying liquidated damages not as a penalty but as an average multiplied by 600 months or $500 per room maximum so that there’s a negotiated lesser amount,” explained Blake in the Point 1 video.
Also featured in the first video is AAHOA Lifetime Member Dr. Jay Patel, who further underscores the significance of Point 1, and specifies things to keep in mind when signing your franchise agreement.
Watch the first video in our 12-part video series today! Stay tuned for more 12 Points Webcast videos this fall.
You can also check out our new 12 Points Webinar Series Landing Page. This page will include all the videos once complete, and you can also see when the release date will be for each video. Once the series is completed, you will be able to find them all on this page.
But wait, there’s more. Blake also reflected on helping an AAHOA Member, who had been struggling financially and unable to keep up with brand standards, navigate termination rights and liquidated damages. Watch Blake share how important point number one was for this member and the special “thank you” gift Blake received for her help during the entire process.
AAHOA President & CEO Laura Lee Blake received fine China as a special gift from an AAHOA Member as a thank you for her help navigating termination rights and liquidated damages.
Original source can be found here.
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