With nearly 30,000 franchise units in NZ alone, made up of nearly 550 franchisors, these structures can come with airtight agreements, required minimums and consequences for failing to meet said standards. Working with a variety of franchisees and franchisors, we’ve seen it all. To help satisfy both parties, we take a hugely service based approach, not a set and forget. Our insurance solution would typically include;

Firstly, Working closely with the franchisor to analyse the contract and the franchisee requirements. If required, we can make recommendations to improve/refine.

The covers vary hugely on the franchise group in question but the basics still apply.

• Cover for any vehicles.
  • Including a loss of use option.
  • Including signwriting and fitout cover
• Cover for any tools, stock, contents (including whilst in storage and anywhere in NZ)
• Cover for the various liabilities, such as public liability, statutory liability etc.
• Any necessary business interruption covers.
• Contract works policies if required.

Ensuring the franchisor has noted interest where required and the franchisor has also got the correct covers in place at their end on a separate policy.

This model is easily overlooked in its complexity and usually requires a top down approach from a motivated franchisor, ensuring the grey areas are uncovered and filled in from both sides of the agreement.

Once up and running, you can expect frequent updates, consistent market analysis and an insurer on board who truly understands the risk of your franchise group. Make the most of your group buying power and organise a franchise group solution.