You will want to review the lease to make sure that there are provisions to protect your brand. There are various provisions you may want to include, but most importantly, have permitted use and conditional assignment of the lease. You will also want to make sure the term will be adequate for the duration of the franchise agreement. Approval of the lease is for the protection of the brand and your benefit, not for the franchisee’s benefit.
Upon approving a lease, be sure to collect: the landlord’s name, contact information and address, the business address, lease start/end dates, lease renewal details, the date and a copy of the Contingent Assignment of Lease, and any special lease terms. It’s highly recommended to track all these things within a CRM set with reminders to be sent to you and the franchisee so all important dates are on record and honored.