What are the three conditions of a franchise agreement?

A franchise agreement typically includes three key conditions: first, the franchisee must adhere to the franchisor's operating standards and guidelines, ensuring brand consistency. Second, the franchisee is required to pay initial fees and ongoing royalties for the use of the brand and support services. Lastly, the agreement outlines the duration of the franchise, including renewal terms and conditions for termination, ensuring both parties understand their rights and obligations.