Information for franchisees:
Why buy a franchise?
The advantages of franchising, for franchisees, include: The negation of the need for external expertise or consultation to expand, the ability to rapidly acquire know-how and learn processes, and the benefits of being associated with the franchise’s reputation.
Franchise Law Essentials
Founder and Principal Solicitor Ilya Furman discusses the importance of having a legally valid Franchise Disclosure document and other features of franchise law.
Seeking the right advice:
Franchising is a distribution model and it is important to note that this model requires a unique system created for the particular business. Often businesses do themselves harm by choosing to franchise a successful small operation.
The Disclosure and Cooling-Off Periods
Founder and Principal Solicitor Ilya Furman explains the legal significance of the 14-day disclosure period and the 7-day cooling-off period.
Franchising in Australia:
Franchising in Australia is regulated by the Trade Practices (Industry Codes – Franchising) Regulations 1998 (“ Code ”) which is a code of conduct, prescribed pursuant to Section 51AE the Competition and Consumer Act 2010 (“Act”).
Types of franchisees:
Franchising in Australia has been effectively implemented in several different business relationships. Carefully consider the type of franchisee you plan to become.