Going into Franchising

If you are considering franchising your business model or acquiring a franchise business, there is a lot of homework you need to do before you embark on this journey. Utilise the many resources available to ensure you fully understand the concepts involved and educate yourself before you make the leap – it may save you many thousands…

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Is buying a Franchise really for you?

Anyone going into business should spend some time engaging in a little navel gazing and examine (honestly) your attitudes, capabilities and goals. There are no guarantees of success just because you are buying a franchise business. A significant percentage of franchise failures are the responsibility of the franchisees themselves. Reasons for failure can include: The franchisee not…

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Buying a Franchise?

Before you take the plunge into buying a franchise business there are some must dos. The first on the list is to educate yourself about what you are really getting into. Research, reading and talking to people is a great start. Luckily for budding franchises there are very good resources – Start with the website…

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Are You Getting The Best Franchise Deal?

When pursuing a franchise opportunity, many franchisees are overwhelmed by the amount of paperwork involved and often forego the opportunity to negotiate better terms under a franchisee agreement, simply because they are in a rush to get the deal done. Also, many franchisees simply assume that franchisors have a “take it or leave it attitude”…

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End of Financial Year Checklist for Franchisors

Calling all Franchisors – you need to review and update your Disclosure Document by 31 October including the following: 1) Clause 21.1 of the Disclosure Document Statement of Solvency; 2) Clause 21.2 of the Disclosure Document Financial Reports for last 2 completed years; 3) Clause 21.4 of the Disclosure Document Statement of Solvency by a…

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Franchise Disputes

Resolving Franchise Disputes. One of the good things about the Franchising Code of Conduct is that it provides a mechanism for resolving franchise disputes. The Code states that a franchise agreement must provide for a complaint handling procedure that complies with the Code. A party to a franchise agreement who has a dispute with another…

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Franchisor Disclosure Document Update

Franchisor Disclosure Document Update. Time Limits Apply – Updating your Disclosure Document and Financial Reports. We are already well into the new 2016/17 financial year and for Franchisors that means getting organised to: Have their accountant prepare their financial reports for the 2015/2016 financial year; and Update their standard disclosure document, which requires a thorough…

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