Franchise Disclosure documents
Carolyn Dufton
The world of franchising is never dull that’s for sure!
I get to deal with existing franchisors, potential franchisors, existing franchisees and potential franchisees, so I see it all from both sides.
Consulting can be both very rewarding and very frustrating.
I get very frustrated when I look at some of the franchises out there for sale, and look over the proposed system and the documentation prepared.
Despite the latest amendments to the The Franchising Code of conduct, it would appear that there are franchisors who are either in ignorance of the changes or who are deliberately flouting the amendments.
As a consultant, in my opinion, a Franchisor who cannot keep abreast of the changes in the Industry and who has made no effort to check their documentation with a professional; loses credibility right from the very start. A new or potential franchisee needs to respect The Franchisor, and initial incorrect documentation does not get things off to a good start in my book.
So please, all you Franchisors out there, if you haven’t had your disclosure document changed since March 2008, you need to. Let a professional look at it and amend it accordingly so that you are confident that your paperwork meets the New Franchising Code of conduct. Even if you’re not embarking upon a period of expansion, your existing franchisees have the right to request an up to date document, so be sure you’re in a position to do this if asked.
Personally, I do a lot of this sort of work over the internet, so if you want me to have check over for you, please contact me at www.franchisingplus.com.au/contact.htm.
Author ; Carolyn Dufton Dip.Bus(franchising)
Carolyn is the principal of FranchisingPlus. FranchisingPlus is a franchising consultancy advising and mentoring on all aspects of franchising on a national and international basis.
The content displayed is franchisingplus copyright and can only be re-published with the permission of the author. www.franchisingplus.com.au/contact.htm.
