Prospective franchisees will have access to a free online education program, funded by the Australian Competition and Consumer Commission (ACCC) in a bid to prevent franchisees going into the sector with the unrealistic expectations.
The program, which starts in July, will consist of five 45 minute online training modules. Participants will learn about franchise specific issues including franchise fees, royalties, operation manuals, marketing funds and site selection.
General business concepts will also be covered such as working capital and cashflow, leasing arrangements and dispute resolution.
The program will be run by Griffith University’s Asia-Pacific Centre for Franchising Excellence and will be available nationally. More.