Go into your new franchise with top advice and be sure you understand your obligations.
Franchising is heavily regulated and anyone entering a franchise arrangement needs to be familiar with all legal issues.
Chris Nikou, a partner at law firm Middletons, says that anyone about to take up a franchise needs to work through the complex legalities. They should also get top accounting and business advice before signing anything. “Better advised franchisees on the way in make for much happier franchisees during the journey and there is less disputation,” Nikou says.
All franchisors, including those based overseas, have to comply with the Franchise Code of Conduct that forms part of the Trade Practices Act, which in turn is supervised by the Australian Competition and Consumer Commission. Full article.