What is franchising?
Franchising has become one of the most popular business models in Australia to expand and grow businesses. Franchising allows a business owner (the franchisor) to expand their business to additional territories by partnering with and utilising the capital investment of franchisees. This allows the business owner (the franchisor) to share the risk and reward of growth with franchisees and achieve the growth in a quick and effective manner.
Franchising in Australia is heavily regulated and is governed by the Franchising Code of Conduct. The Franchising Code of Conduct is a mandatory code which applies to all business arrangements that fall under the Code’s definition of a franchise. It is important to understand the provisions of the Franchising Code of Conduct prior to setting up a franchise system or buying into a franchise business.
How we can assist franchisors?
We bring a breadth of experience in setting up franchise systems and regularly assist franchisors with the following:
- Preparing franchise documents for new franchise offerings
- Provide detailed and commercial advice in setting up new franchise systems
- Review existing franchise documents to advise on compliance and risk factors
- Issue disclosure documents, franchise agreement and other franchise documents to prospective franchisees
- Assist with renewals, transfer or termination of franchises
- Assist with restructuring and rebranding of franchise systems
- Undertake thorough compliance audits of existing franchise systems
- Assist with resolution of disputes with franchisees
How we can assist franchisees?
We offer fixed fee pricing in assisting frachisees with the following:
- Review of proposed franchise documents, provide advice on risks and recommend amendments to franchise documents.
- Assist franchisees in purchasing and selling franchises
- Review all other franchise documents including leases, security agreements and intellectual property licences
- Assist franchisees in resolving disputes with franchisors