Five tips for prospective franchisees

1. Familiarise yourself with the Franchising Code of CoductFranchisors must comply with the Franchising Code of Conduct, which sets out rights and obligations for those buying and running a franchise in Australia. If you’d like to familiarise yourself with the code, The Australian Competition and...

Business structure basics: franchising

If you’re looking to purchase a franchise, what you’re doing is buying a business with an established name, marketing and operating procedures.Prospective franchisees must also recognise that entering into a franchise agreement means you’ll need to follow the franchisor’s system of running and ma...

Buying a business?

Of all the investments one could make, purchasing a business has to have the most potential for risk. Strangely enough, it is probably one of the least scrutinised transactions we come across.It is always advisable to retain a business lawyer early to act for you in a purchase of business but, be...

Common legal issues for franchises and how to avoid them

Purchasing a franchise can be a great way to get into business ownership. You’ll get an established name, marketing, and assistance running your business.Marsh

Do your research: don’t get caught by a franchise scam

Although not particularly common, franchise scams do happen. As the Australian Competition and Consumer Commission’s ScamWatch points out, these scams often come in the form of a pyramid scheme dressed up as a reputable franchise. These scams or often found advertised online. Potential victim...