Franchisors, how to handle the cooling-off period
PUBLISHED ON 3RD OF OCTOBER 2017 ONLINE – FRANCHISING MAGAZINE ONLINE The Franchising Code of Conduct (Code) allows all new franchisees an opportunity to get out of the franchise agreement within seven days of signing it or paying any fee to the franchisor. This cooling-off provision only applies to new franchisees and is not applicable... Read More
What is in a franchise disclosure document?
PUBLISHED ON 30TH OF AUGUST 2017 ONLINE – FRANCHISING MAGAZINE ONLINE In Australia, the Franchising Code of Conduct requires all franchisors to issue a disclosure document to all its potential franchisees. The disclosure document must be provided in a prescribed form containing valuable information about the franchisor and its system. In particular, the disclosure document... Read More
4 signs it’s a franchise scam
PUBLISHED ON 22TH OF FEBRUARY 2017 ONLINE – FRANCHISING MAGAZINE (by Noha Shaheed) So you’re in the market for a franchise and want a business with a strong future. Unfortunately, among the many solid businesses in the sector, there are some which just aren’t worth your time and money. Here are a few tell-tale signs of... Read More
What happens if I don’t make money in my franchise?
PUBLISHED ON 7TH OF JULY 2016 ONLINE – FRANCHISING MAGAZINE After some deliberations, due diligence and thorough research you have made a decision and purchased a franchise business. However, the business is not performing as you expected and the income is not coming in or is coming in much slower than anticipated. You start asking:... Read More
Should you buy a franchise with your family?
PUBLISHED ON 26TH OF APRIL 2016 ONLINE – FRANCHISING MAGAZINE (by Noha Shaheed) The best things about a family are that you can completely be yourself. Unconditional love is a significant part of the relationship, and you have each other’s backs. Differences can occur from time to time, but you know your family members like the back... Read More
Looking for a franchise for sale? What are the risks?
PUBLISHED ON 11TH OF FEBRUARY 2016 ONLINE – FRANCHISING MAGAZINE Buying a franchised business is often seen by franchisees as a definite path to making large sums of money. This may be true for some, however, there are a number of inherent risks in buying a franchised business for potential franchisees which must not be ignored.... Read More
What you can learn from the Gelare case?
PUBLISHED ON 11TH OF NOVEMBER 2015 ONLINE – FRANCHISING MAGAZINE Franchisors, beware of providing earnings predictions and be ready to back them up: the Gelare lesson Many franchise lawyers have, for many years, advised their franchisor clients not to provide any earnings estimates to potential franchisees. Furthermore, the advice has always been that if any... Read More
When do I need to find a franchise lawyer?
PUBLISHED ON 2nd OF NOVEMBER 2015 ONLINE – FRANCHISING MAGAZINE I am ready to buy a franchise: when should I seek legal advice and what type of advice should I seek? Potential franchisees often wonder at which stage of their search for a perfect franchise business they should engage a lawyer. The simple answer is... Read More
Take steps to avoid disputes with your franchisees
PUBLISHED ON 29TH OF SEPTEMBER 2015 ONLINE – FRANCHISING MAGAZINE What can franchisors do to prevent disputes with franchisees? Franchising industry has, over the years, endured many high profile disputes between franchisors and franchisees. In most cases, lack of communication together with poor selection of franchisees have been the contributing factors to many franchise disputes.... Read More
What happens if I cannot pay my franchise royalties?
PUBLISHED ON 24TH OF AUGUST 2015 ONLINE – FRANCHISING MAGAZINE When buying a franchise, all potential franchisees have the vision of running a successful business and complying with the franchise agreement. However, the reality of business and the tough economic conditions may result in inability to pay the bills when they fall due including the... Read More