Cutler Hughes Harris - Preparing for the changes to the Franchising Code
The changes to the Code come into force on 1 March 2008. Cutler Hughes Harris notes that time will quickly run out for franchisors to prepare and outlines five key areas:
1 Are you a master franchisee under a master franchise granted by a foreign franchisor? If so, your foreign franchisor must now prepare a disclosure document.
2 Check your franchise agreement for waivers
3 Do your franchisees pay money into a marketing or other co-operative fund?
4 Review your disclosure timing and procedures
5 Amend your disclosure document
Preparing for the changes to the Franchising Code