When purchasing a franchise business, one of the key steps to get right in the process is Disclosure.
As a prospective franchisee, knowing what to do with the Disclosure information when you receive it and knowing who to talk to, can help save you money and time in the short or long term.
Ignore the information provided within the Disclosure Document at your peril!
What form does a franchise agreement need to be provided in during this period?
How long is the disclosure period itself?
Who should you be speaking to in the Disclosure process?
How are you going to gain a view on the details of operation, to help you determine if you can see yourself involved in this business?
“Careful, inquisitive and thorough” a great description of a solid approach to the Disclosure stage of the franchising process.
Ilya is the principal of FranchiseLegal, a nationwide franchise law firm, and has provided franchising legal advice to franchisees and franchisors for many years.
Tune in to this episode to hear the answers to the questions above, and to also hear more detail and recommendations from Ilya.
Links referred to in this episode:
Read more about Ilya here
Franchise Legal website here
An online copy of the Australian Franchising Code of Conduct can be accessed here (although I would add, that digesting the contents and putting any of the references to use is often best left to the experts – folks like Ilya that is!)