New education program for would-be franchisees

By Patrick Avenell

SYDNEY, NSW: The ACCC has today released an education program for would-be franchisees. The module seeks to protect individuals from investing large sums without fully knowing what they are getting into. Harvey Norman and The Good Guys are the two most prominent franchise-based consumer electronics retailers in Australia.

"The program will be a one-stop shop, providing potential franchisees with a better understanding of their rights and obligations under the Franchising Code, and some of the practical issues they could face as a franchisee," said ACCC deputy chair Michael Schaper.

"As has been recognised in the Expert Report on Franchising Code of Conduct recently commissioned by the Minister for Competition and Consumer Affairs, early education of potential franchisees is a critical factor in their business success and compliance with the code. 

In addition, the need for earlier and better information was underscored by recent research from Griffith University, which revealed that 49 per cent of the franchisees surveyed relied heavily on their 'gut feeling' when deciding to go into franchising.”

"Anyone thinking about buying a franchise should enrol in the program.”

More information can be found at this website: http://www.franchise.edu.au/pre-entry-franchise-education.html.
 

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