Some of today's largest businesses have used franchising to finance and accelerate their growth into global brands.However, franchising must be planned properly: As the most-franchised nation (per head of population) in the world, there is a very high level of awareness of franchising in Australia.
The Code is enforced by the Australian Competition and Consumer Commission and the penalties for breaching the Code are quite severe.
Click here to find out more about the Franchising Code of Conduct.
However, it is not an easy 'route to riches' for franchisor or franchisee, nor is it a panacea for the ills of a 'sick' business.
Establishing a franchise has to be undertaken with skill, patience and capital.
The Code was primarily introduced to outline the rights and responsibilities of franchisors to franchisees including particular requirements for disclosure of information, the provision of a cooling-off period, and unconscionable conduct.
Complying with the Code is mandatory, however registration with a central body, or "approval" is not required prior to the commencement of franchising.Due dates for certain Tennessee franchise and excise tax returns, business tax returns and Hall income tax returns will be Tuesday, April 18, 2017, instead of Saturday, April 15, 2017, to be consistent with the Internal Revenue Service (“IRS”) federal income tax filing deadline for most of the country.For more information, please read important notice #17-03. Full access to the Customer Relationship Management System for their area 5. Properly structured and well run it provides benefits and satisfaction for both parties.It is critical that intending franchisors get the right advice from the very start of their franchise journey and, in particular, that they have ensured all aspects of their intellectual property rights are protected prior to franchising.