FRANCHISEES STILL BETTER OFF UNDER NEW DISCLOSURE LAWS - Award Bookkeeping
The code’s changes mandate that all franchisors are required to disclose a range of additional information to prospective franchisees.
Deb Shugg said she welcomed the new laws as a way to weed out franchisors reluctant to share this information with prospective franchisees because they had something to hide.
“Of course, some of the legitimate problems emerging, like leasing arrangements, impact heavily on retail franchisors, but don’t apply to our service-based franchise operations.
“I just hope the Franchise Council of Australia and the Federal Small Business Minister Craig Emerson work together to resolve these issues quickly.
“Nonetheless, the new laws definitely appear to provide prospective franchisees with added protection and greater insight to the franchise business they’re interested in buying.
“For those reasons alone, I support them,” she said.
Ms Shugg said she had been concerned about some of the arrangements entered into by unsuspecting franchisees for some time and that the bad deeds of franchisors who did the wrong thing by their franchisees tarnished the whole industry.
“Reputable franchisors have little trouble complying with these obligations since we are interested in providing our franchisees with a business that offers them a good living in a supportive framework,” she said.
“Award Bookkeeping Company accounting franchise is proud of our franchise offering, as many of our franchisee bookkeepers and business consultants will attest, and are happy to disclose this additional information to provide more comprehensive disclosure to interested buyers of our franchise.”
Award Bookkeeping Company provides franchise businesses to small business operators with accounting experience and/or qualifications.
12.05.2008
FCA Member
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Contact Award Bookkeeping Company
Tel: 1300 130 343
Fax: 03 9727 1080
