Well, the deadline has passed. Did you get your disclosure documents renewed and up-to-date?
The updated Franchising Code of Conduct requires franchisors by October 31 2015 to create a disclosure document in a new format; some franchisors may also need to make amendments to their template agreement.
For franchisors who are listed with the Australian Franchise Registry, the organisation is reviewing all registered brands and updating their status to reflect those that have filed updated documents.
Darryn McAuliffe, managing director of FranData Australia and the registrar of The Australian Franchise Registry, highlights why registration is an advantage to a franchisor.
“Registration confirms their position as an upstanding, leading franchise brand that places a high importance on protecting the reputation of franchising; not just their own brand.
“It also promotes that their disclosure documents are current and have been updated to reflect recent code changes.”
In addition to promoting compliance, registration is designed to lead to better finance access for both new and existing franchisees.
McAuliffe says all information on the registry is held securely, confidentially and not used without franchisor consent.