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Prospective franchisees in Australia will soon have additional access to franchise information before committing to a franchise agreement, as the government will now require franchisors to post key disclosure information online.On April 1st, 2022, the Australian government amended the Franchising Code of Conduct by imposing obligations on most franchisors to publicly disclose business information on the&nbsp;<a href="https://franchisedisclosure.gov.au/About?utm_source=1851franchise.com&utm_medium=article&utm_campaign=australia-ushers-in-new-era-of-franchise-transparency-with-public-register-2718490" target="_blank" rel="nofollow">Franchise Disclosure Register</a>. While franchisors may experience some additional burden by these disclosure obligations, the mandatory requirements outlined in the legislation are minimal. Many franchisors were already providing this information to potential franchisees, but the disclosures will now be mandated and made publicly available.Per the amended&nbsp;<a href="https://www.accc.gov.au/business/industry-codes/franchising-code-of-conduct?utm_source=1851franchise.com&utm_medium=article&utm_campaign=australia-ushers-in-new-era-of-franchise-transparency-with-public-register-2718490" target="_blank" rel="nofollow">Franchising Code of Conduct</a>, all franchisors must create a public profile and publish key disclosure information on the register by November 14, 2022. The&nbsp;<a href="https://franchisedisclosure.gov.au/Franchisors?utm_source=1851franchise.com&utm_medium=article&utm_campaign=australia-ushers-in-new-era-of-franchise-transparency-with-public-register-2718490" target="_blank" rel="nofollow">information that must be disclosed</a> on the registry includes: the franchise’s name, addresses, contact information, industry division and the financial year in which the franchisor operates.&nbsp;The franchisor will also be required to answer questions of interest to franchisees, such as “What is the standard term of franchise agreements?” and “Are franchisees entitled to compensation for goodwill in the business?” Additionally, franchisors have the option to include a Disclosure Statement, Key Facts Sheet, and a standard form Franchise Agreement used by the franchisor.Each year, franchisors who are registered will be required to confirm that the information on file with the registry is accurate.Failing to register by November 14th, 2022, could result in penalties of up to AUD $133,000.

Australia Ushers in New Era of Franchise Transparency With Public Register

1851 Franchise

Hosted by the Australian Government’s Department of Treasury, the Franchise Disclosure Register will increase the compliance burden for franchisors.

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Right at Home

Right at Home Expanding In-Home Care Services in Wausau, Wisconsin 

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The Growth Coach

Top 5 Reasons To Invest in The Growth Coach Franchise

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Caring Transitions

Planning Today for Peace Tomorrow: Caring Transitions on the Importance of Estate Planning

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Onigilly Japanese Kitchen

Onigilly Franchise - Target Market - San Diego - 1851 Franchise

Onigilly Japanese Kitchen Franchise Sets Sights on San Diego Expansion

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ServiceMaster Restore

Liberty Restoration Group Renews Proud Partnership with Lindenwood University Athletics

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Australia Ushers in New Era of Franchise Transparency With Public Register

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