You will need a legal suite of documents.
You will also need an experienced franchise lawyer.
Owing to the legislation in Australia, we have a mandatory franchise code of conduct. This code was brought into force in 1998 and has been updated since. Your franchise agreement will need to comply with the Franchise Code of Conduct, which is marshalled by the Australian Competition and Consumer Commission (ACCC).
The document requirements will include:
- A Franchise Agreement
- A Disclosure Document
- Several documents of acknowledgment
- A copy of the code
- Other tailored documents
Whilst a knowledgeable franchise lawyer will help you through this maze of documents, to ensure your safe passage, there are many facets of the agreement that you will need assistance from Marketminds on a commercial basis. To this end, we work closely with the lawyers and ensure a safe AND commercially viable agreement.
We can recommend lawyers that are known to us as competent franchise lawyers or you can use your own.
The Franchise Council of Australia (FCA) is the industry association that can be of great assistance to start up franchise companies for education and contacts. You can search on their website for lawyers and accountants that are members of the FCA. Also there are many other service providers to the industry available through the FCA.