Franchising your own business
Once you establish a successful business, you could consider expanding your operations by franchising. Franchising is a way of selling the right to run a style of business and sell a product or service for a period of time. <P> <P> Before you decide to franchise your business, you should ensure you have a successful and proven franchise model. Operating your own franchise model prior to selling a franchise can help prove your concept, establish demand and create sound processes and systems that can be repeated in each new franchise. <P> There is no specific franchise registration or approval process, but setting up is a legal process and can take some time. It is important that you plan thoroughly and seek professional advice from an accountant, solicitor or franchise consultant.- Complying with the Franchising Code of Conduct
As a franchisor, you are required by law to comply with the Franchising Code of Conduct. - Preparing your franchise agreement & manual
A franchise agreement is a legal contract that outlines the rights and obligations of both the franchisor and the franchisee and the relationship between them. - Understanding your tax obligations
As a franchisor, you need to understand your tax obligations and how franchising fees are treated for tax purposes. - Resolving franchising disputes
If a dispute occurs and it cannot be resolved between you (the franchisor) and a franchisee, the Office of the Mediation Adviser (OMA) can help you resolve it without going to court. - Expanding your franchise overseas
Franchising overseas will involve extensive research of your preferred country, especially details on their registration and legislative requirements for setting up a franchise.
This information is brought to you by business.gov.au
business.gov.au - Your business gateway to government information and services