Franchise Code of Practice
The franchising code of practise was introduced by the Franchise Association. This code only applies to member of the association. It requires franchisors to produce a detailed disclosure document covering many areas to do with the franchise. Another requirement is the provision of a seven day cooling off period should the franchisee decide to change his or her mind about continuing.
The purpose of the Code of Practice is to encourage best practice throughout franchising in this country and to provide comfort for those who are coming into the franchise business to ensure that a standard is maintained.
It also provides a basis for self regulation of the franchise industry and demonstrates to the public as well as to country leaders that franchising is able to regulate itself and ensure that people do not lose their investment easily. Every member of the association has to agree to be bound by this code before they can obtain membership.
Code of Ethics
Members of the Fr...
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