Franchising In Australia

InfoFranchise.com:

Franchising in Australia represents a dynamic small business sector contributing some 14% of the national GDP of Australia. It comprises enterprising, entrepreneurs as franchisors and franchisees, employing 426.400 Australian’s.

Franchising in Australia is well regulated, well educated and highly developed to enable those entering the sector to do so with confidence.

The franchise industry has been regulated by the Australian Competition and Consumer Commission (ACCC) since 1998; a cornerstone of the regulation is the Franchising Code of Conduct. Implemented on July 1, 1998, the Franchising Code of Conduct provides the most stringent national regulations for franchising introduced anywhere in the world.

The Code was primarily introduced to outline the rights and responsibilities of franchisors to franchisees, and includes particular requirements for disclosure of information, the provision of a cooling-off period, and unconscionable conduct. The Code is enforced by the ACCC, and the penalties for breaching the Code are quite severe.

Australian Franchise trusts on The Franchise Council of Australia, which represents over 600 franchise companies and the professionals who support franchising as a way of doing business. The FCA plays an instrumental role in the franchise industry, providing a common ground where Members enjoy a host of benefits to further their growth and development in their respective franchise businesses.

The FCA fosters a sociable, yet professional, culture among its members who are encouraged to share and exchange information and experiences within the industry. FCA has developed its own Franchise Academy, which provides Certificate and Diploma level courses in franchising, offering also the Diploma of Business.