First franchise registry in Australia launched last week
Promotes greater transparency in the sector.
The introduction of the Franchise Registry™ means that franchise brands are now required to provide a current Disclosure Document and current Franchise Agreement each year and to also confirm these documents comply with the Franchising Code of Conduct.
To date, there are 1,100 franchise systems and 70,000 franchised businesses. Successfully registered franchise systems receive a unique franchise registration number which they can use in all dealings.
The registry will then provide people looking to enter franchising, and their advisors, with a base level of assurance in identifying genuine and responsible brands, helping disperse the cloud of uncertainty that persists over the industry as a result of recent Government inquiries.
Data collected from registered franchise systems is kept confidential, but is aggregated and provided to Government and other regulatory bodies to assist in the development and administration of the Australian franchise sector.
More than two hundred franchise systems are already listed on The Franchise Registry™. The registry can be found at the website www.thefranchiseregistry.com.au.
