12A - The Fundamentals of Franchising

In this episode, Greg Thomas introduces the concept of franchising, contrasting it with licensing and other business models. The discussion begins with a general overview of how franchising operates, focusing on the relationship between franchisors and franchisees. This episode highlights the Franchising Code of Conduct, outlining key elements like pre-contractual disclosure, marketing funds, and franchise agreements. We also touch on the Australian Competition and Consumer Commission’s (ACCC) role in enforcing transparency and regulation in franchising, emphasising the need for proper disclosure and business advice.