32 - Franchising in Australia - what you need to know

In this episode, we delve into the world of franchising in Australia. We explore what franchising is, why it's attractive to business owners, and the different types of franchises available in Australia. The episode also covers the legal aspects, such as the Franchising Code of Conduct, and offers practical advice on buying a new or existing franchise. We'll discuss everything from initial franchise fees and ongoing royalties to the importance of conducting due diligence and understanding your rights and responsibilities. Whether you're new to the idea of franchising or already in the research phase, this episode provides valuable insights and tips to help you make informed decisions. 00:00 Introduction to Franchising in Australia 00:53 Understanding the Basics of Franchising 02:10 Why Franchising is Attractive 03:27 Types of Franchises in Australia 05:26 Legal Aspects of Franchising 07:36 Buying a New vs. Existing Franchise 10:14 Practical Tips for Prospective Franchisees 13:34 Franchisor's Responsibilities and Misleading Conduct 14:28 Handling Disputes and Conclusion https://business.gov.au/planning/business-structures-and-types/franchising https://www.accc.gov.au/business/industry-codes/franchising-code-of-conduct/about-franchising https://treasury.gov.au/franchising-code-of-conduct https://www.asbfeo.gov.au/disputes-assistance/franchising https://www.ato.gov.au/businesses-and-organisations/starting-registering-or-closing-a-business/start...