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What a key facts sheet includes
The key facts sheet highlights information that is in the disclosure document and helps franchisees navigate and understand the disclosure document.
The disclosure document is usually packed with information about the franchise. Reading the key facts sheet alongside the disclosure document can help potential franchisees to better understand information in their disclosure document.
The franchisor must ensure the key facts sheet reflects the information in the franchisor’s disclosure document.
When a key facts sheet must be updated
In general, the key facts sheet is updated when the disclosure document is updated.
Most key facts sheets and disclosure documents need to be updated within 4 months after the end of the franchisor's financial year.
There are only limited circumstances in which a franchisor won’t have to update the key facts sheet after the end of their financial year. Franchisors are not required to update the key facts sheet if they:
- entered into only one or no franchise agreements during the last financial year, and
- don’t intend to enter into a franchise agreement in the upcoming financial year.
However, if a franchisor receives a written request from an existing franchisee for a copy of the disclosure document, they must update the key facts sheet so that it reflects the position of the franchise as at the end of the most recent financial year. This applies even if they don’t intend to enter into a franchise agreement in the upcoming financial year.
Required format and information
The franchisor must ensure that the key facts sheet is in the format of the key facts sheet form ( PDF 257.61 KB ) which includes all the information that is required in a key facts sheet.
The key facts sheet form is a fillable PDF that can be downloaded from our website. However, the Treasury maintains the form. Questions about the form should be directed to smallbusinessfranchising@treasury.gov.au.
We don't process, store or collect any information entered into the key facts sheet form.
We encourage you to regularly check that you are using the most current version of the key facts sheet form.
When the key facts sheet must be given
Franchisors must usually give the key facts sheet to potential franchisees, at least 14 days before the franchisee enters into a franchise agreement or pays non-refundable money to the franchisor or the franchisor’s associate.
If a franchisee asks in writing for the disclosure document, the franchisor must give them a copy of the key facts sheet as well.