The franchisee manual

Start-up checklist

Here are some of the key steps you should take before committing to a franchise opportunity.

  1. Assess your skills, strengths and weaknesses.
  2. Complete the Griffith University online pre-entry franchise education program.
  3. Get professional advice from an accountant, lawyer and business expert.
  4. Make sure you receive an information statement, disclosure document, franchise agreement and a copy of the Code. Read these documents carefully.
  5. Take comprehensive notes of your meetings with the franchisor. Insist on the franchisor confirming any claims it makes in writing.
  6. Speak to current and previous franchisees.
  7. Research the franchise and try to verify the information provided to you.
  8. If you will occupy premises as part of your franchise, make sure you understand your rights and obligations under the lease or occupancy agreement.
  9. Check clauses on termination, renewal, end of term and transfer of the franchise, and make sure you are willing to accept them.
  10. If the deal is not acceptable, try to negotiate a better offer or look for a better deal.