This disclosure document contains some of the information you need in order to make an informed decision about whether to enter into a franchise agreement. Entering into a franchise agreement is a serious undertaking. A franchise agreement is legally binding on you if you sign it.
You are entitled to a waiting period of 14 days before you enter into this agreement. If this is a new franchise agreement (not a renewal, extension or transfer) of an agreement, you will be entitled to a 7 day ‘cooling off' period after signing the agreement, during which you may terminate the agreement. Take your time, read all the documents carefully, talk to other franchisees and assess your own financial resources and capabilities to deal with the requirements of the franchised business..
You should make your own enquiries about the franchise and about the business of the franchise.
You should get independent legal, accounting and business advice before signing the franchise agreement. It is often prudent to prepare a business plan and projections for profit and cash flow.
You should also consider educational courses, particularly if you have not operated a business before.
