Ben Brookes Joins BFA Board of Directors, Championing Ethical Franchising "It was a huge honour then to hear I had been successful in joining such an elite group of professionals" #AgencyExpress #BFA https://lnkd.in/etce8q4U
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?????????? ???????????????????? ???? ?????????????? ???????????????? ???????? ???????????????? ???? ???????????? ?????????????? ???? ???? ???????????????? ???????? ???? ?????? ?????? ???????? ?????????????????? ?????????????????????????????? ???????? ?????? ?????????????????????? ???????? ????????????. The Code Review's recommendation 8 - "All franchise agreements should provide a reasonable opportunity for the franchisee to make a return on their investment" was the centre of the conversation this morning, and how this can be quantifiable for franchisees given the many variables that can impact the results franchisee achieve that are not always in the franchisors control. The key take aways for the morning were that franchise brands do need to be evolving and keeping across their data and results and the changes in their industry. Franchise brands need to be ensuring they stay relevant and viable; franchisees need to be doing their due diligence save in the long run by taking advice prior to purchase from franchising accountants and lawyers, and ensures their best interests taken into account; and that brands coming into the Australia market need to be reviewing models to factor in differences in labour situation and other costs that may impact the ability for franchise partners to make a reasonable return. Special thanks to Tamra Seaton from Keypoint Law for facilitating this discussion and for all who attended this Coffee Connect session! #FCA #CoffeeConnect #WesternAustralia #FCAEvents Clayton Treloar, CFE Yvette Sholdas MAICD
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Franchising-Over the years I have seen & heard 'the good, the bad, and the ugly'. I’m grateful to say I’m surrounded by the good, thanks to the British Franchise Association (BFA) and easyStorage. Being part of a company that champions ethical, regulated, and principled franchising has always been a core value in business for me. Starting my Qualified Franchise Professional (QFP) journey with the BFA is a huge milestone, one that allows me to formalise my knowledge and skills in franchising, while ensuring that I continue to learn and contribute to building something better. Yesterday’s kick-off session on Monitoring Franchisee Performance was full of valuable insights. We explored everything from KPIs, compliance, and data analysis tools like Fathom and QuickBooks, to encoraging collaboration, accountability, and growth across networks. A big thank you to Suzie McCafferty QFP, The BFA team, and my fellow cohort members for such a warm welcome and inspiring discussions. Franchising has the power to change lives, and I’m proud to be part of a network that’s committed to doing it the right way. Furthermore, a big thank you to Nigel Dawson and Tim Slesinger for enabling me to be part of both The BFA and easyStorage. #Franchising #QFPJourney #TheGood #EthicalBusiness #BFA #easyStorage #easyGroup #Leadership #FranchiseSupport #ProfessionalDevelopment #GrowthMindset #Collaboration #Accountability #FranchiseGoals #FranchisePerformance #BusinessEthics #Networking #ContinuousImprovement #Fathom #QuickBooks #FranchiseSuccess #IndustryStandards #2025Goals #MakingADifference
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The Government yesterday released an exposure draft of the proposed new Franchising Code of Conduct, which is slated to take effect from 1 April 2025. The exposure draft contains significant changes to compliance requirements in some areas, notably in relation to compensation for termination, franchisee return on investment, capital expenditure requirements, restraints of trade and termination.?Although some proposed changes will slightly reduce compliance costs (such as the removal of the Key Facts Sheet), the ability for franchisees to opt out of disclosure/cooling off and other efforts to simplify the Code are unlikely to provide meaningful benefits. The Government has invited stakeholders to make submissions by 29 October 2024, so there is a short window to influence the final drafting of the Code. The franchise sector will need to proactively engage during the consultation period to avoid unintended consequences,?and to attempt to secure genuine reductions in franchisor and franchisee compliance cost. To discuss the proposed changes and your options for contributing to the consultation process, please contact any member of the NRF national franchising team. View the materials here: https://lnkd.in/gZUmnTxF #franchising #franchisingcode #franchisingreforms #newfranchisingcode
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Franchisors are encouraged to start their Franchise Disclosure Document (FDD) updates in February, aiming to meet the April deadline from a December 31 fiscal year-end. The annual FDD renewal is vital for compliant franchising and provides potential franchisees with necessary, up-to-date information. It's also a key moment to reassess and refine the franchise agreement to enhance the business model. #FranchiseLaw #Compliance #FDD https://lnkd.in/d34-9Fh
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An Open Letter to the Franchising Community We all believe in the power of franchising to empower entrepreneurs and fuel local economies. It has been proven time after time. Right now, our business model is facing a critical challenge. The Federal Trade Commission (FTC) is considering new regulations that could profoundly impact how we operate as a franchise industry. The FTC has issued a 2nd RFI in regard to franchising practices, with the resultant possibility of sweeping, one-size-fits-all regulations. These changes will hurt the flexibility and innovation that make franchising so powerful. Franchising needs your help. Whether you’re a franchisor, franchisee, or industry partner, share your story with the FTC by October 10, 2024. Let them know how franchising has allowed you to thrive, the importance of collaboration in our model, and the risks to your operation posed by these potential regulations. Together, we can ensure the FTC understands the real-world impact of franchising. Stand with us to protect the future of our industry. Make your voice heard, it is powerful. Thanks, Y'all. ?? , Kristopher Bloomin' Blinds is a proud member and supporter of the International Franchise Association's efforts to protect, enhance and promote franchising. #Franchising #SmallBusiness #Entrepreneurship #FTC #Regulations #FranchiseIndustry https://lnkd.in/gVXR39zr
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?? Strelia Commercial Law Newsflash - July 2024 : New unfair terms in franchise agreements in the food retail sector ?? Olivier Clevenbergh and Camille Cornil ?? Franchise agreements in the food retail sector will soon be the subject of new unfair terms regulations as a Royal Decree dated 20 June 2024 has been published on 9 July 2024. Such Royal Decree extends, for the limited scope of the food retail sector, the list of unfair terms, based on the consideration that franchisees should be better protected. These new rules will be applicable as from 1 January 2025.? Click here to read our Commercial Law Newsflash for July 2024, available in French and Dutch ?? https://lnkd.in/exmMD9n6 #commerciallaw #franchise #retail #strelia #toptieronahumanscale
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This is an important franchising update about the latest exposure draft of the new Franchising Code of Conduct. Please feel free to reach out to me or our team if you would like to discuss this or are interested in participating in the consultation process.
The Government yesterday released an exposure draft of the proposed new Franchising Code of Conduct, which is slated to take effect from 1 April 2025. The exposure draft contains significant changes to compliance requirements in some areas, notably in relation to compensation for termination, franchisee return on investment, capital expenditure requirements, restraints of trade and termination.?Although some proposed changes will slightly reduce compliance costs (such as the removal of the Key Facts Sheet), the ability for franchisees to opt out of disclosure/cooling off and other efforts to simplify the Code are unlikely to provide meaningful benefits. The Government has invited stakeholders to make submissions by 29 October 2024, so there is a short window to influence the final drafting of the Code. The franchise sector will need to proactively engage during the consultation period to avoid unintended consequences,?and to attempt to secure genuine reductions in franchisor and franchisee compliance cost. To discuss the proposed changes and your options for contributing to the consultation process, please contact any member of the NRF national franchising team. View the materials here: https://lnkd.in/gZUmnTxF #franchising #franchisingcode #franchisingreforms #newfranchisingcode
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Diversity and inclusion are becoming pivotal in franchising: ?? 25% of franchisors now prioritise these values in their operations. ?? 50% acknowledge the importance of diversity in fostering innovation and building strong franchise networks. ?? The British Franchise Journal explores this and other key trends shaping the sector. Members have their copy; non-members can get theirs here: https://ow.ly/L3vR50Uu7iz #DiversityInBusiness #InclusiveFranchising #theBFA #BritishFranchiseJournal2024 Sponsor: NIC Services Group Ltd
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Check out our latest newsflah on the implementation of new unfair terms in franchise agreements within the food retail sector. Stay informed about how these changes might affect your business. ????
?? Strelia Commercial Law Newsflash - July 2024 : New unfair terms in franchise agreements in the food retail sector ?? Olivier Clevenbergh and Camille Cornil ?? Franchise agreements in the food retail sector will soon be the subject of new unfair terms regulations as a Royal Decree dated 20 June 2024 has been published on 9 July 2024. Such Royal Decree extends, for the limited scope of the food retail sector, the list of unfair terms, based on the consideration that franchisees should be better protected. These new rules will be applicable as from 1 January 2025.? Click here to read our Commercial Law Newsflash for July 2024, available in French and Dutch ?? https://lnkd.in/exmMD9n6 #commerciallaw #franchise #retail #strelia #toptieronahumanscale
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?? The BFA continues to set the standard for franchising excellence. Our CEO, Pip Wilkins, shares her insights in the?ICLG Franchise 2025?guide, focusing on ethical practices, inclusivity and innovation in franchising. ?? Learn more here:?https://ow.ly/AS8u50UuRCL #TheBFA #FranchiseLeadership #FranchiseStandards #Franchise2025 #iclg
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Humphreys Signs
1 个月Well deserved Ben. Keep in touch