The Information Statement is a standard document set out in annexure 2 to the Code. It is a generic statement designed to inform prospective franchisees of a number of key matters before they make the commitment to enter into a franchise agreement. It includes an explanation of what franchising is and what the franchising relationship involves, the risks of franchising, information on where to obtain more information and online education courses on franchising.
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When should it be provided?
The timing for providing an Information Statement is not fixed, however, a franchisor should not allow delays once a formal application or an expression of interest has been received.
A franchisor must exercise its best judgment about what is a formal expression of interest in acquiring a franchised business.
Examples:
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within 7 days of the enquiry being made
How should the information statement be provided?
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