Understanding and minimising the risks that a franchisee can face is essential for success. Here at WGC Lawyers, we’ve long been a trusted commercial law firm in Cairns and across Queensland. In this article, we’ll cover the risks that could appear in your franchise agreement, how regulations could impact you and go over how your business can avoid common pitfalls. Contact our team today to have a detailed discussion.
What Risks Could Be In Your Franchise Agreement?
Your franchise agreement explains the legal requirements, rights, fees and obligations between you and the franchisor. This agreement can contain a number of potential risks, including high or ongoing fees, restrictions on how you can operate your business and penalties for non-compliance. An experienced lawyer can examine your agreement and help you to understand the potential risks.
How Can Regulatory Issues Cause Risk For You?
Franchising arrangements are governed by a number of legal and regulatory requirements at both the state and federal levels. This can include requirements on licensing obligations, workplace health and safety, disclosure standards and more. Your commercial lawyer will help you understand which regulations apply to you and how you can minimise any potential liability that may arise from said regulations.
How Can Your Business Avoid These Dangers?
To avoid falling into legal traps and exposing you or your business to liability, it’s important that you take proactive and consistent steps. These include:
- Keeping detailed records of communications.
- Track deadlines for reporting and payments.
- Carefully examine all franchise agreements and guidelines to ensure compliance.
An experienced lawyer is your best option for ensuring that you remain in line with commercial law in Cairns and across Queensland.
If you are, or are considering being, a franchise owner, you must take steps to identify and mitigate the related risks. As a trusted commercial lawyer in Cairns, WGC Lawyers specialises in helping you to understand your franchise agreement, how state and federal regulations apply to your franchise and how you can avoid legal pitfalls. Contact us online, or call us on (07) 4046 1111 for a consultation!