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LexisNexis Practical Guidance®
Straightforward guidance across a range of topics
- Purchase and sale of business
- Parties
Buying and selling a franchise
A franchise business is based on an agreement with a franchisor. Accordingly, selling a franchise requires action on behalf of the franchisor including:
- • Consent. The franchisor must give consent, pursuant to s 24–25 of the Franchising Code of Conduct.
- • Disclosure. The franchisor must give disclosure pursuant to ss 13–17 of the Franchising Code of Conduct.
- • Franchise Agreement. In most cases, the franchisor will require the purchaser of the business to sign a new franchise agreement.
See Buying and selling a franchise.
