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Franchise Authority Nigel Mayne Gives Timely Advice; Franchising Offers a Greater Protection against Fraud
Nigel Mayne:In today’s tough economic times, many an individual can and will fall victim to investment fraud in their desire and perhaps desperation to find a new income stream to replace that of their lost employment. Many business opportunities don’t provide the protection that franchising offers. In many countries, franchising represents a greater protection against fraud due to the consumer protection and disclosure laws that now exist.
Many countries around the globe have disclosure laws – the US, Canada, Spain, Mexico, France, Germany, Australia, Malaysia and Brazil to name a few notable examples. Governments have enacted various franchising laws to provide protection to unsuspecting investors falling victim to various forms of commercial fraud.
In the US, as a result of fraud that has been committed over the years within the field of licensing and franchising, federal law is governed by the Federal Trade Commission (FTC) and has established disclosure and franchising laws to protect investors in this business model. The most recent Amended FTC Rule applies nationally to the offer and sale of franchises; in addition some states have their own franchise laws that apply to their state. These laws give protection to franchisees that reside in the state or establish a franchise business in the state. The Franchise Rule protects potential buyers of franchises by giving the material information needed in order to weigh prudently and independently the risks and benefits of this business model.
France, Spain, Italy and Belgium have pre-sale disclosure obligations. Australia has a mandatory Franchise Code of Conduct which regulates the contents of agreements. Brazilian franchise law applies in all Brazilian territory.
MatchPoint Franchise Consulting Network was founded in 2006 with a mission of helping companies expand their franchise networks and improve their system profitability. Its mission included improving the quality of new Franchisees coming into a system. From its inception it was clear that complimentary advice offered to franchise buyers on the web site and by MatchPoint consultants is vital to the would be franchisee to enable a better, prudent, buying decision. The advice offered by our consultants does not make us lawyers, but is there to help bring all advice sought by the potential franchisee to a high level of quality.
MatchPoint consultants trained by Nigel Mayne know the tell-tale signs of fraud in the industry. It takes the very few franchisors that practice franchise fraud to taint the dream of the franchisee. That’s where seeking the independent advice of an expert franchising consultant is prudent and invaluable.
About the Author
Nigel Mayne is a widely respected authority on Franchising. He is the founder and president of the MatchPoint Franchising Network. He can be reached at (001) (416) 644-1040 x233 via fax at (647) 724-0711 or via e-mail at nmayne@matchpointnetwork.com.
MatchPoint Franchise Consulting Network was founded in 2006 with a mission of matching individual Franchise buyers with the Franchise opportunity that is best suited for them. MatchPoint services are provided free to the Franchise buyer, helping individuals save both time and money while finding their ideal business.
To view more details about Nigel Mayne, or to get in touch with him, visit http://www.matchpointnetwork.com.