“Many of you will have listened to the Prime Minister’s statement on Tuesday lunchtime which announced the loosening of some restrictions to allow more businesses to open. We recognise that sectors in franchising are still impacted by the restrictions in place and are offering our support to these sector trade association’s to support their continued lobbying efforts.
I am pleased that we were approached by Sky News on Tuesday to discuss the impact on franchising of the Prime Minster’s announcements live with Ian King. Although this segment did not go ahead, due to the volume of questions in the house, it will be rescheduled for a future date.”
– Pip Wilkins, CEO
Pre-Covid 19 Disclaimer and Disclosure Statements:
The Code of Ethics developed by the European Franchise Federation, and the bfa’s Guide to the Code, make it clear that pre-contractual disclosures to prospective franchisees should be honest, transparent and complete. Financial illustrations must reflect what the franchisor and its franchisees have actually achieved in practice. They should include a disclaimer and disclosure statement that clearly explains: a) What the illustrations are based on and b) That they are not guaranteed.
Our Standards Manager, Andy said, “During the last few months, we know that there are many franchisors and franchisees that have been unable to trade either in the same way they usually do, or even trade at all. This means that additional care needs to be taken when preparing forecasts. Where forecasts being provided to prospective franchisees are based on periods pre Covid 19, this must be made clear in writing”.
We will be publishing a new user friendly eBook of the bfa’s Guide to the Code of Ethics shortly…watch this space!
The Leading Educator
Coming up this week:
Tuesday 30th June – 4pm
Franchisee Power Hour:
‘The Power of a Phone Call’
Simon Burlison and Jess Pritchard
– Moneypenny –
How to ensure a professional & personal touch is continued over the coming months.
Wednesday 1st July – 11am
‘Change Considerations for Franchisors’
– Ashtons Franchise Consulting –
The considerations and changes a Franchisor needs to consider for a resilient and positive future following the pandemic.
Thursday 2nd July – 4pm
Franchisor Power Hour
hosted by Pip Wilkins
Your chance to chat, ask questions on your agenda or simply soak up the content rich conversation from your franchising peers.
Friday 3rd July – 3pm
Pop Up Power Hour for
Affiliates and Suppliers
– Hosted by the bfa –
An opportunity for bfa affiliates and suppliers to find out what’s new, how things have changed and a chance to support one another.
As more and more franchisors are sharing the franchisee offering with their networks, we continue to see a steady stream of registrations for free franchisee membership. This has taken the total to over 350 franchisee members which is the largest franchisee representation in the history of the bfa. To see this number continue to rise, we need all of our Members to get behind this initiative so I have again included the link and influence pack for your information.