Information Statements Under the New Code

If there is one things Franchisors should be doing this week (yes, apart from updating disclosure documents, amending franchise agreements, appraising themselves of the new law and reviewing policies and procedures...) you need to ensure that Information Sheets are given to a prospective franchisee when it formally applies or expresses an interest in acquiring a franchised business.

You still have to comply with all of the other Code requirements, but as a first step make sure you are giving the prospective franchisees these information statements.