Any chance a class action from previous franchisees post the senate committee inquiry.
https://www.news.com.au/finance/small-business/exploitation-fee-gouging-and-ruined-lives-the-horrific-reality-of-operating-a-franchise/news-story/701d5406ca166c3f0355b35b01660e73
Over one seven-year period, one large franchising company calledRetail Food Group(RFG) opened 1000 new franchises and closed 1100. RFG owns Brumby’s Bakery, Gloria Jeans, Donut King, Crust Gourmet Pizza Bar and Michel’s Patisserie. The senate committee report has suggested ASIC should investigate “churning and burning”.The committee was particularly harsh on RFG. In the final report it gave the company this damning indictment:
“The committee considers that RFG’s business model remains a high risk because it appears to rely on acquiring previously successful brands, opening new outlets, stripping out costs, exploitative fee gouging and increased costs to franchisees and cutting services to franchisees.”A statement released after the franchising inquiry findings said RFG fully supported any changes the senate committee might recommend and was working towards improving the experiences of its franchisees.
“The current management team and board completely understand that RFG’s future success is directly linked to the profitability of its franchisees,” RFG executive chairman Peter George said. “We have instituted a comprehensive program of investment and improvement to materially help existing and new franchisees grow and prosper.”
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