The Arthur Wishart Act of Ontario has provided new rights to franchisees and imposed more obligations on franchisors.
Under the Ontario Franchise Act, in order for a business to fit the franchise definition, the franchisee must be required to make a single, or continuing payments while operating the business – or as a condition of obtaining the franchise or as operating as a franchisee.
The Ontario Franchise Act began in the early 1980′s when the Ontario government commission proposed franchising laws that would require financial disclosure and registration. There are over 500 franchisers and well over 40,000 franchisees operating in Ontario, generating over $45 billion in yearly sales. The Franchise Act profoundly impacts everyone involved in the franchise industry.
Franchise agreements have become increasingly complex as the popularity of franchising has increased. Failing to recognize the risks in signing a franchise agreement may result in substantial financial loss to the franchisee.
Franchise lawyers Christopher Shultz and Miranda Cudmore would be pleased to provide her expertise in the acquisition of your franchised business. They will guide you through the complex process of buying a franchise, or franchising your business.