The British Franchise Association (BFA) has released its updated ‘Guide to the Code of Ethics’, thebfa.org reports.
Essential to both franchisers, franchisees and those considering franchise opportunities, the revised guide clearly explains what behaviours constitute ‘good franchising practice’. The new book no doubt covers all aspects of the industry, from the initial franchise agreement to managing employees.
Until now, the BFA had used a 1970 guide on which to base its advice for ethical franchising. Martin Mendelsohn’s 1970 book, ‘The Ethics of Franchising’, was arguably the go-to bible. For the best part of thirty years, this book has been perceived as the UK franchising industry’s benchmark.
Mendelsohn’s book expanded on the European Franchise Federation’s (EEF) Code of Ethics, which is widely considered to be the ‘overarching document for franchising across the continent’. It allowed the BFA to apply EFF guidelines simply to the British market.
However, it has for the first time been updated and re-written to produce this latest incarnation. According to the BFA, the Code has been ‘reworded to be better-suited to modern UK franchising and more transparent, and is essential reading for every ethical franchisor, whether well-established or not’.
Franchises will be expected to adhere to this Code – though it’s in their best interests, as the BFA will do more to promote those who do so. A case in point is next year’s British and International Franchise Exhibition, thefranchisemagazine.net writes. Only companies that have met the Code will be able to exhibit and therefore attract new business.