Congratulations to Jacob Foster and FCF Fire & Electrical – An Award winning Australian Franchise
A huge congratulations to Jacob Foster, Managing director of FCF Fire & Electrical. He was recently recognised by the International Franchise Association as one of the winners of the “Next Gen” Franchise competition. This competition recognises excellent franchises across the globe that are built on quality service, competitive pricing, honesty and integrity. FCF Fire & Electrical is an Australian Franchise that fits this criteria.
We are proud to announce that FCF Fire and Electrical is one of the few Australian Franchise companies recognised by the IFA for this award. We see this award as recognition for what we have known all along. – that our customers enjoy quality, honest, competitive priced service where ever they are in Australia. This customer satisfaction is what ensures our Franchisees enjoy being part of a successful team and enjoy positive, ongoing relationships with their clients.
Who is the IFA?
The International Franchise Association exists to educate franchise owners on strategies to help them improve or enhance the probability of success and how their business is operated.
The association requires all franchise owners to follow a specific set of principles or regulations. These requirements prevent legal-enforced violations. They apply to areas such as business development, advertising, and technology. Check this link for the award.
Reviewing the Statement of Guiding Principles
The IFA Statement of Guiding Principles present regulations for franchise owners. These are a few examples of these principles used when buying a Australian Franchise Business or continuing to operate them.
- Brand standards should be maintained according to the high quality presented by the original company.
- Success is the purpose of opening a franchise.
- A clear understanding the business model is critical. Franchise owners should acquire advisement to ensure full comprehension of what is expected.
- All company owners make the final decision about granting approval for the franchise.
- The franchise owners should capitalize on any equity in which they built up into their franchise before the termination of the agreement.
- The franchise owners have limited rights for the use of trademarks, specific secrets related to the company, and all intellectual property. The owner has the right to define the rights and limitations for using these items.
- Company owners offering a franchise should have full comprehension of the franchise agreement terms.
- Company owners make all decisions about successor rights. Negotiations by the prospective franchise owner is possible. These prospective owners aren’t obligated to accept these offers.
- A proactive business relationship is needed between the company owner and the franchise owner. This promotes complete transparency.
- Company owners should help enforce Brand Standards. They should provide adequate support for the franchise owner throughout the process.
- Full disclosure of the Uniform Franchise Offering Circular enables better choices.
How Important is It For Franchises to Follow These Principles?
It is important for an Australian Franchise to follow these principles to ensure appropriate relationships between the company owner and prospective franchise owner. These guidelines ensure that the franchise owner is educated about the opportunity provided to them through the venture. They promote exchanges between the company and the franchise owner to improve the potential success rate of franchises.
FCF Fire and Electrical is a terrific Franchise Business in Australia. They follow the IFA guiding principles as directed to increase the rate of success of these franchises. With superior success and integrity, they offer the opportunity for up and coming entrepreneurs to open their own franchise.