The most fundament and crucial step towards deciding to enter into a Franchise arrangement is getting to know and understand the proposed franchise. Disclosure documents provided by franchise systems in Canada contain a wealth of information, which allows prospective franchisees an opportunity to gain valuable insight into the franchisor’s operations. It is extremely important you take the time to fully analyze the disclosure document and be ready to ask the franchisor any questions that arise from your review. Also, while the following information serves as a general overview, you must also seek your own legal and accounting advice when reviewing a disclosure document.
The document is provided to potential franchisees so that they may make a more fully informed business decision. In Canada, franchise systems are required by law to provide a Disclosure Document to prospective franchisees in the provinces of Alberta, Ontario and PEI. Although franchise systems are only legally required to provide Disclosure Document in these three provinces, many franchisors provide a disclosure document across all of Canada to assist prospective franchisees in learning about the franchise opportunity. Franchisors have different application processes for franchisees but will typically provide the Disclosure Document to prospective franchisees once they have been qualified as a potential franchisee and have shown serious interest in the franchise opportunity. It is not a public document and is usually only available to serious investors. In Alberta, Ontario and PEI the Disclosure Document must be provided a minimum of 14 days prior to the potential franchisee signing any franchise agreements or paying any funds. The Disclosure Document must meet legislative requirements and disclose all material facts regarding the franchise opportunity and the franchise system's history.
The disclosure document is only a summary of important information. Potential franchisees should study the franchise agreement in detail as this is ultimately the document they will be signing. Legal and financial advisors, along with the franchisor, will all assist potential franchisees in reviewing the documents and in clarifying the obligations as a franchisee of the franchise system. Lawyers with franchising experience can review the disclosure document so that he or she can ensure that it meets all legal requirements. Potential franchisees should also seek advice from an accountant and the bank to ensure that they can financially afford the investment. The bank may also request a copy of the Disclosure Document so that they can make an informed lending decision. ( from the CFA bhttp://www.cfa.ca/) For more information call our offices 905- 456-9969 or email ruby@rutmanlaw.com.
The most overwhelming part for a working pregnant woman is figuring out maternity leave. With so many rules, pay details, and important deadlines to keep track of, it’s easy to feel a bit lost. However, knowing everything about maternity leave in Ontario, Canada, can make the process much easier and less stressful. From your rights under the Employment Standards Act to ensuring you get the maternity benefits you’re entitled to, we’ll help you with every step! What is Maternity Leave in Ontario? In Ontario, “maternity leave” is formally known as pregnancy leave under provincial law. It is a job-protected leave of absence for employees who are pregnant or have recently given birth. It’s protected by the law through the Ontario Employment Standards Act (ESA), but it doesn’t pay you. There are two systems you need to know about: Ontario ESA – This makes sure your job is secure while you're...
Read MoreAt times, an illness or injury can stop you from working. Not only is it a matter of concern in terms of health, but also the financial stress that follows. The instability can make it difficult to manage everyday expenses like rent, groceries, and bills. While some employees may rely on paid sick days offered by their employer, longer medical leaves may require additional financial support. Fortunately, the residents of Canada have access to support programs designed to help during such times. One of these is EI Sickness Benefits, which provides temporary financial assistance to individuals who are unable to work due to a medical condition while they focus on recovery. By the end of this guide, you will know What EI sickness benefits are Who qualifies How much you may receive, and The steps involved in applying What Are EI Sickness Benefits? EI sickness benefits are a type of...
Read MoreLosing someone close to you is one of the hardest experiences in life. During this sad time, focusing on work becomes challenging. That’s why bereavement leave exists. It gives employees the time and space they need to grieve, attend funeral arrangements, and be with their families. In Ontario, bereavement leave is protected under the Employment Standards Act (ESA). There is so much you must know about this leave policy, so this guide covers: What is a bereavement leave Who qualifies for the leave If it is a paid or unpaid leave, and more When you know these details, you can properly determine if you are getting all the rights and entitlements from your employer. What is a Bereavement Leave in Ontario? Bereavement leave is a job-protected, unpaid leave for employees to help them heal after the sudden death of a family member. During this time, they can attend funeral services,...
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The most overwhelming part for a working pregnant woman is figuring out maternity leave. With so many rules, pay details, and important deadlines to keep track of, it’s easy to feel a bit lost. However, knowing everything about maternity leave in Ontario, Canada, can make the process much easier and less stressful. From your rights under the Employment Standards Act to ensuring you get the maternity benefits you’re entitled to, we’ll help you with every step! What is Maternity Leave in Ontario? In Ontario, “maternity leave” is formally known as pregnancy leave under provincial law. It is a job-protected leave of absence for employees who are pregnant or have recently given birth. It’s protected by the law through the Ontario Employment Standards Act (ESA), but it doesn’t pay you. There are two systems you need to know about: Ontario ESA – This makes sure your job is secure while you're...
Read More
At times, an illness or injury can stop you from working. Not only is it a matter of concern in terms of health, but also the financial stress that follows. The instability can make it difficult to manage everyday expenses like rent, groceries, and bills. While some employees may rely on paid sick days offered by their employer, longer medical leaves may require additional financial support. Fortunately, the residents of Canada have access to support programs designed to help during such times. One of these is EI Sickness Benefits, which provides temporary financial assistance to individuals who are unable to work due to a medical condition while they focus on recovery. By the end of this guide, you will know What EI sickness benefits are Who qualifies How much you may receive, and The steps involved in applying What Are EI Sickness Benefits? EI sickness benefits are a type of...
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Losing someone close to you is one of the hardest experiences in life. During this sad time, focusing on work becomes challenging. That’s why bereavement leave exists. It gives employees the time and space they need to grieve, attend funeral arrangements, and be with their families. In Ontario, bereavement leave is protected under the Employment Standards Act (ESA). There is so much you must know about this leave policy, so this guide covers: What is a bereavement leave Who qualifies for the leave If it is a paid or unpaid leave, and more When you know these details, you can properly determine if you are getting all the rights and entitlements from your employer. What is a Bereavement Leave in Ontario? Bereavement leave is a job-protected, unpaid leave for employees to help them heal after the sudden death of a family member. During this time, they can attend funeral services,...
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