Over Disclosure In Franchising Has Scary Implications
Posted on January 30, 2008 - Filed Under Business
There are rules in franchising that a Franchisor must list all their franchisees in the Uniform Franchise Offering Circular or UFOC that must be given to any franchise buyer prior to purchase. This document is required and runs about 260 pages or more and it is often put online by government agencies. Meaning all the names and addresses of franchisees are public record, an obvious invasion of personal privacy.
Our franchisees use to really complain to us about all the phone calls this caused. In fact, many asked to be removed from the list, but as a franchisor, we couldn’t by law, worse states like CA, put them on the Internet. In fact, we had soap sales people from Australia calling them up and even competitors, it was outrageous. I bet Al Qaeda would love to know where all the franchisees for a “Mobile Onsite Fueling” lived?
How about the Chinese wanting to find all the listings for “Shred It” franchisees to steal US Corporate secrets, the FBI stated recently there were over 4,000 Chinese Spies in our nation. It is just obvious that this is a real problem, but oh no - every Franchisor is suddenly evil? Yah, sure.
It seems over regulation and over disclosure laws are not only impeding the Franchising Industry from reaching its full potential, but also causing some serious security issues for our nation. We need complete de-regulation in the Franchising Industry and many other industries if our nation is to stay strong and our small businesses are to flourish. We must pay attention to how America is destroying the hand that feeds them - our survival depends on it.
L. Winslow is an Economic Advisor to the Online Think Tank, a Futurist and retired entrepreneur http://www.worldthinktank.net . Currently he is planning a bicycle ride across the US to raise money for charity and is sponsored by http://www.Calling-Plans.com and all the proceeds will go to various charities who sign up.
Tags: bet, bicycle ride, chinese spies, corporate secrets, disclosure laws, economic advisor, fbi, franchise buyer, franchisees, franchisor, futurist, hand that feeds, names and addresses, personal privacy, serious security, stay strong, ufoc, winslow, yah
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