Agreements & law

Key Facts Sheet

The Key Facts Sheet was a short, standardised summary that franchisors had to give prospective franchisees under the previous Franchising Code. It was abolished when the current Code commenced on 1 April 2025, so it is no longer part of the disclosure process.

What it means

Under the previous Code, franchisors produced a Key Facts Sheet that summarised selected points from the disclosure document in a set format, so buyers could compare opportunities more easily. The current Code, the Competition and Consumer (Industry Codes, Franchising) Regulations 2024, removed that requirement from 1 April 2025.

The Franchise Disclosure Register no longer accepts Key Facts Sheets or disclosure documents, and earlier uploads were hidden from 1 April 2025. The Register instead shows franchisor-supplied information in standard fields, and the disclosure document remains the full, legally required disclosure.

If a franchisor today hands you a 'key facts' summary, treat it as marketing material rather than a Code document. The documents that matter under the current Code are the ACCC's information statement, the disclosure document, the agreement in the form it will be signed and a copy of the Code.

In practice

For quick comparisons between systems, use the Franchise Disclosure Register's standard fields, such as term, renewal, restraint, upfront and ongoing payments, and then read the disclosure document for the detail.

If you are reading guides or advice written before April 2025, check whether they refer to the Key Facts Sheet; if they do, the process they describe may be out of date.

A real example

A buyer comparing two coffee franchises in 2026 finds an old forum post telling them to read the Key Facts Sheet first. Neither franchisor provides one, because the requirement ended on 1 April 2025. The buyer instead compares both franchisors' entries on the Franchise Disclosure Register, then reads each disclosure document in full during the 14-day consideration period.

Key Facts Sheet, FAQs

Is the Key Facts Sheet still required?

No. It was a requirement under the previous Franchising Code and was abolished when the current Code commenced on 1 April 2025.

What replaced the Key Facts Sheet?

Nothing replaced it one-for-one. The Franchise Disclosure Register shows standard franchisor-supplied fields you can compare, and the disclosure document remains the full disclosure you must receive before signing.

What documents must I receive before signing now?

The ACCC's information statement first, then the disclosure document, the agreement in the form it will be signed and a copy of the Code. The franchisor can't sign with you until 14 days after you receive them.

See the full franchise glossary, the Fee Index or our buyer guides.