How long does it take to buy a franchise?
Buying a franchise is not quick, and the law makes sure of it. Here is a realistic timeline from first look to opening day.
How long does it take to buy a franchise?
The stages and how long they take
- Research and shortlist, weeks, comparing systems on cost, fees and fit.
- Disclosure and due diligence, at least 14 days by law, usually longer with franchisee calls, accountant and lawyer reviews.
- Finance, days to weeks for approval, faster for established systems.
- Signing and cooling-off, a 14-day cooling-off period follows signing.
- Setup and launch, weeks to months depending on training and site fit-out.
Why you cannot (and should not) rush it
The 14-day disclosure period exists precisely so you have time to read the documents, call franchisees and take advice. Using it fully is how you avoid an expensive mistake. A franchisor pressuring you to sign before the period is up is breaching the point of the Code, and showing you something about how they operate.
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Frequently asked questions
How long does it take to buy a franchise in Australia?
Commonly three to six months from shortlist to trading. The Franchising Code requires at least 14 days between receiving the disclosure document and signing, plus a 14-day cooling-off period after, so the compliance timeline alone is about a month, before due diligence, finance and setup.
Can you buy a franchise quickly?
Not legitimately. The Code's 14-day disclosure period and 14-day cooling-off period set a minimum of about a month, and due diligence should take longer. A franchisor rushing you to sign before the disclosure period ends is a warning sign.
What takes the longest when buying a franchise?
Usually due diligence and setup. Due diligence, franchisee calls, accountant and lawyer reviews, should not be rushed, and site fit-out or training can take weeks to months. The legal minimum is about a month; a realistic timeline is several.
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