Franchising industry holds its breath as FTC takes a closer look at regulations
Publishing timestamp: 2023-07-05 16:29:20
Summary
The franchising industry is awaiting the outcome of a Federal Trade Commission (FTC) review of practices in the sector. The FTC recently wrapped up a public comment period and received over 5,500 comments on the inquiry. The potential changes to franchise regulations could have significant implications for large restaurant and hospitality companies in the US and their employees. The FTC has not commented on any potential changes or when they could come. The International Franchise Association, the leading advocate for the industry, has raised concerns about how the FTC could use public comments to shape new rules. Labor advocates hope that potential oversight changes will improve working conditions for franchised employees. Major brands that use the franchise model, such as Marriott, Hilton, Yum! Brands, and McDonald's, have submitted comments to the FTC highlighting the positive aspects of franchising. The outcome of the FTC review and any potential regulatory changes could have a significant impact on the franchising industry.
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Keywords: business news, hilton worldwide holdings inc, marriott international inc, mcdonald's corp, yum! brands inc, small business, restaurants,