The franchise sector is an important contributor to the Irish economy both in terms of the employment it creates and the wealth it generates. The growth in the franchise sector in Ireland looks set to increase through new franchisees setting up their own businesses, through existing indigenous businesses using the franchise model for expansion and through new non-Irish franchises entering the market due to our strong domestic economy.

Business Format Franchising is a business method in which the franchisor (developer) grants to the franchisee (investor) the right to run a business selling a product or providing a service under the franchisor’s business format and identified by the franchisor’s trademark or brand. This includes a format for the conduct of the business, a management system for operating the business and a shared trade identity.

Franchising is a comprehensive business relationship whose four essential elements ensure a better success rate than starting a non-franchised business. These are:

If you rent out your property, or a room in your property to visitors for short-term lets there are certain tax implications, and there may also be other rules that you need to follow. Short-term lets are stays of less than 14 days at a time, for example, if you rent out your property on a booking website such as Airbnb.

If you are renting out a property, or a room in your property for short-term lets, you may have to apply to your local authority for planning permission to change the use of the property, so it can be used for tourism and short-term letting purposes.

Travel insurance can seem like a boring and unnecessary item on your pre-travel to do list – why spend money protecting yourself against a holiday disaster which may never happen? However, expensive holiday disasters, such as cancellation, medical emergencies or lost possessions, can strike at any time, whether you’re popping over to Europe for a long weekend or travelling the world for two years.

The main items covered by travel insurance are:

• Cancellation Cover
• Emergency Medical Expenses and Repatriation – NOTE There are many travel medical plans available that include Covid related medical expenses. But since not all do, it’s important to verify Covid coverage before buying a plan if it’s a priority for you.
• Personal Possessions, Travel Documents and Gadgets.
• Activity Cover - Some travel medical insurance policies won’t cover expenses that resulted from activities such as mountain climbing, skydiving or parasailing.