Franklin was driving in the Sydney suburb of Rose Bay just after 7pm last night when he clipped a parked car, forcing the airbags to deploy as he then careered into more cars parked on the side of the road.
The 27-year-old fronted a packed press conference on Thursday morning to briefly answer some questions about the incident, where he expressed his shock and remorse, as well as his relief no one was hurt.
"Obviously shock," he said when asked of his initial reaction. "Anyone that's in an accident, the immediate reaction is just shock and a little bit shaky too.
"I was devastated and just so thankful that no one else was in the car with me and no one was in the car next to me."
Franklin conceded it was frustrating to be back in the spotlight once more.
"Obviously there's frustration, more for myself than anyone, this is something no one wants to go through," he said.
"An accident is an accident, but I don't want to see myself in the spotlight again and obviously I've found myself in it again.
"I just want to move forward as quickly as possible and get onto this week's game."
Swans coach John Longmire admitted this episode was an unwelcome distraction, but said the club was satisfied with Franklin's version of events and wouldn’t be taking any further action.
"Clearly you'd prefer it didn't happen," Longmire said.
"As Lance mentioned, fortunately he wasn't injured and no one else was injured.
"That's the most important thing to come out of this, that no one was hurt.
"The club has spoken to Lance and that's what he said happened and the police spoke to him for half an hour after the incident and they're satisfied with what Lance said as well.
"We get into football mode now."
Franklin stressed it was just an unfortunate accident and no other factors were involved.
"I didn't see the car on the left-hand side of the road, it was just an accident, accidents do happen and that's pretty much it," he said.
"I wasn't texting, I wasn't speeding, it was just an accident.
"I'm so glad no one was hurt and for the people's cars that were hit, we can get them fixed up as soon as possible and move on."
The Swans’ playing group was addressed when it arrived at the club on Thursday morning, before attention quickly turned to Saturday's game against Melbourne at the MCG.
Franklin kicked four second-half goals in last week's impressive victory over Fremantle that got the Swans' season back on track and Longmire is confident the key forward can put this incident aside.
"Yeah he can," Longmire said. "Ultimately he's here to play football.
"It was a really unfortunate thing that happened last night, but we're here to prepare today and prepare for Melbourne this week."
