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Starting Franchise Business

When starting a franchise business, there are various considerations to take into account. First, from a legal perspective, a standard disclosure form is most likely required. This form, which is mandated by the Federal Trade Commission, is referred to as a "Uniform Franchise Offering Circular." In addition, there may be franchise registration requirements in each state where the franchise will operate. Next, accounting issues must be considered. In order to move ahead with the registration referred to above, it is necessary to have your accountant prepare financial statements for review. Moreover, the business entity for your franchise company must be selected. Thus, the entity could be a partnership, corporation or sole proprietorship, depending upon the circumstances. Furthermore, marketing plans must be developed which also include market research. All of these items should be included in a business plan.

Fast Facts

  • Many franchises will not consider selling unless a business plan is presented
  • Franchise businesses include fast food restaurants such as McDonalds, Subway and Wendy's

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  • Small Business Resources

    For small business owners, there are many resources on the internet where helpful legal and professional infor...
  • Choosing the Right Business Entity

    Starting a business entails careful planning and understanding of both the substantive and procedural aspects ...
    • By: Rodney Mesriani
    • Site: smallbusinesslawfirms.com
    • 1 of 1 user(s) found this useful
  • Business Law in Hawaii

    Choosing a legal domicile for a new business isn't as simple as just registering with the nearest county or st...
    • Site: lawfirms.com
  • Tax Assessment Statutes

      The old myth is you can’t outrun death and taxes. While you certainly can’t outrun death, the statute of lim...
    • Site: taxationlawfirms.com

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