Looking for more info on franchising? Look here: Good article! As a retired franchisor and part-time consultant, folks often ask me about what they need to do to franchise their company. Not long ago someone requested about franchising an accounting firm in the Northern Midwest. This sector perhaps excellent for the “franchising format” model; the accounting man willneed Audited Financial Statements, and disclosure paperwork (FDD -Franchise Disclosure Doc). In looking at area they might consider it appears that; -Michigan is a notification state as I recall. -IL is a registration state, -NY is a registration state -IN is a notification state and I imagine KY can also be, -OH is open. Registration states, I believe there are 14 of them that require filing and it is a process. Notification states you mail in a check, fill out a form, and enclose your disclosure documents. Check all this out with a franchise attorney and ensure they are specialists in the franchising industry. If you are thinking about buying a franchise, go to here: take a look here In medical franchises, I imagine the board of directors must have licensed medical docs, and its suppose to be a ratio, as I perceive it. So, I might assume that in an accounting type franchise the same can be true. And god forbid, should you only had one CPA and he or she already quit? The audited financial statements for the franchisor have to be peer reviewed and no hanky-panky with regards to board members and auditors or peer reviewers, otherwise you’ll set your self up for litigation later. The principle franchise ought to have CPAs on the board, and it could truly be required, you may have to seek legal advice on this. The franchisees should have a CPA in the firm, like a co-owner. There might be guidelines on that too, and state legal guidelines, many of which might be different. Oh by the way, earlier than we go too much further, understand that I’m not an lawyer, so I don’t want you to imagine I am practicing legislation and not using a license, this is just general stuff, you need to confirm my comments with a franchise lawyer specialist, just as I would as a consultant if I were being paid by a client who was looking into franchising an accounting company. I might take a look at “Jackson Hewitt” and among the
What Recommendation Have You For An Initial Business Accounting Company Ready To Franchise?