- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Anyone with experience in franchising from either side?
Posted on 1/31/24 at 12:15 am to BrianFlanagan
Posted on 1/31/24 at 12:15 am to BrianFlanagan
Far be it for me to judge as it sounds like you're in a better position than me, but I'd point out that if the act of filing some standard business paperwork has been a showstopper for you then this endeavor might not be for you.
Do you already run a business?
Do you already run a business?
Posted on 1/31/24 at 6:40 am to Thundercles
I do currently run a business. And, I have successfully filed and received three trademarks 100% on my own without the help of an attorney or anyone else. I’m in the alcohol business, which has about as many hoops to jump through, as possible, and do all of my own filings.
This isn’t filing normal business paperwork. The FTC requires this wildly comprehensive 23 part packet in which each section is not some simple form. Requires an operations manual, for example, in which the company I’m meeting with today said they typically run 300-400 pages in length. Every single detail of the business has to be written out black and white to where, for example, you have a franchisee in Baton Rouge and a different one in New Orleans and they both operate exactly the same.
I was just curious if anyone has had experience with the process on either side. Thanks!
This isn’t filing normal business paperwork. The FTC requires this wildly comprehensive 23 part packet in which each section is not some simple form. Requires an operations manual, for example, in which the company I’m meeting with today said they typically run 300-400 pages in length. Every single detail of the business has to be written out black and white to where, for example, you have a franchisee in Baton Rouge and a different one in New Orleans and they both operate exactly the same.
I was just curious if anyone has had experience with the process on either side. Thanks!
Posted on 1/31/24 at 7:03 am to Thundercles
Franchisor filings are far from “some standard paperwork.” The Franchise Disclosure Document is not something most businesses have to prepare and issue. We had in house counsel who pretty much spent their time preparing and updating it.
I worked for a year as a senior accountant at a franchisor for a -70 unit restaurant chain in 2018-2019. Im fairly certain you will be required to undergo an annual audit so that’s fun and expensive.
Any specific questions?
I worked for a year as a senior accountant at a franchisor for a -70 unit restaurant chain in 2018-2019. Im fairly certain you will be required to undergo an annual audit so that’s fun and expensive.
Any specific questions?
Popular
Back to top
Follow TigerDroppings for LSU Football News