Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

help please

  • 26-03-2010 8:52pm
    #1
    daithi09
    Registered Users, Registered Users 2 Posts: 239 ✭✭


    Hey, If you accountants can't help me out, no one can. I'm looking to buy into a franchise. I don't want to start asking to see the books of people who have already joined and I was wondering if there is any other way I could see their earnings or turnovers for last year etc. I think there is a way online but don't have a clue where to start. thanks for any help.


Comments

  • #2
    greendom
    Registered Users, Registered Users 2 Posts: 16,382 ✭✭✭✭greendom


    daithi09 wrote: »
    Hey, If you accountants can't help me out, no one can. I'm looking to buy into a franchise. I don't want to start asking to see the books of people who have already joined and I was wondering if there is any other way I could see their earnings or turnovers for last year etc. I think there is a way online but don't have a clue where to start. thanks for any help.

    They would need to be a limited company for you to have access to information and even that is relatively limited (no pun intended), Any info available will be found at the CRO www.cro.ie. Sole traders won't be listed here though (or anywhere come to that)


  • #3
    daithi09
    Registered Users, Registered Users 2 Posts: 239 ✭✭daithi09


    Thanks for your help.


  • #4
    daithi09
    Registered Users, Registered Users 2 Posts: 239 ✭✭daithi09


    Me again, just wondering do you have to pay for the info. or am I missing something? It's only a 2.50 charge just wondering if I'm going about it the right way..


  • #5
    greendom
    Registered Users, Registered Users 2 Posts: 16,382 ✭✭✭✭greendom


    daithi09 wrote: »
    Me again, just wondering do you have to pay for the info. or am I missing something? It's only a 2.50 charge just wondering if I'm going about it the right way..

    I'venot done it myself but I think there is a small charge for accessing submitted company info. I think it might be free though if you go to the CRO offices


  • #6
    DoMyBooks
    Registered Users, Registered Users 2 Posts: 355 ✭✭DoMyBooks


    daithi09 wrote: »
    Me again, just wondering do you have to pay for the info. or am I missing something? It's only a 2.50 charge just wondering if I'm going about it the right way..

    If you want to give me the company numbers ill give you the info you need FOC.


  • Advertisement
  • #7
    Mr Clonfadda
    Registered Users, Registered Users 2 Posts: 372 ✭✭Mr Clonfadda


    Do not buy into any business without seeing their existing books.

    Accounts with the CRO can be up to eighteen months old and thats if the company is upto date with its filing.


  • #8
    djk1000
    Closed Accounts Posts: 899 ✭✭✭djk1000


    I suggest that you find out about the franchisor and about some franchisees. CRO information is a little limited and won't give you a full picture of the franchisees (assuming they are small businesses).

    There is no substitute for talking to existing franchisees, ask the franchisor to make introductions to franchisees that you select, offer to sign a confidentiality agreement and ask all the questions you can about turnover/profit etc.

    A well run franchise with happy and profitable franchisees should have no problem in being open with information.

    Franchisors usually give you financial projections for a "typical" franchisee, these projections usually come with disclaimers to protect the franchisor, get your hands on these, ask about how the best and worst performers compare and get that in writing. Have an off the record chat with a few franchisees and ask them how the projections stack up.

    I can't stress enough how important it is to build a bit of rapport with some franchisees and ask them the tough questions, that will give you a far better feel for the proposition than abridged accounts from the CRO, you won't even get a profit figure from CRO in most cases and that's really the most important figure to have.


Advertisement