Franchisee Yes or No???

sky19821127

Hi, I am thinking to start a business by join a franchising chain.
Could someone let me know . To become a franchisee of a business , do i need to set up a limited company first or a register as a sole trader or parternership?:rolleyes: Thanks a lot!

DubTony

Depends on the franchisor. But the chances are you'll be signing personal guarantees, so there will be no protection for you as a limited company. What's the franchise?

sky19821127

DubTony wrote: »

Depends on the franchisor. But the chances are you'll be signing personal guarantees, so there will be no protection for you as a limited company. What's the franchise?

Hi,

Thanks for your reply

Say i want to join a franchising company from USA . i think at least i need to register in ireland as a company first right ? then i will use his name ...i am confused ..
i wouldnt leave nothing to register for sales of products anyway ...

DubTony

Say you've a "AmericanCompanyName" of Ballygonowhere. You'll be registered as a sole trader called "YOUR NAME" t/a (trading as) "AmericanCompanyName, Ballygonowhere"

or

as a limited company you'll be

"Limited Company Name" t/a "AmericanCompanyName, Ballygonowhere"

The franchisor will allow you to use the BRAND to identify the store, but for all business your limited company name or sole trader name will be the business name (t/a franchise name).

sky19821127

that is really useful to me Tony

That means ,it looks from outside that i am running a franchisors business.but i must have my own company first. right.

i will be paying tax using my own registerred comany name ..

From what you said there , is that really a option while registering a company that i can register my company name and TRADE as franchisor's name ?

Do you know if where i can find a these information from ???

Cheers!

DubTony

Yup. You've got it.

You're best bet is an accountant, but you'll get some info here
www.cro.ie