QUESTION

Do I need a franchise license if I have 3 business locations?

Asked on Jan 04th, 2013 on Business Law - New York
More details to this question:
What type of benefits will I get by applying for a franchise license for my restaurants. Will I be able to make more and work less? How much will it set me back? How quickly can I get it rolling?
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1 ANSWER

Business Transactions Attorney serving Los Angeles, CA at Doland & Fraade
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I am not licensed in your state, and it may have something called a "franchise license" but I think you are contemplating creating a franchise. A "franchise" as used in English and as used in "law" are quite different. In English it means a group of stores united by a common name and product line. In law it is a regulated legal entity which is based on a registered trademark, a licensing system, and must be registered federally and in every state where it sells or does business. It requires, among other things, audited financial statements and obtaining "franchise registration" is not a Do It Yourself project. A CPA is a well advised member of the overall team.
Answered on Jan 04th, 2013 at 10:57 AM

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