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new business start up

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  • 19-08-2011 1:51pm
    #1
    audiboy
    Registered Users Posts: 38 ✭


    Hi
    I am in the process of purchasing a franchise and wondering whether anybody knows of a reliable solicitors firm who could have a look at the franchise agreement before i sign on the dotted line. I'm also looking for an accountant who can register me as a soletrader and advise whether i need to be VAT registered or not. I'm living in the meath area but i am happy to travel
    Thanks


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    #2
    ssbob
    Registered Users Posts: 2,736 ✭✭✭ssbob


    audiboy wrote: »
    Hi
    I am in the process of purchasing a franchise and wondering whether anybody knows of a reliable solicitors firm who could have a look at the franchise agreement before i sign on the dotted line. I'm also looking for an accountant who can register me as a soletrader and advise whether i need to be VAT registered or not. I'm living in the meath area but i am happy to travel
    Thanks

    Hi Audioboy,

    You can register as a soletrader quite easily yourself on revenue.ie but I would advise going to a local accountant and having a chat with him/her about the business, I am an accountant but do not know the full details of your case, what I can say is that you do not need to register for VAT if you do not expect your sales to exceed €37,500 in the year but you can if you feel it would be more beneficial to the business.

    As for a solicitor I am afraid I can't help you there but will guess that it won't be cheap.

    Bob


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    #3
    honeymonster
    Registered Users Posts: 601 ✭✭✭honeymonster


    audiboy wrote: »
    Hi
    I am in the process of purchasing a franchise and wondering whether anybody knows of a reliable solicitors firm who could have a look at the franchise agreement before i sign on the dotted line. I'm also looking for an accountant who can register me as a soletrader and advise whether i need to be VAT registered or not. I'm living in the meath area but i am happy to travel
    Thanks

    You don't need to register as a sole trader, but if you are trading under a different name to your own you need to register with the cro.

    I would recommend my own accountant, he's based in meath also:

    Paschal Murphy & Co
    Address: Clonee Ctr Clonee Co. Meath
    City of Meath
    Phone: (01)8253083

    Steve


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    #4
    Chevy RV
    Registered Users Posts: 467 ✭✭Chevy RV


    honeymonster wrote: »
    You don't need to register as a sole trader, but if you are trading under a different name to your own you need to register with the cro.

    I would recommend my own accountant, he's based in meath also:

    Paschal Murphy & Co
    Address: Clonee Ctr Clonee Co. Meath
    City of Meath
    Phone: (01)8253083

    Steve

    You most certainly DO need to register as a Sole Trader with the Revenue. You also need to register your business name with the Companies Registration Office ( CRO ).

    For the Revenue, you need to fill out a TR1 form to register.
    For the CRO, you need to need to fill out a RBN form.

    Both forms are available from the relevant websites.

    Regards,


    Chevy RV


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    #5
    drunkmonkey
    Registered Users Posts: 28,199 ✭✭✭✭drunkmonkey


    I'd be more interested in an accountant looking at the P&L, that's one thing you need to get right if buying into something.
    In these kind of agreements there could be something in their like minimum staff levels that could send the business under in no time if trading isn't as expected.


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