All Topics / Value Adding / Company or Trusts?

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  • Profile photo of AlanRoAlanRo
    Participant
    @alanro
    Join Date: 2004
    Post Count: 1

    I am looking to buy a franchise with 2 other people. I am unsure which structure would be more appropriate. Can anyone give any advice on the difference between setting up a company or a trust?

    Is there a good accountant in Adelaide that anyone can recommend?

    Any help will be appreciated!

    Alan

    Alan

    Profile photo of MJTMJT
    Member
    @mjt
    Join Date: 2004
    Post Count: 80

    Hi AlanRo, Companies are definately more expensive to set up.

    You should talk to your accountant about the best structure for your business and anything else that fits into your plan.

    Getting it right now could save you a lot of time, money and stress in the long run.

    Matt

    Profile photo of geogeo
    Member
    @geo
    Join Date: 2003
    Post Count: 1,194

    Usually a Company Trust includinga partnership sould be the best option – but confirm this with your solicitor and accountant.

    secondly, do a search on ‘Franchise’ on this site as it has been discussed a few months ago.

    Kind Regards,
    George.

    I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

    Profile photo of MyydralMyydral
    Member
    @myydral
    Join Date: 2003
    Post Count: 259

    You may also find that the franchise may decide for you how it will be set up. Some of them have their own structures that you have to follow.

    “Looking forward to the day when I can tell the boss where to go”

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    All of your details are made public when using a company. Trusts are very private.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 5 posts - 1 through 5 (of 5 total)

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