Florida Franchise Registration

Florida Franchise Registration

Florida is today and has been for some time one of the most prolific states for franchising.  There are an incredible amount of great brands, ideas and innovations that stem from the state of Florida.  This is due to several driving factors including a higher rate of new immigrants who come to America with business ideas and ventures and a state that supports small business owners with lower tax rates and a reasonable regulatory environment.  All of this combined creates an environment ripe with ideas and entrepreneurship.

Florida franchise registration is similar to other states which require filing to prove you are exempt from business opportunity laws.  The Florida Department of Agriculture and Consumer Services oversees this filing process and requires that prior to offering a franchise in the State of Florida, you should receive approval from the FDACS as being exempt.  Fortunately, the process like many other business regulations in Florida is generally simple and painless, but you do need to file and pay the required fee every year.

If you are considering offering a franchise in Florida, you must first have a Franchise Disclosure Document that is compliant with Federal Trade Commission Guidelines, this is true for every state in the U.S.  If your company is located in Florida, you may consider establishing your franchise entity in the state as well.

Start your Franchise Business in Florida:  www.Sunbiz.org

Once you have filed for your Florida Franchise entity, you will need to establish your EIN with the IRS.  This will be used to open your bank account for the new franchise entity.  Open a bank account and fund this account with an initial deposit, this then will represent your franchise company’s opening balance sheet statement.

Florida Franchise Registration requires a completed and compliant FDD.  At the time you have completed your Franchise Disclosure Document, you may now then submit the Florida franchise exemption forms to the FDACS along with the initial filing fee of $100.  The form requires that your franchise entity’s EIN is on this and you have signed the form.

The check should be made out to “FDACS” and the form should be mailed here:

FDACS

P.O. Box 6700

Tallahassee, FL 32399-6700

When you are approved for Florida Franchise Registration, you will be able to see the name of your franchise entity here on the Florida franchise registration search page: http://csapp.fdacs.gov/cspublicapp/businesssearch/businesssearch.aspx

Remember, Florida Franchise Registration requires that you are using a compliant FDD when presenting a Florida franchise investment and you will need to have a full 14 days from the date of approval to the date that the buyer is permitted to execute the franchise agreement.

For more information on how to register your franchise in Florida, visit the Franchise Marketing Systems site:  www.FMSFranchise.com/about-franchising/guidelines/stateregulations