Start-up Checklist

McDonald's Restaurant Purchase/Sale Decision

McDonald’s Corporation recognized Concannon Miller & Co.’s expertise in this area by naming us an approved vendor of independent valuation services for McDonald's franchisees.

Ask us, we can help

1. What type of entity should you be?
Proprietorship
Partnership - general or limited?
C Corporation
S Corporation
Limited Liability Company

2. Entity recommendations vary based on store locations and financial situations. In setting up your entity, did you consider:
Legal Liability
Social Security/Medicare taxes
Federal, state and local taxes
Costs
Flexibility
Trade name

3. When setting up your accounting system, did you consider:
Chart of accounts Location of business office
One-write check system Filing system
Computerized bill paying Electronic transmissions
Payroll system Standardized financial statements
Petty cash fund Sales function
Register change fund Start-up expenditures
Tax deposit procedures End-of-month procedures

4. Are you familiar with your state’s sales and use tax law? How do you handle out-of-state vendors?

5. Have you obtained financing?
Equity requirements
Preparation of cash flow projection
Various sources of financing
Terms of loans
Business Facility Lease (BFL)

6. What bank accounts need to be set up? What is the best cash management system?

7. What federal, state and local application forms need to be filed?

We have the answers to all of these start-up questions. Every start-up store has its own unique problems. We provide solutions.