Purchasing a Franchise with 401K or IRA Funds
Who qualifies?
Almost anyone who has a retirement plan and is interested in buying a franchise or business.
How does it work?
FranchisesForSale.com can refer you to firms that specialize in this service. It’s all perfectly legal and easy, and best of all it allows you to access your funds to purchase the franchise of your dreams. Their Entrepreneur Rollover Stock Ownership Plans (ERSOP’s) let you use the money in your retirement fund to start a business, without be penalized or taxed. Now, you can purchase a franchise, buy an existing business, or start your own entrepreneurial venture with your own hard earned money.
What kinds of retirement funds qualify for this program?
No problem. You can consolidate all of your retirement accounts in the new retirement plan.
What is the process?
First, a new corporation is established for your new business entity. Next, your new corporation establishes a retirement plan. Then, your current retirement funds are rolled over into your corporation’s new plan. And lastly, the new retirement plan invests into the stock of your new entity. (Your retirement funds are invested into your new business corporation)
Is this a complicated process?
No. One phone call can usually determine if you're eligible for the program. This usually doesn’t take much more than half an hour. All of the paperwork is then handled via mail, email, fax and FedEx. On average, you'll have and can use your funds in about two to four weeks.
Why does the IRS allow this?
If your business is successful, you will be generating taxable income for yourself as well as those employed by your new business.
For More Information: www.GetFunding.com
