Iannuzzi and the Members of the IFA Supplier Forum Advisory Board Will Work to Connect Suppliers in the Industry
Michael Iannuzzi has been elected to the International Franchise Association’s (IFA) Supplier Forum Advisory Board, which has the goal of connecting suppliers who can grow the industry and provide support to the franchising community and to the IFA. Iannuzzi is a partner and franchising practice co-leader at Citrin Cooperman, a professional services firm that has a practice area that specializes in franchising.
The Supplier Forum Advisory Board
Iannuzzi believes that the IFA’s Supplier Forum Advisory Board will have a positive impact on the franchise industry. “I think the Board’s goals are to assist the IFA with their mission to protect, enhance and promote franchising. The Board will provide avenues for networking and education that will continue to improve the overall franchise world,” he said.
Throughout his career, Iannuzzi has worked with and advised franchisors and multi-unit franchisees of different sizes and industries on a number of matters. These include financial statement audits, tax return preparation, franchise performance representations, franchisee unit matrix, advertising fund structure, corporate restructuring, and more. Some industries he has worked in include fitness and athletic centers, children’s entertainment services, junk removal, and pet hotels.
“Franchising has played an instrumental role in my career, and I am very fortunate to have had the opportunity to get involved in this industry very early on. I welcome the chance to give back to the community that has helped me so much by assisting the IFA with their mission,” Iannuzzi said.
At Citrin Cooperman, some of Iannuzzi’s primary responsibilities are to grow the franchise practice, consult with our franchise clients and work with internal franchise committee members on best practices, industry updates and overall client service. By following his motto of “what may be right today may not be right tomorrow,” Iannuzzi guides his clients into thinking about the future.
His franchise consulting and advisory services focus on corporate structure and formation, domestic and international strategic planning, tax strategies, cash flow/budgeting, and long-term profitability analysis.
Iannuzzi has been a panel speaker for the Manhattan Chamber of Commerce and a guest panelist for the Philadelphia Franchise Association. He has also been a roundtable facilitator at multiple IFA Annual Conventions.
Advice From a Franchise Accountant
Iannuzzi can’t overstate how important it is for franchisors and multi-unit franchisees to have an attorney and an accountant that specializes in franchising. “The way I see it is franchising has its own set of legal and financial reporting requirements that could be tough to navigate if you aren’t familiar with the space,” Iannuzzi said.
As a franchise accountant, he knows that lawyers and accountants who focus on franchising understand the industry’s best practices, are most likely members of the IFA, attend franchise events and have resources within the franchise community to assist their clients from an overall franchise perspective. “Do you want to work with a specialist who knows the lingo, rules, laws and regulations? Or do you want to teach the professionals you work with what franchising is and how it works?” he asked.