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When Is It Time To Sell Your Franchised Business?

Guest post by: Anne Barr

Article Overview: This article discusses how Franchisors are starting programs to assist current franchisees to sell their existing businesses.

When Is It Time To Sell Your Franchised Business?

Franchisors seem to focus on selling new units to increase royalties and expand the brand. However, in today’s marketplace this becomes increasingly more difficult because of financing challenges for potential franchisees; slower decision making in this uncertain economy; possibly less excitement in validation from current owners in the system who are fighting through tough times and sometimes changing the way they do business.

Many Franchisors are now focusing on assisting franchisees who might otherwise have closed to consider selling their existing unit, especially if they realize selling their unit is an option.

Most Franchisors have no formal resale program in place to assist franchisees in selling their business. As a result, too many close when they could have sold to new franchisees with enthusiasm and excitement of obtaining a partially ramped up unit or maybe even a unit that is past the ramp up stage.

Selling the existing unit is a win/win for everyone; the franchisee who sold, the new franchisee, and the franchisor - who has eliminated a bad validator, didn’t lose a unit and assisted the new franchisee to more easily find financing with the business track record.

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Article Tags: franchise resales, selling a buriness



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