There’s no doubt about it- reselling a franchise is tougher than it first appears. You might well have a stellar business plan and plenty of resources to pass on to your buyer, but just how do you go about finding them in the first place? Unlike selling a conventional business, the market for reselling a franchise is smaller, because many people do not always want to have to pass on a portion of their takings to the franchisor.
Selling a franchise also comes with some extra complications because it’s not technically your business that you are selling. You’ll need full cooperation from your franchisor in order to close a deal, and you’ll have to convince them that your buyer is up to the job. If you neglect this crucial point, then you could find that the deal falls through at the last minute, and you will then have to start right back at the beginning again.
What’s more, while you’re looking to resell your franchise, you will have to carry on running the business in the meantime. Naturally, that takes up a lot of time, and you might find yourself too exhausted to even contemplate hunting down a new buyer. In order to resell your franchise for the best price, you need to have it up and running at full capacity, so how will you find the time to conduct the selling process yourself?.
As you can see, reselling a franchise can be an extremely stressful process, especially when you just want out. You will need to assess whether you have the time to run your business as well as searching for the right person to buy your franchise. If you decide to outsource the sale of your franchise you will get help through each part of the selling process. From getting an independent valuation to getting the ball rolling, to exit planning and due diligence, as well as getting the franchisor’s approval of the buyer. An external partner will aim to achieve the best deal for both sides, so that you get a fair price for your franchise and make a smooth exit from the business, and your buyer gets a franchise that’s already on a firm footing.
So, if it’s time for you to move on from your franchise to pastures new, We are here to help. With an extensive network of contacts, we make the reselling process as quick as possible. No one else in the UK offers the same level of service that we do, so you can be sure you’re making the right choice when you come to us. With connections to expert solicitors to oversee everything, we can help the whole process to run smoothly and efficiently. Don’t give yourself the extra stress of having to find a buyer yourself- thanks to Franchise Resales, you can focus on your future instead.