A franchise resale can be a great opportunity for anybody in the market looking to own a business – a franchise is a much safer option than establishing a business from scratch. Not only is it more viable with the current economic situation, with a franchise resale you will be
provided with training from the franchisor, enabling you to grow a business that already has the foundations.
Below, you’ll find the steps that will support you in finding the perfect franchise resales:
Before choosing a franchise, you should define your goals and evaluate yourself. You should have a good idea of what you really want to achieve by owning a business. What hours would you like to work? What sort of things are you good at? What can you afford to invest? Asking yourself these questions will enable you to find options that are a good match.
Before you find a business, you will need to consider your financing option. It will be useful for you to know how much money will be available to you before you find a business opportunity you want to take advantage of. If you have an idea of your budget, you can look at businesses within your price range.
If you are planning on utilising finance to buy – you will need to have explored your options before entering legal discussions. We can assist you with this, we have contacts and relationships in the finance sector and can signpost you to the relevant organisation’s.
The franchise industry has a reputation for being able to withstand a recession. When looking for a viable business opportunity, looking for options that are recession-resistant is a good place to start. There are many businesses that will continue to do well regardless of the state of the economy. You should consider what products or services people always need.
Once you have explored all of your franchise resale opportunities, create a shortlist – we will help you to explore your options and identify businesses that suit your needs and goals in order to help you to make your decision. You can work with us at Franchise Resales to simplify the process and find the ideal franchise resale for yourself and your family!
Now you have an idea of a few businesses that you may pursue, it’s time to research the franchise and find out more information about the franchisor and their values. You should research their business success, franchisees as well as their fees and legal documents. Does it still meet your desired criteria?
If you answer ‘yes’ to the above – it’s time for you to visit the franchisor. You can ask any questions you have, find out about the franchise as a whole and meet people who will become your network. This is the final judgement time; pay attention to whether you are comfortable and happy with the franchise.
When speaking to existing franchises, ask questions! What are their lives like as franchisees? What is their average day like? What support do they receive? Are the startup cost projections realistic? How effective are the provided marketing materials? Make sure you gain a good understanding of what your life would be like as a franchisee in that network.
By now you should have all of the information you need to make an informed decision. To recap, your choice should match your financial resources, provide the right kind of lifestyle, use your skills and experience, be recession-resistant, and have lots of happy and successful franchisees.
What are you waiting for? Get in touch with Franchise Resales today on 01522 246811 and find your perfect business.