Are you considering reselling a franchise? Franchise businesses rank among the top leading business opportunities, but there comes a time in every owner’s career when selling is the right decision. At Atlantic Business Brokerage, we often work with locally owned establishments, but we also specialize in the sale and purchase of franchised businesses throughout the U.S. Before you exit the company, be sure to check out our guide on how to resell a franchised business with ease.
Consult Franchise Agreement
If you’re thinking about selling we have some good news for you- recent findings from the International Business Brokers Association state that we’re in a selling’s market, and it is currently a great time for owners who are ready to exit their company. However, before making any big decisions, it’s important to review your franchise agreement thoroughly. Many franchisors will layout specific parameters for franchisees ready to sell their business, and some may even offer help with the selling process. You should also make a note of any transfer fees or training for the new owner once you sell it. Selling any business has challenges for owners, but reselling a franchise comes with a few more obstacles to overcome.
After reviewing the franchise agreement documents, it’s time to contact your franchisor to alert them of your exit plans as soon as possible. As you meet with them, be sure to ask questions relating to assistance with selling your business, what qualifications the prospective buyer, and how your franchise location is valued.
Call A Business Broker
These questions are a good start for beginning the selling process, but a business broker will help provide even more guidance and help to sell your franchise. Atlantic Business Brokerage has extensive experience in helping franchise sellers (and buyers) navigate any given franchisor’s requirements. While it’s not an obligation to have the help of a business broker to sell your franchised business, it certainly doesn’t hurt. You can sell on your own if you know what your franchise is worth, locate qualified buyers who meet with franchisor approval, obtain a sale price you’d like to achieve, and are prepared to navigate all the hurdles involved with selling a business and transferring a franchise. However, since this is very complicated to do on your own, hiring a business broker such as Atlantic Business Brokerage is a great decision when reselling your franchised business.
Sell With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match.