So you want to sell your franchise? Maybe you have a firm reason, or perhaps it is simply time for a change. Regardless, online portals have become crucial in the resale of franchises, no matter the industry. The internet has become the leading place people go to first for finding new opportunities, and you want to be sure potential buyers view your listing.
A variety of different reasons may make someone want to sell their franchise. One of the first things a potential buyer will ask is, “Why are you selling your franchise?” Being prepared with a solid answer will save you from freezing on the spot. You want to phrase your response attractively, helping the buyer know where the business is now and how the business can be grown in the future.
Everyone will retire one day. Maybe it is your time to retire.
You enjoy the excitement of building and flipping businesses. However, you don’t really enjoy the day-to-day operational aspects.
The industry may be trending in a direction you don’t like. Think of Blockbuster. When streaming became popular, the industry did not last long.
You loved the idea of the franchise but now realize that the day-to-day requirements don’t really fit with your skill and/or lifestyle requirements.
It’s time for a change. Maybe you simply have other opportunities that are more exciting to you right now.
Creating a solid rationale and understanding why you are selling can make your sale more appealing.
In preparation for advertising your franchise for resale online, there are a few steps you should take to prepare for the sale.
A sales package should describe what you do, the franchise you are involved with, the size and scope of the franchise system, territory, customers, lease terms, demographics, and business growth. Then, you should also include what the franchise is selling, the cost of the business, and how your franchise creates value. If you choose to advertise on Franchise Resales, you will be able to upload your sales package to attract potential buyers.
Historically, franchisors have not been involved much with the resale of franchises. However, the strongest franchise systems have realized that offering resale support to their franchisees is in everyone’s best interest. Your franchisor can help you create a sales package, vet buyers, check skill sets, and determine your business value. Franchisors can sometimes advertise your resale as well. At Franchise Resales, we work with many franchisors who do this. Ask your franchisor about advertising with us.
Speak with other franchisees because they may be interested, or know someone who is interested, in your business.
Selling your franchise works best with planning. Ideally, you would decide about 24 months in advance in order to get your financials in order. Speaking with your CPA can help you maximize your perception of earnings. You should also avoid selling during a negative growth curve because your franchise is less valuable at this time.
You want to advertise the sale of your franchise on as many online portals as you can to ensure the right buyer finds your listing.
At Franchise Resales, our website is unique to the other platforms because it is exclusive to franchise listings. On other listing websites, you may have to compete with Bus Opps, MLM’s, Distributorships, New Franchises, and other forms of advertising. We only sell existing franchise businesses allowing the buyer to be more focused on finding the right franchise resale opportunity.
There is a simple two-step process to advertising with Franchise Resales. First, you click ‘Register’ and set up your account. Then, you can access your dashboard. Simply click “Sell Your Franchise.” From there, you can input all your information, and your listing will be automatically generated. Of course, if you don’t like what you see, you can edit your listing at any time. Finally, if you have multiple franchises to sell, we offer discounted bulk listing packages.
Unfortunately, other sites harvest leads and can resell them to other parties. We NEVER do this. All your leads go directly to you. We don’t even see them.
Our environment is optimized specifically for franchises, and it is in our best interest to help you find the most suitable buyer. We look forward to helping you find a great buyer.
If you are the best person to sell your franchise business, then let us help you.