Franchise for Sale

Franchise for Sale

Franchise owners today have a number of options when deciding how they would like to market and advertise their business franchise for sale. This includes going the "for sale by owner" route which has advantages and disadvantages. The biggest disadvantage being the potential loss of confidentiality and the possible negative effects it may have on the business and its chances of selling. The biggest advantage of a "for sale by owner" transaction is the owner obviously is not responsible for paying a commission to a Business or franchise Broker.

The most common option franchise owners choose when selling a franchise is to hire a professional business or franchise broker to handle the sale. Most brokers are only paid a commission after the sale is completed, so there is usually no upfront expenses. They are also familiar with their local market and buyer demands, and can help maintain confidentiality as well as prepare and price a business for sale so that it has a good chance of attracting a qualified buyer.

As far as advertising, most brokers also employ a number of local and national "business for sale" web sites that can give a listing maximum & confidential exposure to prospective buyers. They also commonly work (or co-broke) with other professional brokers in their area that might have a prospective buyer for your business.

If you're planning on putting your franchise up for sale, it's important to let your franchisor know. Most franchisor's have explicit rules regarding the transfer of franchise unit to new ownership including buyer qualifications, disclosures, transfer fees, etc. So make sure you read your franchise agreement thoroughly. Most franchisor's can also be very helpful in the consummation of the resale and may even have a prospective buyer on file who has expressed an interest in your specific location or territory.

Jeffrey Sloe, Internet Marketing Advisor to The Ultimate Team
440-725-3729
jeff@internetmarketingadvisors.net
http://ultimate.org
http://afranchisesolution.net/2008/07/franchises-for-sale/