Written by Efranchisesale Staff Saturday, 02 October 2010 14:54
When the time comes to move on and do something different, many successful business owners are scared of selling franchises. They may be afraid of having their business sit on the market too long, or being unable to sell it at a fair price, but there are ways of marketing franchises that will draw in the most qualified buyers.
Sooner or later, everyone who owns a franchise must deal with selling a franchise. The question is how do you do it quickly and make the most profit possible from the transaction?
- When advertising franchises for sale, it is important to reach the right audience. More and more, franchises are being sold in online directories that focus on “for sale by owner” businesses.
- Marketing franchises the right way will ensure that the business owner doesn’t become frustrated and end up selling the franchise at a price less than what it’s worth
- If you plan on selling a franchise, make sure you keep the franchisor informed from the very beginning, as there may be rules that regulate the sale of a franchise. They may also have rules about advertising franchises that are for sale and some franchisors will require more upfront preparation than others
- Be sure you reread the franchise agreement for information pertaining to selling franchises, and make sure you are fully prepared before you begin the sales process.
- In addition, before advertising franchises for sale, most franchisees put together a sales packet that includes key financial information and the history of the business.
Your business may be the best deal in town, but unless the right buyers are aware of it, it could take awhile to make the sale. Advertising franchises is easy as long as you are reaching the right audience.