So, you've decided, for whatever reason, you'd like to sell your business. Prior to sticking up the ‘for sale’ sign, there are lots of things you can put in place to ensure the sale goes through smoothly.
The famous saying ‘if you fail to prepare, prepare to fail’ could not be more relevant here. Proper preparation will affect the achievable sales price and the ease at which a potential buyer will be able to raise the necessary capital.
Purchasing a resale franchise can have some great advantages over starting a new business from scratch, but there are also some pitfalls to avoid. Resale franchise units may consist of successful operations that are making money as well as units that are either losing money or barely making ends meet.
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When looking to buy an existing franchise, there are two types of businesses for sale - those businesses which are successful and those which are underperforming. However, whilst a performing franchise will bring with it many benefits, and probably a hefty selling price, you shouldn't be quick to rule out a franchise that isn't successful or losing money
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Purchasing a franchise resale can have some great advantages over starting a new business from scratch, but there are also some pitfalls to avoid. You need to carefully evaluate why it is for sale, the business performance, local market, resale costings as well as evaluating yourself.
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It’s sensible for franchisees to plan for exiting the business at a time that suits their personal or commercial goals. However, many franchise owners and operators fail to fully consider the range of options available or engage early enough with their advisors. So, what are the options for exiting your franchise business?
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Franchising can be a very complex area and to make sure you find the right franchise for you, or set up your own franchise correctly, is it imperative that you do as much research as possible. This includes seeking professional help and advice. Our Ask the Expert section allows you to post questions regarding funding a franchise, legal issues, accountancy, consultancy and general franchise advice.
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We are pleased to announce the completion of another internal resale that sees Centre Manager, Peter Tubb take ownership of the Signs Express (Slough) franchise. Peter has been with Signs Express (Slough) since 2020, working alongside the previous franchisee’s family, before taking on the day-to-day responsibilities a year later, operating the centre and maintaining its strong brand presence and reputation in the territory.
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Barbara Frater and Caroline Bradshaw have recently made the change from senior teaching roles to their “dream job” as a Barking Mad franchisee. They bought an established Barking Mad franchise in Alnwick and haven’t looked back.
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Trading for over 15 years, Signs Express (Huddersfield) presents a new owner with an established, well-respected business, with a loyal customer base, thriving territory and an impressive client portfolio, with the opportunity to achieve £400k+ turnover in the next 24-month period. We caught up with current centre owner Martin Davis about the benefits of buying a resale business and what you can expect from your investment.
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Due to pending planned retirement a well-established WPA Healthcare insurance franchise is now for sale in the Bromley area. The current Healthcare Partner has been operating the business from home for the past nine years and now wishes to sell the business to a customer orientated person.
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