1851

If you’re a franchise owner who’s looking for ways to sell your business, you may be overwhelmed with where to start. It can be a difficult and tedious process. But if you follow these steps, you can be well on your way to selling your franchise and moving on to the next venture in your life.<h3>Contact the Franchisor</h3>The first step in selling your franchise is to go directly to your franchisor. They may already have ideas for potential buyers to take over your franchise, which can expedite the process compared to going at it alone. Not only that, but franchisors have valuable industry knowledge that they can pass on to you in regard to the selling process.&nbsp;Regardless of the support provided, it is essential to inform the franchisor of your intention to sell as soon as possible. Additionally, many franchise agreements contain strict rules and limits regarding how franchisees can sell their franchises, making it paramount to talk to your brand before selling.&nbsp;<h3>Position To Sell</h3>To put yourself in the best position to sell, you should make it as easy as possible to step down from ownership. This means that you should have all your ducks in a row, starting with an evaluation of the status of your business. Start by determining the most accurate value of your franchise through thorough examination of your finances, evaluation of your customer base and where your growth potential stands. This will allow you to set the most realistic asking price.&nbsp;Another key component of the preparation process is making your business as attractive as possible. This not only means cleaning up the physical appearance of your franchise but making sure the back of the house is in tip-top shape. Organize your financial records, tax returns and balance sheets, and make sure everything is up to date so the buyer can go in with confidence.&nbsp;<h3>Market Your Franchise</h3>When you’re ready for the sale, it's time to find a buyer. Marketing your franchise effectively will be important in making sure prospective buyers can see your opportunity. Start by creating a comprehensive marketing strategy that includes print marketing, social media and industry-specific websites. You should also put together a sales package that showcases your franchise’s history, key selling points, financial performance and potential for growth.&nbsp;<h3>Work With a Broker</h3>This step is optional, but working with a franchise broker can help get the process going faster.&nbsp;Brokers have access to a wide network of interested buyers in your market and can help with negotiations and paperwork.&nbsp;<h3>Negotiate and Finalize the Deal</h3>Have an interested buyer? It's time to negotiate. Use the selling points you created earlier in determining the accurate value of your franchise to come up with a fair selling price. Once that’s done, it’s time to get an agreement in place and sell your franchise.&nbsp;Finalizing the deal includes officially transferring your ownership rights, finishing any outstanding legal documents and completing all obligations on your end. Now you can officially enjoy the next step in your journey!&nbsp;

A Guide To Selling Your Franchise in 5 Steps

How to Sell Your Franchise in 5 Steps

1851 Franchise

By following these steps, you’ll be on your way to finding potential buyers for your business and closing a deal in no time. 

a-guide-to-selling-your-franchise-in-5-steps

Jollibee

How Jollibee Is Disrupting the QSR Franchise Industry 

how-jollibee-is-disrupting-the-qsr-industry

USA Ninja Challenge

How This Franchise Consultant Helps Entrepreneurs Find Purpose With the USA Ninja Challenge Franchise

how-this-franchise-consultant-helps-entrepreneurs-find-purpose-with-the-usa-ninja-challenge-franchise

Busy Bee Jumpers

Bouncing Into Business: Meet Kayla and Jason Leonard, Busy Bee Jumpers’ New Franchisees 

Bouncing Into Business: Meet Kayla and Jason Leonard, Busy Bee Jumpers’ New Franchisees in Rhode Island

bouncing-into-business-meet-kayla-and-jason-leonard-busy-bee-jumpers-new-franchisees-in-rhode-island

Woodhouse Spas

Photo of exterior of Woodhouse Spa location

How Woodhouse Spas Leverages Learning Management Systems

woodhouse-spa-franchise-training-lms

Image Studios

image of studios salon suites stylists business owners

Finding Freedom: Why Beauty and Wellness Professionals Build Their Dream Careers With IMAGE Studios

benefits-image-studios-salon-suites

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Jeni’s Splendid Ice Creams Begins Franchising To Grow Its Fellowship Model

jenis-splendid-ice-creams-begins-franchising-to-grow-its-fellowship-model

Design with American and Federal Reserve flags against light blue background

Federal Reserve Expected To Cut Rates by Quarter Point, a Move That Could Boost Franchise Growth

fed-rate-cut-boosts-franchise-growth

Potbelly to be Acquired by RaceTrac in $566 Million Deal 

racetrac-acquires-potbelly-in-566-million-deal

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities - 1851 Franchise Agg

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities 

health-care-hiring-slowdown-in-home-care-franchise-opportunities

Caribou Coffee Names Scott Kennedy CEO, Eyes Continued Growth

caribou-coffee-names-scott-kennedy-ceo-eyes-continued-growth

Power Eats: Smoothie King Rolls Out Food Nationwide To Fuel Franchise Growth

smoothie-king-food-menu-power-eats

Hely and Hiral Patel Bring Their Longtime Dream to Life With The Brass Tap

brass-tap-franchise-pasadena-maryland-hely-hiral-patel

1851 Keyword - The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

part-time-franchises-picking-the-right-model

Franchisee spotlight graphic with photo of Ricki Oberoi and Layne's Chicken Fingers logo

A Guide To Selling Your Franchise in 5 Steps

MORE STORIES LIKE THIS