Are you a franchisor who is worried about resales in your network?

By Michael Bohan, Managing Director, Franchise Resales

Resales can be a g reat thing for both you and your franchisees In fact, by including exit planning in your franchising process, you are setting yourself up for long-ter m success

As a franchisor, your responsibility doesn’t end once a franchisee signs on the dotted line You need to continue nur turing your network and encouraging g rowth for as long as possible One way to do that is by including exit planning in your franchising process

When a franchisor provides exit planning strategies, franchisees have all the infor mation they need to achieve the best price when it comes time to sell or retire from the business This ensures a smooth exit from your network, keeping ever yone happy

But the benef its of resales go beyond just a smooth exit for franchisees When a franchisee decides to sell, it provides you with an oppor tunity to bring in a new and enthusiastic business owner who will continue to g row the business and your brand This incoming franchisee can bring fresh ideas, a new perspective, and potentially added value to your network

But how do you ensure that you are choosing the right candidate to purchase a business in your network? When your franchisees choose to sell with Franchise Resales, we make sure we understand what you are looking for in a franchisee This ensures that the incoming franchisee is a good f it for your network and has the potential to continue g rowing the business

Exit planning can also help your franchisees achieve the best possible price for their business When exit planning strategies are provided, your network will be able to think about what is impor tant for them in the process of building their business This knowledge will help them achieve a g reat retur n on their investment.

Once all ter ritories in your network are sold, it’s a huge sign of a successful franchise But it can also help to increase the demand for a resale – when they come along Mature brands on average have 10 per cent of their network for sale each year This means that resales can become a regular occur rence, which is why it’s impor tant to have exit planning strategies in place

So, don’t fear resales in your network By giving your franchisees a helping hand with their exit planning, you are assisting their success and their smooth depar ture from the network And who knows, the purchaser of their business might just be the perfect f it to take your network to the next level

At Franchise Resales, we offer free exit planning seminars to help your franchisees prepare for their future exit

About the author

from the business These bespoke seminars are tailored to your franchise network and provide your franchisees with the knowledge and skills they need to create a successful exit plan

An exit plan is more than just a plan for the end, it’s a plan for the jour ney In order to be successful, your franchisees must f irst reach the milestones that are set out in their plan

Our exit planning seminars cover a range of topics, including:

● Understanding the process of selling a business.

● Deter mining the value of your business.

● Preparing your business for sale

● Identifying potential buyers

● Negotiating a sale

But our suppor t doesn’t end there We continue to work with your franchisees throughout their jour ney, providing ongoing guidance and suppor t We understand that selling a business can be a stressful and emotional time, which is why we are here to make the process as smooth as possible n

Michael Bohan is a seasoned professional in the franchising sector, having worked in the industr y since 2010 He star ted his career as a recruitment consultant for a local franchise operation in Lincoln and quickly developed a passion for franchising

Bohan has gained extensive experience in various aspects of the industr y, including franchise resales, exit strategies and business development Today, Bohan is the Managing Director of Franchise Resales, a UK-based company that specialises in helping franchisees sell their businesses In this role, he has been instrumental in modernising the company’s operations through the development of a new CRM system and website michaelb@franchiseresales.co.uk www.franchiseresales.co.uk