A FRANCHISE RESALE STORY
A MESSAGE FROM THE FOUNDER ON FRANCHISE RESALES
However, as is eventually the case for every business owner, it became time for me to move on. I was ready to realize the second half of the American Dream by selling my franchise business. I had accomplished most of what I had set out to accomplish in that business, and I was eager to pursue new endeavors. It was time to sell my franchise and cash out.
Much to my surprise, I quickly learned that there was no clear path for accomplishing this. How could this be? I was the successful owner of a well-known national franchise brand, and there was no marketplace dedicated to selling an existing franchise operation!
There were a few options I could consider, but none were the right fit for what I needed as the seller of an existing franchise business.
- Was I to find and pay a random business broker who may not know much about franchise businesses, just sit back, and hope he or she could sell it?
- Was I to list my franchise for sale on obscure business listing websites hidden between thousands of liquor stores, gas stations, and other no name businesses?
- Would I commission and trust my corporate franchise sales team at our franchisor headquarters to sell it when their primary focus and expertise is to sell and open NEW territories?
While these options may be suitable for some situations, for me they lacked:
- franchise specific knowledge and resources
- a genuine focus on my needs and my business
- the desired financial outcome – requiring me to give up a big piece of my pie when sold!
None of the options specialized in franchise resales and none were passionate to sell my franchise business…the business that I poured my blood, sweat, and tears into for over a decade. I was beyond discouraged!
Nonetheless, I had no choice but to work with these imperfect options. Thankfully, after I walked through the marketing and sales process, patiently considering and trying each of these different paths, I was ultimately successful in selling my franchise units over a variety of transactions, over several years, to multiple buyers, and in some cases at a fairly high cost.
After these difficult sales, and after helping successfully facilitate several franchise resale transactions between franchisees in my network, other franchise owners began coming to me for help in selling their franchise. They, too, had quickly discovered there wasn’t a great avenue for buying or selling existing franchises.
“Successful franchise resales are also the mark of a truly sound and desirable franchise brand that buyers want to pursue.”
Time after time I explained to franchise owners the limited options available. I talked through the challenges of each, provided suggestions as to how to sell on their own, and provided a few websites they could bury their business on. Although I knew that each option lacked the experience, value, and focus that are required for selling an existing franchise operation, I shared my belief that their best bet was to stir the pot with as many options as they could find and afford, even though there was no ideal option dedicated to franchise resales.
Eventually, after fully understanding and embracing my passion for the franchise industry and for helping franchise owners to realize their full potential and value, I concluded there had to be a better way for franchisees to successfully buy or sell an existing franchise operation.
I believe that most franchise brands have a value and reputation that most independent businesses do not share. In fact, I believe that the ability to realize this value through a profitable franchise resale is the capstone of a successful venture in being a franchise owner. It is the full realization of the American Dream…the second half of the American Dream. Successful franchise resales are also the mark of a truly sound and desirable franchise brand that buyers want to pursue.
So, it was time to create the world’s premier franchise resale marketplace exclusively dedicated to helping others buy and sell existing franchise operations. Thus, Franchise Flippers was born. Our purpose, expertise, and passion is in helping others be successful in franchise resales so that buyers and sellers can win together!
Find or sell your franchise at franchiseflippers.com.