How to create a fantastic listing when you need to sell your franchise fast
Where you list your franchise for sale and how the information is presented can have a tremendous impact on the speed at which your franchise will sell. If you need to sell your franchise quickly, you will generate the most inquiries from potential buyers by following these 3 key tips about our franchise listing marketplace:
- List your franchise now
- Stand out from the crowd
- Create an engaging listing
List it now – Buyers won’t wait
Opportunity is knocking. Potential franchise buyers are scouring the internet every day for the right opportunity and the perfect fit for their new business. Each day that passes without your franchise listed for buyers to see is an opportunity lost.
If you need to sell your franchise within the next 6-12 months, or sooner, the best thing you can do is list your existing franchise for sale now. Don’t wait for the perfect moment or for all your ducks to be aligned, selling your franchise fast is only possible if it is on the market. .
There is no shortage of good businesses for sale. To sell your franchise quickly, you need to do more than just post an online listing on a generic business for sale site where you will be lost among tens of thousands of other businesses.
Fortunately, you are a franchise owner. Marketed well, your business can stand out in the crowd because of the brand, system, and credibility associated with a franchise.
To capitalize on this advantage, list your franchise for sale on a specialized franchise listing marketplace that removes the masses of unbranded non-franchised businesses for sale. Further, be sure to list your franchise for sale in an environment that does not compete with you by featuring new territories offered by franchisors. When it comes to deciding where to list your franchise resale, be a bigger fish in a smaller pond and attract focused buyers looking for existing franchises.
Create an engaging listing
Standing out from the crowd also requires the creation of an online listing that buyers find attractive and intriguing. The information you provide in your online listing, wherever you choose to list it, is absolutely critical in boosting the interest of buyers so that they will want to “knock on your door” to learn more.
The good news is setting up a great franchise resale listing can be done in 10-15 minutes on our franchise listing marketplace. It doesn’t require hours of gathering information beforehand. Follow our practical tips outlined below, and you will quickly have the perfect online listing that will grab the attention of potential buyers:
- Provide your franchise brand and logo or a related picture at the top of your listing. Certain items may need to remain confidential but being up front about important information like the name of the franchise helps establish credibility and clarity in the eyes of buyers. Providing the logo also makes your franchise listing more visually appealing. If you don’t have a truly compelling reason to hide your franchise for sale, provide the name and logo in your listing. The less the vague you are, the more interest you’ll get.
- Provide multiple photos in your listing. Photos help buyers visualize your franchise and identify with it personally. Include photos from inside and outside the business. Show a calm but active environment with smiling employees and/or customers. Outdoor pictures should be taken on a sunny day and show the storefront and even the surrounding area if you are in a shopping center or office park. It is also helpful to provide photos of equipment or other assets that might be of importance to a buyer. Tip: Quality cell phone photos are perfectly acceptable. Horizontal photos usually look the best.
- Offer meaningful operational and financial data that will be helpful for a buyer to understand the basic ins and outs of your business such as the number of employees, approximate value of assets and inventory, lease & rent information, and how long you have been in the franchise. If you want buyers to really give your franchise strong consideration, provide more than just the revenue, profit, and asking price that every listing provides.
- Offer transition support in your franchise resale listing so prospective buyers know you are eager to get a deal done and are willing to help ensure a smooth transition.
- Describe your role in the business and your time commitment so potential buyers can better imagine themselves in your shoes. If there is flexibility in the type of role or in the degree of involvement for the new franchise owner, be sure to communicate this in your franchise listing. Be transparent about your involvement and be sure to focus on the positives of your role.
- Share achievements and awards for which you and/or your franchisor have been recognized. Franchise rankings, growth statistics, industry recognition, and any individual franchisee awards should be mentioned in your listing.
- Indicate if you would be willing to consider providing seller financing on a portion of the deal to the right buyer. You don’t have to commit to or promise anything in your franchise resale listing, but if you would consider providing some degree of seller financing to a good buyer make sure you communicate it in your listing. If you need to sell your franchise fast, it is highly recommended that you offer some seller financing.
- Provide a credible and honest reason for selling your existing franchise. Franchise resale buyers are always interested in knowing why sellers are exiting their business. Even if your personal circumstances are difficult, keep a positive spin on it and share why you are selling your franchise. Remember, your buyer may love your business as much as you did when you started it.
- Highlight what you love about your business and your franchisor. A good franchise for sale listing will provide a place for you to do this. Think about things like the training, systems, tools, support, relationships, etc. that your franchisor excels in. Share this in your franchise listing profile. It may be helpful to think about why you initially bought your franchise and remember what excited you early on in the business. These things are also likely to be attractive to other buyers on our franchise listing marketplace.
- Highlight what your customers love about your business. Certain elements in your business less significant to you may be extremely valuable to others, especially if it relates to your customers. Buyers want to know what your customers like about your product or service and what makes it unique.
- Describe specific or unique opportunities for growth and improvement in the business. Most franchise resale buyers have aspirations and expectations to grow the business they buy. A good franchise resale listing will communicate what these opportunities are.
- Share your franchise listing on social media and in email blasts to maximize exposure. A good franchise listing site like Franchise Flippers will offer to do this for you, helping you to get more of the right people looking at your franchise for sale.
- Upgrade your listing to include a featured display ad or promotion to the top of the listing pages. Featured displays and priority listings can help your profile get more looks.
- Keep the listing fresh. Periodically add new info, update pictures, and improve content. Your listing profile doesn’t have to be perfect, but don’t be afraid to continually add to it and improve it.
The key to selling your existing franchise fast is to get it listed, make it stand out, and engage buyers. If you don’t have all the information readily available to complete a full listing profile, list it now with what you do have available, and then update the rest later. The worst thing you can do is wait.
Let Franchise Flippers help you sell your franchisee. Visit us at www.franchiseflippers.com