You may be wondering what is a franchise resale? And how is it done. If you are confused about this or this is a query you have about franchising don’t worry. Since today we will be covering all about franchise resales. And how they work and also how they can be a good business decision for budget building.
You may think when you buy a franchise that its going to be you as the franchise owner for ever but that is not the case sometimes. Because times change say you are looking to retire you would want to sell your franchise. To save up more money so you have a relaxing and stable retirement lifestyle.
Now you may be asking what is the definition of a franchise resale?
- A Franchise resale is where the franchisee “Person who bought the franchise territory” is advertising it for purchase and has agreed with the franchisor “The person who owns the business” to perform a resale of the franchise location.
Now you may be wondering how do I get the rights to perform a franchise resale?
Its rather simple to do this you just need to get in to contact with the business owner / franchisor who sold you the franchise to give you the rights to sell the location in some kind of agreement or contract that can hold up legally to prove you have the rights to sell the territory.
How do I advertise a franchise resale?
The most effective way to advertise your franchise resale opportunity these days is to use a website called a franchise directory. You may be asking now what is a franchise directory?
The definition of a franchise directory:
- A Franchise directory is a website full of franchise territories ready for purchase for franchisee’s and they also provide services for franchisee’s looking to sell their franchise locations.
How much money does it cost to advertise on a franchise directory?
This all comes down to which one you choose. Since the directories who have less search engine visibility are cheaper but they generate less recruitment leads. I would personally suggest a directory called “Franchise UK”. Since for just £950 + VAT you get a 12 months premium listing. Which is the cheapest cost per lead and at a price of just £79 a month. Which is a amazing price point and beats many competitors pricing in the lead generation industry.
What are leads?
If you have already bought a franchise you will know what a “lead” is and what it means but for all the new people to franchising here.
The definition of a lead in franchising
- A Lead is where someone fills out a form when they are interested in your franchise opportunity online and may be wanting to buy your franchise territory.
Thanks for reading!
Thanks for reading. Hopefully this article has answered any questions you may have had about franchise resales and what a franchise resales is. Also if you have learned anything new from this post or are even new to franchising in the UK I highly recommend you read our articles regularly. Since we share free advice to help anyone thrive in the franchising market in the UK.
Sources : Franchise Association