{"id":43872,"date":"2023-05-09T08:26:59","date_gmt":"2023-05-09T12:26:59","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=43872"},"modified":"2024-12-18T09:49:22","modified_gmt":"2024-12-18T14:49:22","slug":"franchise-to-sell","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/franchise-to-sell","title":{"rendered":"Build A Franchise You Can Sell For A Nice Profit"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-620x414.jpg\" alt=\"sell your franchise for big profit\" class=\"wp-image-43879\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-620x414.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-768x512.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-370x247.jpg 370w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-270x180.jpg 270w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-570x380.jpg 570w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business-740x494.jpg 740w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business.jpg 1000w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n\n<p>This post is about getting to a place in which you can <strong>sell your franchise<\/strong>. <\/p>\n\n\n\n<p>&#8220;<em>Wait. I haven&#8217;t even bought a franchise yet, Joel<\/em>.&#8221;<\/p>\n\n\n\n<p>That&#8217;s okay. <\/p>\n\n\n\n<p>But you need to have an exit strategy.  <\/p>\n\n\n\n<p>And not when <a href=\"https:\/\/www.thefranchiseking.com\/the-5-best-reasons-for-buying-a-franchise-business\">your franchise business<\/a> has been up and running for a while, but now. <strong>Before<\/strong> you write a check to the franchisor. Why?<\/p>\n\n\n\n<p>So you have a specific long-term goal firmly attached to a neuron or something in your brain. So you&#8217;re always thinking about it. <\/p>\n\n\n\n<p>Why?<\/p>\n\n\n\n<p>Profit.<\/p>\n\n\n\n<p>Yours.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2>Franchise Purchasing<\/h2>\n\n\n\n<p>You&#8217;re purchasing a franchise so you can be your own boss. So you can be in more control of your life. And you&#8217;re excited about <a href=\"https:\/\/www.thefranchiseking.com\/new-home-services-franchise\">the possibilities<\/a>. <\/p>\n\n\n\n<p>And when you&#8217;re in the middle of the franchise buying process, you&#8217;re thinking of things like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Due diligence<\/li>\n\n\n\n<li>Financing<\/li>\n\n\n\n<li>The best location for your business<\/li>\n\n\n\n<li>How you&#8217;re going to find employees<\/li>\n\n\n\n<li><a href=\"https:\/\/pas.go2cloud.org\/aff_c?offer_id=2&amp;aff_id=1256&amp;url_id=111\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Your business plan<\/a><\/li>\n\n\n\n<li>Finding a franchise lawyer<\/li>\n<\/ul>\n\n\n\n<p>Along with how to keep your fear of making the wrong choice in a franchise at bay. <\/p>\n\n\n\n<p>Overall, it&#8217;s pretty normal stuff. Important stuff. <\/p>\n\n\n\n<p>Nevertheless, there&#8217;s something else that needs to be top of mind while you&#8217;re looking seriously at buying a franchise. <\/p>\n\n\n\n<p><strong>You need to think about selling your franchise business<\/strong>. <\/p>\n\n\n\n<p>That&#8217;s because you&#8217;ll have built equity in your business in the years* you&#8217;ve owned it. <\/p>\n\n\n\n<p>*Most franchise contracts are 10 years. <\/p>\n\n\n\n<p>Here is the definition of equity.<\/p>\n\n\n\n<p>&#8220;<em>Equity can be defined as the amount of money the owner of an asset would be paid after selling it and any debts associated with the asset were paid off. <\/em>&#8221; &#8211; Courtesy of<a href=\"https:\/\/www.td.com\/ca\/en\/investing\/direct-investing\/articles\/equity\" target=\"_blank\" rel=\"noreferrer noopener\"> TD.com<\/a><\/p>\n\n\n\n<p>In other words, what your franchise is valued at, minus anything your business owes. And that&#8217;s what you&#8217;ll be <a href=\"https:\/\/www.thefranchiseking.com\/sell-your-franchise-for-maximum-value\">selling your franchise<\/a> for. <\/p>\n\n\n\n<p> &#8220;<em>But, Joel. I have no idea what the franchise I buy is going to be worth 10 years from now<\/em>. &#8221; <\/p>\n\n\n\n<p>Guess what?<\/p>\n\n\n\n<p>I don&#8217;t know what it will be worth either.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2>Your Franchise Is Going To Have Value<\/h2>\n\n\n\n<p>If you buy the <em>right<\/em> type of franchise, it&#8217;s going to have value.<\/p>\n\n\n\n<p>&#8220;<em>What type is that, Joel<\/em>?&#8221;<\/p>\n\n\n\n<p>Wait for it. <\/p>\n\n\n\n<p>This is where my friend, John Warrillow, the author of &#8220;<em>Built To Sell<\/em>&#8221; comes in. Hi John!<\/p>\n\n\n\n<p>Here&#8217;s what John says about the type of business you need to own: <\/p>\n\n\n\n<p>&#8220;<em>Once your business can run without you, you&#8217;ll have a valuable, sellable asset<\/em>.&#8221;<\/p>\n\n\n\n<p>Thank you John.<\/p>\n\n\n\n<p>In his book, he tells a great story of a business person who wants to sell his business. It will really get you thinking. You should buy it. Why?<\/p>\n\n\n\n<p>Because John&#8217;s book provides valuable insights and practical advice for prospective small business owners looking to build a valuable asset that can thrive without their constant involvement. <\/p>\n\n\n\n<p>The book is an easy-to-read, practical guide for anyone looking to create a successful and scalable business you can sell.<\/p>\n\n\n\n<a href=\"https:\/\/www.amazon.com\/Built-Sell-Warrillow-28-Feb-2013-Paperback\/dp\/B011T6SNA2?crid=1CS2MK2IUQHXO&#038;keywords=built+to+sell+book&#038;qid=1683579969&#038;sprefix=built+to+s%2Caps%2C1184&#038;sr=8-1&#038;linkCode=li3&#038;tag=thefrakin-20&#038;linkId=5b6b796d4e9068d8a5f173003a972287&#038;language=en_US&#038;ref_=as_li_ss_il\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" border=\"0\" src=\"\/\/ws-na.amazon-adsystem.com\/widgets\/q?_encoding=UTF8&#038;ASIN=B011T6SNA2&#038;Format=_SL250_&#038;ID=AsinImage&#038;MarketPlace=US&#038;ServiceVersion=20070822&#038;WS=1&#038;tag=thefrakin-20&#038;language=en_US\"\/><\/a><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ir-na.amazon-adsystem.com\/e\/ir?t=thefrakin-20&#038;language=en_US&#038;l=li3&#038;o=1&#038;a=B011T6SNA2\" width=\"1\" height=\"1\" border=\"0\" alt=\"\" style=\"border:none !important; margin:0px !important;\" \/>\n\n\n<hr \/>\n\n\n<p><strong>So what type of franchise should you purchase?<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.thefranchiseking.com\/top-franchise-opportunities\">The type of franchise you should buy<\/a> is one that can eventually operate without you being there all the time. <\/p>\n\n\n\n<p>Please read that again. <\/p>\n\n\n\n<p>Examples of franchise businesses that can normally run without the franchisee being there all the time include:<\/p>\n\n\n\n<p><em>Almost every franchise opportunity in the world<\/em>.  <\/p>\n\n\n\n<p>Except&#8230;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2>Franchise Businesses That Are Difficult To Sell<\/h2>\n\n\n\n<p>I can name a few franchisors and even some franchisees that may not like what I&#8217;m about to share here. Here goes. <\/p>\n\n\n\n<p>The best example of a franchise business type that&#8217;s hard to sell is a coaching or consulting type of franchise. <a href=\"https:\/\/www.thefranchiseking.com\/actioncoach-franchise-review-business-coaches\">Like this one<\/a>.   <\/p>\n\n\n\n<p>That&#8217;s because in a small business coaching franchise <strong>you&#8217;re the business<\/strong>. <\/p>\n\n\n\n<p>Not the &#8220;<em>brand<\/em>,&#8221; even though the folks at franchise headquarters will tell you how powerful their brand is. And how you&#8217;ll be able to capitalize on it. <\/p>\n\n\n\n<p>Wait. I forgot to tell you something. <\/p>\n\n\n\n<p>Would you like to know how you can make a lot of money owning and then selling a coaching franchise?<\/p>\n\n\n\n<p>Become the Master Franchise holder of the franchise.<\/p>\n\n\n\n<p>For example, if you own &#8220;<em>ActionCoach of New York<\/em>,&#8221; and you have 15 franchisees under you, you have something to sell. <\/p>\n\n\n\n<p>That&#8217;s because they&#8217;re paying you a percentage of their revenue x15. <\/p>\n\n\n\n<p>And better yet, whoever you sell your Master Franchise to will have a great opportunity to sell even more franchises in New York and increase her revenue. Hopefully a lot. <\/p>\n\n\n\n<p>But if you&#8217;re the owner if a single coaching franchise&#8230;even if you&#8217;re making good money, your clients aren&#8217;t buying ActionCoach. <\/p>\n\n\n\n<p>Instead, they&#8217;re buying <strong>you<\/strong>, as you&#8217;re the face of the business. They&#8217;re buying your expertise. And it doesn&#8217;t matter if your using the ActionCoach worksheets and techniques. What matters is <strong>you<\/strong>. <\/p>\n\n\n\n<p>Can you think of any other types of franchises in which <em>you<\/em> are the business? <\/p>\n\n\n\n<h2>Franchises That Are Easier To Sell<\/h2>\n\n\n\n<p>Here are several <a href=\"https:\/\/www.thefranchiseking.com\/franchise-exit-strategy\">franchise types that are easier to sell<\/a> than a one-person business.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.thefranchiseking.com\/food-services-industry\">Food<\/a> franchises<\/li>\n\n\n\n<li>Hair Salons <\/li>\n\n\n\n<li>Retail franchises<\/li>\n\n\n\n<li>Home Services franchises (<em>with employees<\/em>)<\/li>\n\n\n\n<li>Automotive franchises <\/li>\n\n\n\n<li><a href=\"https:\/\/www.thefranchiseking.com\/pet-butler-franchise\">Pet<\/a> franchises<\/li>\n<\/ul>\n\n\n\n<p>And too many others to list. <\/p>\n\n\n\n<p>Things these franchises have in common.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>They have employees<\/li>\n\n\n\n<li>They have a location and\/or vehicles<\/li>\n\n\n\n<li>They possess client\/customer lists<\/li>\n<\/ol>\n\n\n\n<p>Got it?<\/p>\n\n\n\n<p>Conversely, what does a coaching or consulting franchise have?<\/p>\n\n\n\n<p>The owner. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2>On Selling A Franchise<\/h2>\n\n\n\n<p>Did you know you can sell your franchise business pretty much anytime?<\/p>\n\n\n\n<p>9 times out of 10, you can sell your franchise after a year in business, 4 years in business, whenever. There&#8217;s one caveat. <\/p>\n\n\n\n<p>The executives at franchise headquarters need to approve the buyer.  <\/p>\n\n\n\n<p><strong>P.S<\/strong>. there are <em>always<\/em> people <a href=\"https:\/\/www.thefranchiseking.com\/buying-existing-franchise\">looking to buy existing franchises<\/a>. Even non-franchise businesses <a href=\"https:\/\/www.bizquest.com\/businesses-for-sale\/\" target=\"_blank\" rel=\"noreferrer noopener\">like these<\/a>. <\/p>\n\n\n\n<h2>Final Points<\/h2>\n\n\n\n<p>To summarize, when you purchase a franchise, you need to think long and hard about your exit strategy. Before you buy it. <\/p>\n\n\n\n<p>Secondly, if you want to have a decent chance of having equity in your business, you need to stay away from franchises that revolve solely around you. For instance, most one-person franchises. <\/p>\n\n\n\n<p>Thirdly, if you want to sell your business, you can do so at anytime <em>(in most cases<\/em>). You don&#8217;t need to wait until your franchise contract is up.<\/p>\n\n\n\n<p>Finally, and I haven&#8217;t mentioned this yet, you need to <a href=\"https:\/\/www.thefranchiseking.com\/15-essential-questions\">talk to a lot of current franchisees<\/a> about the potential for equity. <\/p>\n\n\n\n<p>Ask them if they know any franchisees who have sold their franchises and how they did. You&#8217;ll be surprised how much they know, because in most cases, franchisees talk to one another regularly. <\/p>\n\n\n\n<p> So if you find the right franchise, one that can potentially provide you with equity, do your research, make a yes or no decision, and come up with an exit strategy.<\/p>\n\n\n\n<p>You&#8217;ll be glad you did. <\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post is about getting to a place in which you can sell your franchise. &ldquo;Wait. I haven&rsquo;t even bought a franchise yet, Joel.&rdquo; That&rsquo;s okay. But you need to have an exit strategy. And not when your franchise business has been up and running for a while, but now. Before you write a check [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":43879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[2123,2122],"tags":[573],"class_list":["post-43872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-franchise-business","category-choose-a-franchise","tag-franchises-for-sale"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sell Your Franchise For A Nice Profit &#8212; The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"In this post, The Franchise King\u00ae talks about setting things up to sell your franchise for a profit by thinking long-term.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thefranchiseking.com\/franchise-to-sell\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Build A Franchise You Can Sell For A Nice Profit\" \/>\n<meta property=\"og:description\" content=\"In this post, The Franchise King\u00ae talks about setting things up to sell your franchise for a profit by thinking long-term.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thefranchiseking.com\/franchise-to-sell\" \/>\n<meta property=\"og:site_name\" content=\"The Franchise King\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-09T12:26:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-18T14:49:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/selling-a-franchise-business.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Joel Libava\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchise-to-sell#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchise-to-sell\"},\"author\":{\"name\":\"Joel Libava\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/person\\\/b560fd324f6df9be52ac875e631beb66\"},\"headline\":\"Build A Franchise You Can Sell For A Nice Profit\",\"datePublished\":\"2023-05-09T12:26:59+00:00\",\"dateModified\":\"2024-12-18T14:49:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchise-to-sell\"},\"wordCount\":1140,\"publisher\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchise-to-sell#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.thefranchiseking.com\\\/wp-content\\\/uploads\\\/selling-a-franchise-business.jpg\",\"keywords\":[\"franchises for sale\"],\"articleSection\":[\"Buying A Franchise Business\",\"Choose The Right Franchise\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchise-to-sell\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchise-to-sell\",\"name\":\"Sell Your Franchise For A Nice Profit &#8212; 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Joel is the author of \\\"Become a Franchise Owner!\\\" (Wiley) and \\\"The Definitive Guide to Franchise Research\\\" (Self). Joel's blog, The Franchise King Blog, is the longest-running blog in franchising. Joel also owns and operates The Franchise Attorney Directory. Joel Libava works 1-on-1 as a Franchise Ownership Advisor, and is a prolific writer on all things franchising. 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