A franchise resale is an established, successful franchise business which is being sold on, often due to the retirement of the existing owner.
But aren’t resales a bad thing?
Resales are a natural part of any franchise business, and a mature franchise can have a handful of resale opportunities available at any one time. Eventually all franchisees will look to sell on their business, so it’s a part of the life cycle of all franchise businesses.
Many immediately think of a resale as a failing business, but this couldn’t be further from the truth.
Owners who are looking to sell on their franchise need to be achieving growth and demonstrate impressive, ongoing achievements with their business in order to attract interested parties. Therefore, resales businesses are often some of the best performing franchises in the network.
Who would buy a resale?
Resales are prime opportunities for ambitious entrepreneurs to take on a business which is already thriving, and develop it to achieve greater turnovers. They are also a great opportunity to buy a business in a popular territory, one which may not have any start-up opportunities available.
Buyers are purchasing an established, trained team of staff, a loyal customer base and a business with a strong reputation in the local area. The business will also have a guaranteed revenue, meaning you won’t be building a business from scratch.
If you are a seasoned entrepreneur, whose strengths lie in leading a team and developing a business further, a franchise resale could be the perfect opportunity for you.
Is a resale your next step in franchise?
Many resale owners have grown a franchise business previously, and want to take their next step in the sector.
If you don’t see the appeal in growing another business from the ground, and instead want to put your management skills to work- a resale could be perfect. You can get started straight away, putting your skills and knowledge to work in improving a business and achieving further success.
You may understand the concept of franchising already, and see the benefits of the ongoing support provided – helping you get to grips with your new business or a change in sector. The franchise structure remains, helping you with aspects of your business you may not be so familiar with, but still allowing you to have independence in running your own business.
This article comes courtesy of Home Instead, the UK’s leading home care franchise has a few resale territories available, due to the retirement of the current franchisees. These businesses have been built up to achieve significant turnovers, with a strong client base which can be expanded even further.
They have already successfully welcomed a number of resale owners to their network, who are taking their businesses to new heights. Most of their resale owners have similarities in their backgrounds; they have run previous businesses, don’t want to start a business from scratch, instead looking to lead a team to achieve further potential.
Resale owners within the Home Instead network include owner of the East Cheshire franchise, Rajan Panesar. After growing various franchise businesses with other top franchisors, Rajan wanted to continue down the franchise route but in a sector that truly makes a difference.
Nurturing his business acumen in his previous ventures and witnessing the success he could achieve with a franchise business; Rajan found his ideal opportunity in the resale of Home Instead in East Cheshire. The business was being sold on due to retirement, but was ripe for expansion, in an affluent area with a high population of elderly people.
Rajan had been looking at joining the Home Instead network for a while, but knew he wanted a resale opportunity. Rajan comments: “I had already grown many franchise businesses from scratch, and knew I didn’t want to do this again. I wanted to use my established knowledge of the franchise sector, alongside my business acumen to grow an existing business to the next level!
“The resale was a perfect opportunity for me. The previous owners had grown the business for over ten years, establishing a trusted reputation across the area, a long-serving team of staff and a loyal client base. The conditions were perfect for me to take on a business with a strong revenue, and develop a plan to grow it even further.”
This article comes courtesy of Home Instead the UK’s No.#1 home care franchise opportunity.