Why spend the time growing your own business when you could take on one that is already successful?
If a franchisee has done their job right they should have a growing business that is an asset to both them and the franchisor.
A lot can change during the duration of a Franchise Agreement, some franchisees find that they are ready to sell up and find their next challenge. This leads to a franchise resale, passing the business onto a new partner in the network.
A franchise resale offers a great opportunity to buy into a successful brand. Have a look at the three of the best reasons to consider buying a franchise resale.
1. An established business
When purchasing a new franchise, there is a lot of work to be done, with a lot of long hours to get it off the ground. When you a buying a franchise resale, this work has already been done for you.
You will already have the brand, the customer base, the stock, and everything else that goes along with a business.
2. An immediate income
Whereas you may be waiting 12, 18 or even 24 months before seeing a return on a new franchise investment, when you buy into a franchise resale there is an immediate return.
Of course, the franchise resale is likely to cost more than a new franchise as you are buying an established business. However, if you are looking to get an immediate return, then a franchise resale may be a good route for you.
3. More data, less risk
Although franchise businesses are more risk averse than going it alone, there are still some unknowns. Especially when you are starting out you need to take the time to research your local market and see if there is an appetite for that particular franchise.
When you purchase a franchise resale, all of this work has been done for you.
You will have a chance to not only examine their research, but also their books. This will allow you the opportunity to question why they are reselling and whether the business is sustainable or in trouble.
Fancy buying a franchise resale? Check out the latest opportunities here.Tags: franchise resale, own business