15 Aug Franchise Resales: Getting Started
Looking for more listings? How about the 757,000 existing franchises that are out there.
Last month we discussed the opportunity available in franchise resales for business brokers. I suspect that the numbers listed in that posting have increased a lot; not only the number of units, but more importantly, the emergence of many new franchises. Many of the service type franchises are reasonably priced.
So, what is a practical way to get started?
Why not select several franchises in the same general field, for example – personal services and/or business services. Learn something about them; contact all those within a reasonable distance from your office, let the franchisor know that you can handle any resales for them. Obtain as much information on the franchises as you can. The key is to let the franchisees know on an on-going basis that this is what you do. This is very important.
Do you have a success story about getting started with franchise resales or specific obstacles you have run into? Please comment. We would like to hear from you.