SELLING LARGE FRANCHISOR BUSINESS
Justine Good, owner of MSP Franchisor business talks to Tony Arena of BCI about the process of selling large franchisor business. This interview helps the owner of any business understand the complexity of the process and the importance of broker and owner working together to achieve the result where of getting the maximum value for your business.
When selling your business it’s important to:
- Make sure systems are up-to-date and in place so that the hand over is simple for the buyer.
- Make sure all key staff are in place.
- Employees are happy and prepared for a change of ownership.
- Franchisees are happy with the state of the franchise systems. Buyers will talk with franchisees.
Business Broker’s role in the sale:
- Give a detailed response in preparing the business for sale.
- Getting maximum value in the sale.
- Give support to the seller where needed.
- Prepare an information memorandum.
It will also help any franchisor who is in the process of getting their franchise ready for sale.