So the question you’ll probably want to know is can you, as a franchisee, sell your franchise business? In most cases, yes, but you’ll have to ensure certain pre-requisites are in place. Not to mention, the process can be complex and usually involves a few critical steps.
With so many franchise concepts out there, it is inevitable for one to get overwhelmed from the start. Here are 5 simple slides to help you make a decision on determining the suitability of a franchise opportunity.
Small businesses face the same challenges as most companies: a fast paced business environment, cut-throat competitors and ever-changing consumer trends. Why is market research seen as a luxury only large corporates can afford?
In any negotiation setting, all parties invovled will normally look to gain some advantage over the other party(s), seeking to exploit any situation and come out on top. But the business landscape has changed. First choice is now followed by maybe five other equally plausible options.
Since the franchisees at the end of the day will be another representation of your business, it’s important to choose the people who have the characteristics and qualities that best match your company’s goals and values.
Franchise success is typically measured by the amount of franchise units under the system. The more franchise units there are around, the more successful the franchise will be perceived, and this translates to more a attractive franchise opportunity for prospective franchisees.