Selling a franchise business is not as straight forward as selling your own business. Your franchise agreement will have detailed instructions on the procedures that you need to follow when you take the opportunity to sell your business.
The franchisor will be able to assist you in valuing your business and will probably insist that you use the methods of valuation as set out in the franchise agreement. You will of course be free to seek independent advice and valuations.
Be careful when seeking the advice of experts and always agree the price beforehand so that you are prepared for the final costs and have a chance to negotiate any prices quoted before giving them the work.
It is always worth seeking a second opinion as valuations can vary wildly. This is due to the many variables the valuation experts take into account including future growth potential of your business and values for any properties whether leased or purchased.
The franchisee will have to seek the permission from the franchisor to sell the business. This permission can not be unreasonably withheld or delayed provided that the franchisee has adhered to the terms of his agreement and...
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