After coming to the financial decision to buy a franchise, it is vital to prepare for negotiations that could lose the sale.
After coming to the financial decision to buy a franchise, it is vital to prepare for negotiations that could lose the sale. Selling a business involves a lot of preparation and paperwork. Atlantic Business Brokerage works tirelessly to find buyers for your franchise. By working with us, you increase your chances of selling your franchise. Our diverse database reaches across industries and multiple owners. Our professionals will work with you before posting your sale to ensure an accurate and profitable exchange. We recommend getting a business valuation and speaking with a financial advisor about any lines of credit you have before selling.
Establish Key Points Before Negotiating
Before a sale is open to negotiation, you should speak with one of our professionals to establish accurate pricing and any possible bargaining chips you have. Optional sale items are equipment, furniture, and other items you bought for the franchise that you are willing to use in the negotiation. These items are not required in the sale but may sweeten the deal for a potential buyer. Additional key points may include any cars or investments made for the company. You can speak with a financial advisor at Atlantic Business Brokerage about their value and potential resale. During the pandemic, if your business had serious issues regarding following protocols, that may be important to mention to to the potential buyer.
Prepare an Exit Strategy Before Selling
While deciding if you want to sell your franchise, consider planning your exit strategy. Let your staff know you are potentially selling the franchise with a possible timeline. Your staff deserves a notice they may lose their jobs during the turnover. Also, by letting your staff know of your plans to sell your franchise, you open up an opportunity for them to potentially become a buyer or co-investor. Your exit strategy should also include removing all personal property from the business. Any purchases made for the family on the business’s dime should be properly removed. Talk with our financial advisors today about selling your franchise!
Buy and Sell With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match. Contact us to discuss your business buying and selling goals today at 410-561-9800 or Toll-Free at 800-279-7569. Email us at [email protected], and follow us online on Facebook and LinkedIn.