What Should A Franchisor And Franchisee Know About Franchise Resale
A businessman that has a good idea starts his own business with a big or small scale of operations depending on the financial ability of the entrepreneur. With a number of trial and errors, the right product or service is developed and marketed to earn profits. Eventually, a franchisor makes the decision to turn his establishment into a franchise business. While it is relatively easier to see the popularity of a franchise and a steady demand for its franchise units, there is little clarity on the resale of franchise businesses. In fact, the resale of the franchise has been a taboo till the recent past. The negativity associated with it is such that most franchisors completely avoid the issue. It was looked upon as a failure and that nothing could be done in it. Now that some of the old franchise businesses have reached a certain level of saturation, the transfer of franchise agreement is looked upon in a new light. There is still a lot of old negativity but some positives are being noticed and discussed by experts on the franchise forums.
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