The information you submit via our enquiry form is shared only with the franchise business(es) that you have selected.

The franchise business will contact you by means of email and/ or telephone only to the email address and phone number you have provided.

By submitting the enquiry form you are consenting to send your personal information to the selected franchise business.

You also agree to receive further newsletter email marketing from What Franchise.

Close

6 steps to selling your franchise

 6 steps to selling your franchise

Forward planning will ensure the process runs as smoothly as possible, Franchise Resales advises

When you’re ready to sell your franchise, there are several steps you need to take before advertising your business for sale.

1. Get your ducks in a row

Before you start to advertise it for sale, ensure your business is neat and tidy.

Are your accounts in order, contracts in place, leases and agreements organised, etc? When a prospective buyer looks into the nitty-gritty of your business, they want to see that it’s well run and profitable.

Having a neat and tidy business will make it more appealing to a potential buyer.

2. Create a prospectus of sale

In order to sell your business, you’ll need to create a prospectus of sale. This is a document that details everything about it and sells it to a potential buyer.

From here, anyone interested can make a list of any further questions they have that might help them carry out their due diligence. Your prospectus should include:

  • An overview of the franchise.
  • An overview of your business.
  • The asking price.
  • Details of any property.
  • Details of any staff.
  • Information about equipment included in the sale, whether leased or owned.
  • Accounts and up-to-date management accounts.

3. Appoint a solicitor

It’s necessary to appoint a solicitor to complete the legal transfer of the business.

Although it’s not always necessary for smaller resales, it’s still advisable to consult a solicitor before completing.

It’s of the utmost importance that you use a solicitor who is familiar with or specialises in franchising. The sale of a franchise is much more complicated than a regular business sale and not using a solicitor with franchise experience could slow down the sale.

4. Franchisor approval

Before you agree a sale with a potential buyer, they will need to be approved by your franchisor.

It’s crucial to seek this approval before you go too far into the process, as it’s no good progressing the sale for your franchisor to reject the buyer at the last minute.

Involving the franchisor from the beginning is the best way to find a candidate who will fit well within the network and who the franchisor approves of.

5. Advertise your business

To generate leads for your business, you will need to advertise it.

Getting it out there is easier than ever, thanks to online and digital platforms. However, these are not free and you’ll need to spend time writing a relevant advert to entice potential buyers.

Once your business begins to generate leads, you’ll need to vet the candidates and eliminate anyone who is not suitable.

6. Non-disclosure agreement

Before you give any candidate the prospectus or disclose sensitive information about your business, you’ll need to ask your potential buyers to sign a non-disclosure agreement.

This is to ensure they will not discuss any information about your business with others outside of the sale.

Exciting Franchise Opportunities

RETRA FITNESS logo

Start your own RETRA FITNESS franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

N/A

Request Free Information
Find Out More
RETRA FITNESS logo

Request Free Information

Send a free enquiry to RETRA FITNESS for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
TREND Transformations logo

Start your own TREND Transformations franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

£600,000 to £800,000

Request Free Information
Find Out More
TREND Transformations logo

Request Free Information

Send a free enquiry to TREND Transformations for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
Greensleeves logo

Start your own Greensleeves franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

N/A

Request Free Information
Find Out More
Greensleeves logo

Request Free Information

Send a free enquiry to Greensleeves for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
TRIB3 International logo

Start your own TRIB3 International franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

Operational break even from 6 to 7...

Request Free Information
Find Out More
TRIB3 International logo

Request Free Information

Send a free enquiry to TRIB3 International for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
Chicken Cottage logo

Start your own Chicken Cottage franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

Discussed at interview stage

Request Free Information
Find Out More
Chicken Cottage logo

Request Free Information

Send a free enquiry to Chicken Cottage for further information!

By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
View all opportunities

Must Read Articles

View all Business Advice

What Franchise Newsletter

Keep up to date with all the industry news

Thank you, your sign up was successful. Please check your emails for a verification link.