As job fears fuel interest in franchising, Franchise Resales’ online portals are proving a hit with both buyers and sellers alike
Rising numbers of redundancies and New Year employment uncertainties are fuelling a healthy interest in the franchise sector.
Leadenham-based Franchise Resales said the pandemic and the fallout from the government’s first furlough scheme - which was designed to protect jobs - has encouraged scores of people to explore the franchise route to self-employment. At the same time, some existing franchisees have even looked to buy new territories.
These trends mean the Lincolnshire-headquartered specialist has been busier than ever and it has responded by upgrading its online systems.
This summer the business created a designated 24- hour portal to help would-be entrepreneurs find their ideal franchise business opportunity.
Now it’s gone a step further by helping existing franchisees who want to retire or realise their original investment to see first-hand how their business sale is doing by creating a 24-hour portal for sellers.
Franchise Resales director Michael Bohan says: “In 2020 when the pandemic was well underway, hundreds of people were furloughed. Now a second scheme is in place.
“Despite the government’s good intentions, many workers have already lost, or still fear, losing their jobs. That has given many the push they may have needed - as well as a financial cushion - to consider working for themselves as franchisees backed by a tried and tested format.
“Although our buyers’ portal only went live in the summer, we’ve had a really good uptake and more than 160 franchise buyers have signed up. It offers them an easy-to-use route to finding essential information once they have signed a non-disclosure agreement.
“With the pandemic having turned people’s traditional working routines upside down and sadly created so many job losses, we’re thrilled to now announce our sellers’ portal for existing franchisees.
“It allows them to provide us with the information we need to produce a prospectus of sale and they can see where their business is advertised and how it’s performing. Also, they can tap into our special guide, 10 important selling tips and much more.”
Slicker and swifter
Franchise Resales’ new portals are providing a slicker and swifter route for people keen to step onto the franchise sector ladder and give franchisee sellers more information at the push of a few buttons.
“This should also speed up sales by highlighting new opportunities available to buyers earlier,” Michael adds.
“Both are also backed up by the human touch because the Franchise Resales team is passionate about working with new franchisees, as well as returning clients, every step of the way.”
At a glance Franchise Resales