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
Can I only sell my franchise to a buyer approved by the franchisor?
Shelley Nadler writes:
Yes. It’s usual for the franchisor to demand the same qualifications and standards for acceptance of a purchaser of a franchisee’s business as applied to direct applicants.
The franchisor will also want to satisfy itself that the purchaser has the financial resources to operate the business, taking into account the buyer’s need to repay any loans they have taken out to purchase the business. The franchisor will want to see a business plan from the buyer and evidence of their financial status.
The criteria by which a prospective purchaser is judged should be set out in the franchise agreement. This usually refers to the buyer having the necessary business experience.
Sometimes this can be just general business experience, but some franchisors may specify that the experience has to be in a certain sector relevant to the franchise.
There is usually a reference to buyers having the necessary ability, which may refer to the skills or characteristics the franchisor is looking for in a franchisee, for example, good communication skills and sales ability.
Another criteria can be compatibility with the franchisor and its management team, where the franchisor is looking for franchisees who will fit in with the culture of the franchise network.
Shelley Nadler is a legal director in Bird & Bird’s international franchising team and has many years’ experience of advising on all aspects of franchising.
You might also be interested in
Answered by Vincent Anthony
Vincent Anthony writes: The property market has wide appeal because it is relevant to everyone: we all... read more
Answered by Louise Harris
Louise Harris writes: Richness or wealth is relative. We always want more, I guess. So, what is... read more
Answered by Shelley Nadler
Shelley Nadler writes: A concern that businesses may have when deciding to franchise their business, is the... read more
Answered by Alan Wilkinson
Alan Wilkinson writes: There are two elements to consider here. First is the franchise fee itself, and... read more
Exciting Franchise Opportunities
Start your own Subway Resale Opportunities franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to Subway Resale Opportunities for further information!
Start your own Drivalia franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to Drivalia for further information!
Start your own CareYourWay franchise
Yes
Find Out More1,000,000
Request Free Information
Send a free enquiry to CareYourWay for further information!
Start your own PACK & SEND franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to PACK & SEND for further information!
Start your own Dyno-Rod Plumbing franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to Dyno-Rod Plumbing for further information!
Companies to Consider
Get expert franchising news delivered straight to your inbox
Franchise news, advice and new opportunities delivered weekly.
Must Read Articles
-
Why does Mail Boxes Ect. work as a franchise business?
Added 10 hours ago | 2 min read
-
Women in business: The advice any new franchisee should know
Added 2 days ago | 2 min read
-
Sales Geek: Behind the B2B franchise trying to start a sales revolution
Added one week ago | 2 min read
Franchises by Minimum Investment
Find your next business opportunity
Search 100s of UK franchises and become your own boss today.
-
Under 10k
Starting a franchise doesn't have to be costly
Click here -
Under 20k
A mid-range investment for the more experienced
Click here -
Over 50k
If budget is not an issue, then don't miss these.
Click here -
Local Franchises
Find the perfect franchise in a location to suit you
Click here
What Franchise Newsletter
Keep up to date with all the industry news