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.
How important is it for a franchisee to have an exit strategy?
Not just franchisees, every business should have some idea of what their exit strategy is and that includes franchisors - more of which in a moment.For many years The Franchising Centre, when helping our clients with their franchisee recruitment, has been asking candidates about their exit strategy, not necessarily in those terms, but with an open question such as: “What attracts you to this franchise and how do see it helping you with your future plans?” Some may say: “It’s something to keep me busy until I retire”, “It’s a business I want to build and pass on to my children” or “I want to create a multi-unit franchise I can then sell for a large capital gain.”Apart from anything else, the answer gives the franchisor a good idea of whether the candidate meets its own requirements and is going to operate the business in the way that is intended within the system. It also helps to inform the business plan and guide the level of support that may be necessary during the lifetime of the particular franchised outlet.Franchisors should also know their own exit plan, which will usually be an eventual sale to another franchisor, a group of their franchisees, their management team or a trade buyer within the sector in which the franchise operates.
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
Companies to Consider
Jackson Fire & Security
Eggless Cake Shop Franchise
£180,000, net profits of 22%-26% once established
The Spitting Pig Co
40% net profit on a turnover of £110,000
My Window Cleaner
Canopy Children’s Nurseries
Fun Fest for Children
Body Fit Training (BFT)
Get expert franchising news delivered straight to your inbox
Franchise news, advice and new opportunities delivered weekly.
Must Read Articles
Added 3 years ago | 2 min read
Added 4 days ago | 2 min read
Added one week ago | 2 min read
Find your next business opportunity
Search 100s of UK franchises and become your own boss today.
What Franchise Newsletter
Keep up to date with all the industry news