Buy a Gently Used Business – Be a FRANCHISE HUNTER!

You have probably seen reality shows like Auction Hunters and Pawn Stars, where used collectibles may result in financial gain.  The stars do their research and find out just how much that collectible is worth and consider how much money they can make.

Did you ever think you could buy a business? 

There are many life reasons, positive or negative, that could lead a franchise owner to sell their business.  Investing in a “franchise resale” could just as easily be a gold mine as it could be a landfill.  The key to potential success or failure is doing your research.

Let’s look at some reasons why a franchise owner would need to sell their business:

• Disaster - need for liquid assets:  Sometimes, bad things happen.  Maybe the owner needs to pay off a medical bill or something else that requires a large sum of capital.  Rather than selling a house, maybe this is their best option.
• Dissolving a partnership:  If the franchise is owned by a partnership, a lack of proper planning could result in the owners needing to sell this business.  This could be a falling-out between partners, or potentially the death of a partner.
• Retirement:  Maybe Bora Bora or another far off island is calling, and the owner is just ready to retire into the sunset.  If there isn’t a heir to the throne, maybe you can take over!

Now, keep in mind, the owner could just be getting rid of a rotten egg.  You want to make sure that you are doing your research and asking the right questions to give yourself the most information. 
This is where FranNet can help!  If you are considering starting business, or potentially even buying a franchise resale, let me sit down with you and talk about the pros and cons.  All of my consultation and services are FREE to you.  Contact me at 313-821-5060 or mcory@frannet.com and let me help you become a FRANCHISE HUNTER.