What is a Franchise Resale Specialist?
A franchise resale specialist is a professional broker in the area of reselling franchises. This means the broker has successfully owned and sold their own franchises or successfully sold multiple franchises of their clients. Such a specialist knows the in’s and out’s of selling a franchise and understands the complexities that the seller will encounter.
What is the difference in selling a franchise and selling a private company?
When selling a private company the requirements of the sale are set by the buyer. There are usually no legal documents holding the owner from releasing the company. Selling a franchise is different. Depending on the contract there could be legal clauses holding the franchise owner to the business for a certain amount of years. There are other requirements that a franchise may hold the franchisee to as well, such as selling to a specifically financially qualified buyer or to a buyer with previous industry experience. When it comes to selling a franchise, it can get quite specific and every franchise has different rules in place for a franchisee to sell.
Chris Kerth has owned and operated 6 different franchise concepts and has signed 21 individual franchise agreements. Teaming with a broker that understands the franchise legal disclosure process can be a huge benefit. Murphy markets and sells new franchise opportunities which can be a great resource for resale buyers.
Chris Kerth is a Franchise Resale Specialist
Before becoming a business broker, Chris was a franchisee of Subway, Handyman Connection, Windows America, SandFree, Snap Fitness and Murphy Business and Financial. Chris opened his first Subway franchise in 1987 at the young age of 26 and sold 10 locations ten years later in 1997. Chris learned firsthand the benefits of working with a broker when selling a business. When you work with Chris, you will have the opportunity to do the same.