Please ensure Javascript is enabled for purposes of website accessibility How to Buy or Create a Franchise | Transworld Business Advisors of Eastern NC UA-161827448-1

How can a Business Broker help with franchising?

How can a Business Broker help with franchising?

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All right, so now we've got a question about franchising. So how's franchising work? So a couple of different ways. So if you're a buyer and you've been looking at businesses to buy, you're not sure what you want to buy. You've looked at many deals over the years. It may be a great opportunity for you to buy a franchise. Buy an existing process basically, something that matches up with what your interests are. So a business broker who can work with you on filling out a buyer profile that's unique for purchasing a franchise. And then based on that, they can help you find the right franchise for you based on the industry sector, based on the money that you have to put on as a down payment, and the areas of interest that are important to you.

The other thing about franchising is, if you're an existing business and you typically have more than one operation, we'd like to see two or more. You can do it with the one, but you have a really good brand, you have a good customer following, and you have a process set up, how the menu's done, so typically you see it with two or more, then you are a great candidate to franchise your business. And working with a business broker like Transworld, our company is affiliated with a group we called Accurate Franchising, which will help you create the financial disclosure documents, which are legal documents in order to be a franchise and to sell the process of joining your franchise. Where you're the franchise owner and then you have multiple franchisees.

So, that is a great way to scale your business, increase revenue quickly and control the process. But the goal is set. Each one is, it's like McDonald's, you want each one to be very similar. So when somebody goes into one McDonald's versus another, the Big Mac tastes the same. So call a business broker, or work with IFPG, which is the International Franchise Professional Group. And business brokers are tied with them. But a business broker can help you find and quickly narrow down your search to buy the right business.