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Moving On – ‘The Exit Strategy’

Moving On – ‘The Exit Strategy’

There are many reasons why a Franchisee may choose to exit a franchise:  it could be during the term of their franchise agreement or simply when they come to their renewal date and decide they no longer wish to continue.  However, there are other reasons too – perhaps due to ill health, even death or they may have broken the conditions of their agreement and could be damaging the brand for you and your network!

Whatever the reason it is important that, as a Franchisor, you are ready to act, to achieve the best outcome for all parties. A good place to start may well be with a ‘franchise agreement health check’ to ensure that you are covered for all scenarios and that you are ready to assist your franchisee with next steps in the exit process.

Here are a few examples of questions that you may want to think about:

  • If the planned exit will result in a resale of the business, what needs to be in place, what does this process look like for you, and for your exiting franchisee?
  • How is the value of a franchise resale calculated, and where and how will you find the new incoming franchisee?
  • What will the banks want to see if they are lending on a franchise resale?
  • What process is in place if someone from within your network would like to purchase?
  • My franchisee is very ill, what support and help can we offer?

The bfa has put together a Specialist Seminar for our members that will answer all of the above and more, with Industry Experts on hand to advise on best practice and to share their knowledge.

We will also discuss the value in post-exit relationships and finish the day with an open discussion and Q&A with all our experts so you will leave with solid processes and plans that you can implement!

To view the full agenda, please visit the member area of the website, under the ‘Learning and Education’ tab, and click on our specialist seminars. This seminar takes place on 26th May, from 9:45am until 16:15 and is being hosted virtually and costs just £50 + VAT.

We look forward to seeing you there.

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