Retirement Entrepreneurs Blog

Comments, rants and tips on baby boomer small business ideas
and working after retirement.

Author: Ingvar - Retiree In Training  

Working after retirement

Whatever business you are engaged in or want to set up - at some point you need an exit strategy. As for franchises, it is a little different than selling a purely self-owned business. You buy a franchise for the established brand name and proven system.

When selling a franchise, your buyer is like you - loyal to the brand name and system, not you. That makes a franchise easier to sell. Especially if you can show some growth or at least a steady revenue flow.

The reason selling a self-owned and run business is more difficult is that the business rely on the owner for it's success. Take away the owner - the business might not be the same. This is especially true in a personal service business.

So for that reason alone - buying a franchise might be worth a closer look.

However, there might be some drawbacks. The franchisor might have restrictions on who can buy your franchise. There might be some transfer fees and mandatory training of the new owners. As in buying a franchise, there might be a smaller pool of buyers. So when you buy a franchise, plan for your exit and check out the restrictions.


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