Terminating or Selling a Franchise
If you do purchase a franchise business and it's not right for you, can you terminate or sell it? Contrary to popular opinion, franchises can't really be sold. They can, however, be transferred to a different partner, or new owner that in turn, will have to go through the same process you did when you bought the franchise.
Franchises may be terminated if there are circumstances that occur by either the franchisor or the franchisee such as breach of contract, fraud, or natural disasters. Keep in mind that almost every franchisor has an agreement that favors them and not you, the franchisee.
Before you shut the doors to your franchise and walk away, it's best to talk to an attorney who understands franchise law. Franchise agreements are long and detailed and beyond the initial agreement, may contain other documents and agreements you sign with the franchisor's vendors, equipment companies, and advertising organizations. Once signed, these are all considered legal and binding contracts, so professional help is best. Read Terminating a Franchise Agreement before you decide if you can close the doors along with Steps to Take When Selling Your Franchise.