Selling an existing franchise is not the same as selling non-franchised businesses. Jean Scheid takes a look at how to sell your franchise, what you should know, and what issues you’ll face during the sales process.
Buying & Selling a Business – Advice and Tips
Are you thinking about buying an existing business and want to know which items you should check first? Or, are you a business owner who wants to sell your business and move on? This portal at Bright Hub’s Entrepreneurship Channel is dedicated to giving tips and advice to those considering buying or selling a business, whether you’re the current owner or prospective buyer.
Before you make the decision to purchase an existing business, make sure you’ve done your homework and have practiced due diligence. In addition, if you’re entering the venture with partners, protect yourself with a buy-sell agreement.
If you’re on the other side of the fence and looking to sell instead of buy, be prepared to pay the taxes associated with selling your business. Also, check out some of the strategies offered by our panel of experts on how to get the best price possible when making that sale.