Time to Let Go When to Sell Your Franchise It’s hard to say goodbye, but many franchise owners eventually will. They might decide it’s finally time to retire. Or perhaps the money will be invested in a new and exciting business venture.
a sale after you’ve found a buyer and buy the business themselves. The process can scare off many potential buyers. And if a potential buyer doesn’t meet the franchisor’s requirements, it will end the deal before it gets started.
Unfortunately, people sometimes sell due to unforeseen circumstances like illness or disability. Regardless, when and how to walk away is one of the most important decisions you’ll ever face as a business owner. So, how do you know selling is the right move? It’s a highly personal decision, but there are some potential signs it’s time. One of them is losing passion for your business. It may be time to move on if you find the daily grind more frustrating than rewarding.
There’s also the question of timing. Naturally, you’ll want to sell your business for top dollar and not leave any money on the table. Many people choose to sell before it’s time for yet another corporate revamp of the property. Keeping fixtures, furniture, and equipment looking fresh is a big expense, and
it generally doesn’t make sense to invest so much only to walk away. Selling also makes the most sense after your busiest season, when your
It’s also worth considering whether you can give the business the attention it deserves. If other commitments prevent you from giving 100%, your business might benefit from a different owner. And sometimes, for many reasons, you might receive a crazy offer. When your business is worth much more to someone else than it is to you, you should always carefully consider your options. Once you’ve decided to sell your franchise, you’ll face unique challenges. Franchisors have a lot of oversight into how you run your business and a say in how you sell it. Many franchise agreements include a right of first refusal, meaning that a franchisor can cancel
profits will be most attractive to potential buyers.
There are countless other considerations to make when selling your franchise, so you need an expert on your side. Make sure you have a lawyer who knows the ropes and can give you the best guidance possible. And remember, if you have questions, West Coast Franchise Law is only a call away.
GRAPE, GOAT CHEESE, AND HONEY STUFFED SWEET POTATOES
TAKE A BREAK
This sweet and savory appetizer is perfect for the transition between summer and fall.
Ingredients: • 4 sweet potatoes •
Inspired by HowSweetEats.com
• •
4 oz goat cheese, divided 2 tbsp honey, plus additional for drizzling
2 cups seedless red grapes
• • •
1 tsp grapeseed oil
1/4 tsp salt, plus a pinch 1/4 tsp pepper, plus a pinch
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Pinch of cinnamon Pinch of nutmeg
Directions: 1.
Preheat oven to 350 F. 2. With a fork, poke holes in potatoes. Tightly wrap each in aluminum foil. 3. On a baking sheet, place potatoes and roast for 45–60 minutes, until potatoes are tender. Remove and unwrap foil. 4. With a knife, slit each potato down the middle. 5. Increase oven to 450 F. 6. On a nonstick baking sheet, drizzle the grapes with grapeseed oil. Add a pinch of salt and pepper and toss to coat. Roast for 20–25 minutes. 7. Using a spoon, remove sweet potato flesh while keeping shape intact. 8. In a large bowl, mash sweet potato flesh with 3 oz goat cheese, cinnamon, nutmeg, salt, pepper, and honey. 9. Scoop filling back into potatoes. Top with remaining goat cheese, grapes, and drizzled honey.
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