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Bsale has thousands of franchises listed for sale, from mobile services to large multinational food chains. Finding a franchise involves searching for opportunities. The best way to perform the search is to visit the franchise for sale page, enter your location and hit ‘go’. If you are searching for a specific franchise such as KFC, Red Rooster or Jims Mowing, you can enter this into the keyword search to see what is available in your area, region or state. It’s a good idea to save search results and relevant listings so you can easily locate and compare.
Firstly, you will need to read your Franchise Agreement to understand your options when it comes to selling your franchise. As you have entered into an agreement with the Franchisor, there may be restrictions on how, when and if you can sell your franchise. You may find the Franchisor has to approve the potential buyer before the transfer can take place. Once you have received confirmation that you can sell your franchise, you may advertise to sell it yourself or engage a business broker specialising in franchise sales.
Yes. There are thousands of existing franchises for sale on Bsale. An existing franchise will have a sales history and a former franchise owner that you may speak with. Established locations allow you to see the financial history of the franchise and provide forecasts and future projections. The franchises may be advertised for sale by the franchisee, franchisor, business broker or agent. Always obtain independent legal, accounting and business advice before buying a franchise.
Buying a franchise involves a few steps. You may be purchasing a franchise in a new location, or it may have been established for some time. Firstly, you will need to locate a franchise opportunity that suits your skills and abilities. Secondly, you will need to contact the seller, who may be a franchisee, franchisor or business broker and obtain more information, including the disclosure document and franchise agreements. Thirdly, you will need to obtain independent legal, accounting and business advice to help you perform due diligence and assess whether the franchise is right for you. It is a good idea to speak with current and former franchise owners. The ACCC has a good video about buying a franchise and what you need to know.
When you buy a franchise, you are agreeing with the franchisor to use their branding and business systems. The benefit of a franchise is its systems should be well established to enable you to run it successfully. Buying a franchise means getting access to several elements such as; marketing material, operation manuals, client databases, supply chains, training, computer systems and more. In a franchise, the franchisor has established everything, and it is your responsibility as the franchisee to implement these systems to run a successful franchise.
When you’re buying a franchise, the franchisor will need to provide you with a Disclosure Document and a Franchise Agreement. These documents should outline the fees payable by you to the franchisor. There is usually an initial franchising fee which is a fixed upfront fee to cover basic training, marketing materials and any system support. This initial fee can apply when buying a new or established franchise. Other franchising fees can include; fit-out fees, ongoing training costs and legal fees. There are also ongoing franchising fees; these may be at a fixed rate, % of sales, % of profit or a combination. Always obtain professional advice when buying a franchise.
It’s an “agreement in which a person (the franchisor) grants to another person (the franchisee) the right to carry on the business of offering, supplying or distributing goods or services in Australia under a system or marketing plan substantially determined, controlled or suggested by the franchisor or an associate of the franchisor” Franchising Code of Conduct.
When you are signing onto a franchise agreement, the franchisor must provide you with certain documents. At least 14 days before you sign the franchise agreement or make a deposit, the franchisor must provide you with; (A) a Copy of the Franchise Code of Conduct (B) Disclosure Document - which must include reasonable information about the franchise to make an informed decision; (C) The franchise agreement in its final form. The Franchisor must also have provided you with an Information Statement about the risks and rewards of franchising. Further details about franchising and the obligations can be found on the ACCC website.
Buying a franchise means you are entering into a franchise agreement with the franchisor that allows you to operate under their branding and business systems, usually for a set period of time. The agreement will outline your obligations, what happens during the agreed term and what happens after. As a franchisee, you are operating under the franchisor and are bound to the terms in the franchise agreement.
If you are buying a business, you are transferring the business ownership from the current owner(s) to yourself. This transfer involves all the assets and liabilities of the business. You may own and operate the business as you see fit in accordance with Australian law.