Is It Time to Sell Your Franchise?
You have operated your franchised business for several years. It is time for you to try to sell it so you can move on with the next chapter of your life. Selling a franchise is not that easy. In most cases, you cannot sell the franchise without the franchisor's permission and approval of the sale. In many cases, the franchisor has control over the terms of the sale and can refuse to approve the sale for a variety of reasons.
In addition to understanding your rights to sell under the franchise agreement, you also need an experienced attorney to draft the purchase and sale agreement so it accurately addresses the nuances in your franchise agreement as well as accurately documenting the terms of your agreement with the buyer. Howard Bundy offers his clients experience in both franchise and small-business law and can guide you through the sale of your franchise.
What You Need to Know Before Selling Your Franchise
If you are considering selling your franchise, remember:
- Don't sign a listing agreement or purchase and sale agreement before talking to your franchise lawyer.
- Understand what you can and what you must tell a buyer.
- Understand what you have to sell.
- Understand the value of what you have to sell.
- Understand what your franchise agreement requires you to do.
- Understand how to protect yourself with a good purchase and sale agreement.
- Understand and manage the risks if you are providing financing.
- Check out the buyer.
Most importantly, retain an experienced franchisee attorney. Howard Bundy has more than 30 years of experience representing franchisees and franchisors, experience that only a handful of franchise attorneys can offer.
Seattle Franchise Sale Agreement Lawyer
If you are interested in selling a franchise in Washington, contact the Bundy Law Firm today. Our experience will be invaluable in protecting your business for years to come. Call toll free 888-325-8817.
