Anybody own/owned one?
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Franchises
- Thread starter Brad Goodman
- Start date
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- Banned
- #3
I havent owned one, but I know people that have, and you are in for a lot of hourse and a lot of paperwork
But, it can be very rewarding.
But, it can be very rewarding.
Equus
????????????
Parents are in one of the biggest franchise in the world.
Prefer not to say who, but if you want to exit out of the franchise there are a chance where HQ will twist your arm so to speak if you want to sell the shop.
How? Let me show you -
Background- Say the franchise is failing you since the HQ allowed too many franchise around your catchment area.
1- You decided to sell your shop to HQ so it'll be a HQ run shop at a price of $500 000.
2- HQ says no, but will advertise on the franchise newsletter for you.
3- Here's the twist. If another franchise is interested and wants to buy it at a negotiated price of $450 000, which you reluctantly said yes to, HQ can either -
A- Override the decision and say that the deal cannot continue and wait until you lower your sale price ridiculously low
B- Override the deal and instead of the franchisee buying it, HQ will buy it instead
Exitting out of a Franchise is hard. Make sure you read the Term and Conditions (Parents didn't, jsut rushed in) and always ALWAYS try to keep a good relationship with HQ. They're your boss. Treat them nice or they will forget you.
Prefer not to say who, but if you want to exit out of the franchise there are a chance where HQ will twist your arm so to speak if you want to sell the shop.
How? Let me show you -
Background- Say the franchise is failing you since the HQ allowed too many franchise around your catchment area.
1- You decided to sell your shop to HQ so it'll be a HQ run shop at a price of $500 000.
2- HQ says no, but will advertise on the franchise newsletter for you.
3- Here's the twist. If another franchise is interested and wants to buy it at a negotiated price of $450 000, which you reluctantly said yes to, HQ can either -
A- Override the decision and say that the deal cannot continue and wait until you lower your sale price ridiculously low
B- Override the deal and instead of the franchisee buying it, HQ will buy it instead
Exitting out of a Franchise is hard. Make sure you read the Term and Conditions (Parents didn't, jsut rushed in) and always ALWAYS try to keep a good relationship with HQ. They're your boss. Treat them nice or they will forget you.