If you plan to sell a franchise in New York‚ there are several ways that you can find a potential buyer for your franchise.
The first thing to do when you decide to sell a franchise is notify the franchisor. Besides the legal implications involved‚ a franchisor may know of a potential investor who has expressed interest in your particular area.
If the franchisor does not know a buyer‚ then you may choose to hire a business broker to find a potential buyer for your franchise. You can get recommendations from friends or search online for national broker networks with experience in franchise sales. If you do sell your franchise through a business broker‚ you may be required to pay a minimum transaction fee of $10‚000 or more‚ as well as a commission‚ which will be a percentage of the total transaction.
On the other hand‚ you may attempt to sell your franchise in New York on your own. To do so‚ you may list your franchise on popular Internet sites that attract a lot of businesses and investors. It's important to know that these sites will also charge fees‚ so you may want to first get advice from your New York franchise lawyer or another trusted source concerning reputable websites and broker firms.
Finally‚ to sell a franchise in New York‚ you'll want a New York franchise lawyer to help you through the entire process. An experienced attorney can advise you on the sale of your franchise and can represent your legal interests.
If you are an entrepreneur who is interested in franchising your business there is a lot you need to know‚ including the significance of evaluating your trademark and how to approach the preparation of your FDD. For a limited time‚ get New York franchise lawyer Charles N. Internicola‚ Esq's franchise law report to determine whether or not your business is right for franchising. Contact us today at 1-800-976-4904 for more information about Mr. Internicola's franchise law services in New York and how he assists entrepreneurs franchise their business nationwide.
Category: Buy a Franchise
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