How Do You Buy An Existing Franchise?
Buying an existing franchise can eliminate some of the hassles of starting a new venture. Though it may cost more to buy an existing franchise than start a new franchise of your own, the financial stability and customer base of an existing franchise is already proven. The process of purchasing an existing franchise is also quicker than starting a new franchise of your own. Step 1 Find existing franchises for sale. Search franchise directories on the Internet and classified ads in newspapers to find existing franchises that are available. Narrow down which type of franchise you are looking to buy, and then locate a couple existing franchises you would consider purchasing. Step 2 Meet with the current owners and get copies of the franchise’s financial records. Review the financial statements of the existing business. Before purchasing an existing franchise, you must be sure the business is financially lucrative. Unless you are very savvy in the area of finance, it is best to let your acc
