What is a resale franchise?
A “Franchise Resale” is an existing franchise that the franchisee has developed and is not selling. All aspects of the business have been built, and the franchisee is selling the business as a going concern. Typically, franchisees must be granted approval by the franchisor to sell an existing franchise to a new owner, and the franchisor must approve of the new owner before the purchase is allowed. In addition, the new owner may be required to pay the franchisor a franchisee fee and execute a new Franchise Agreement with the franchisor in order to purchase the existing franchise.
