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Selling a Franchise Business in Kitchener


The city of Kitchener has a population of more than 400,000 with the average population being 35 year olds. The city is ranked as the 10th CMA in Canada entirely due to population. Kitchener is majorly a blue collar city with its main economy being in automotive and industrial sector. The Kitchener and Waterloo region have been termed as the places with highest real estate investment potential for the year 2010. Other than this the potential of growth has been predicted to continue into 2014. The Kitchener and Waterloo region have been shown progressive economic development after the global recession and has been ranked as the 3rd strongest growing economy among 27 urban centers in Canada.

Selling a franchise business in Kitchener can be quite a cumbersome process but, if you know what you should do then sale will be less stressful. Here are some pointers in making sale of a franchise business.

Notify you Franchisor: When selling franchise business, as a franchisee you should contact your franchisor before listing property for sale. Some franchisors have rules and regulations that govern the change of ownership of franchising business. First go through your franchise agreement to get information on requirements and qualifications of prospective buyers. This is important because, you may get a willing buyer who does may not qualify to purchase the franchise.

Get Everything in Order: When making sale of any business it is important during the sale period that you put your best foot forward. When selling a franchise business preparing pertinent sale information is the key. Providing financial information, assets and equipment lists and a full business profile will help to make quick sale. Investors will be more willing to make purchase if provided with important information that shows the viability of the investment. The services of a book-keeper or a certified accountant will be valuable while keeping and maintaining books.

Fair and Competitive Pricing: The pricing of any franchise or small business on sale is a major factor in ensuring sale. Most sellers of franchise businesses make the mistake of overpricing their business. Overpricing makes a business unattractive to investors as the sale price may not be in accordance with fair market value. A good way of getting fair pricing is by asking around to know the price of recent re-sales of related franchise businesses. On the other hand commercial agents are well versed with market prices and guidelines to competitive property pricing.

When selling a franchise business in Kitchener, confidentiality is important. Clients, customers and suppliers are at times very disturbed when they know that a business is for sale. Similarly competitors are likely to take advantage of the situation to garner a few points for themselves. The best way to keep the sale of a franchise business private is by hiring professional commercial property agents. Professional agent will not only handle the sale discreetly they will also give you maximum exposure. Commercial property agents not only advertise locally but also nationally to aid quick sale.

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Homelife Maple Leaf Reality Ltd. Brokerage
Phone (905) 456-9090
Website http://www.navsidhu.com
Address 80 Eastern Ave Brampton
Brampton, Ontario
Canada L6W 4K6