You have operated your franchised business for several years. It is time for you to try to sell it so you can move on with the next chapter of your life. Selling a franchise is not that easy. In most cases, you cannot sell the franchise without the franchisor’s permission and approval of the sale. In many cases, the franchisor has control over the terms of the sale and can refuse to approve the sale for a variety of reasons.
In addition to understanding your rights to sell under the franchise agreement, you also need an experienced attorney to draft the purchase and sale agreement so it accurately addresses the nuances in your franchise agreement as well as accurately documenting the terms of your agreement with the buyer. The Bundy Law Firm offers their clients experience in both franchise and small-business law and can guide them through the sale of their franchise.