How Do You Prepare for a Sale?

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Most of the time your buyers are going to be your neighboring franchisees and so that's why picking the market is important. Don't underestimate your employees but then if you're going to private equity of that is your type of buyer for this particular franchise. You just really need to know your financials and don't let a downward trend happen and sell when you're going on an upward trend. The most fun taxes are no fun but when you have a large cash inflow into your bank account you can do much more with that money.

From the archive: This episode was originally recorded and published in 2020. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.

Erik VanHorn is an entrepreneur who uses franchising as a vehicle to success. He has been involved in many aspects of franchising from building franchise sales systems & multi-brand ownership, to helping others find great franchises to buy.

Top 3 Value Bombs:

1. Franchising can be good for anybody, but you need to know what you want for the business.

2. You need to hire the best-of-the-best employees: people who think, act and behave like owners.

3. Relationships can help excel you and your business much faster than just you grinding it out yourself

Helping People Buy, Grow and Sell Franchises - Erik's Website

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