When exploring franchise opportunities, it’s important to consider the potential for franchise resales, even if it’s not at the forefront of your mind. Having a solid resale program at your fingertips can be a major advantage down the road.
While we expect our franchisees to operate their businesses for many years, it’s only natural that they’ll eventually start to think about selling their business when the time comes to retire. By having a reliable franchise resale program in place, you can rest assured that you’ll receive a fair price for your business that accurately reflects the effort and time you put into building its value.
At The Great Greek Mediterranean Grill, we take franchise resales seriously and have established franchise resale and transfer programs through our parent company, United Franchise Group (UFG), and its affiliates.
What Are Franchise Resales?
Franchise resales refer to the process of selling an existing franchise business to a new owner. This means that the franchisee is selling their rights to operate the franchise to someone else, along with any existing assets, customers, and goodwill associated with the business.
These types of transactions can occur for a variety of reasons, such as retirement, relocation, or a desire to move on to other ventures. In most cases, resales are subject to approval by the franchisor, who must ensure that the new owner meets the same criteria and standards as the original franchisee.
You Should Choose a Resale if…
- You’re ready to completely move on from your franchise.
- You’re looking to make a straightforward exchange of money for the rights to the business.
What Is a Franchise Transfer?
A franchise transfer refers to the process of transferring ownership of a franchise from one franchisee to another. This can happen for a variety of reasons, such as the original franchisee wanting to sell their business or retire or the franchisor requiring a transfer due to a breach of contract or other issues. The new franchisee must typically meet the franchisor’s criteria and sign a new franchise agreement, which includes fees and ongoing obligations, in order to take over the franchise.
You Should Choose a Transfer if…
- You might still have some role in your franchise but will transfer ownership to a business associate or family member.
- You want to step down as franchisee but might still be contracted for some services.
How UFG Helps with Resale and Transfer of Great Greek Mediterranean Grill Franchises
Selling or transferring your Great Greek Mediterranean Grill franchise can be a daunting task, but with the help of United Franchise Group (UFG), the process can be made smoother and more efficient. UFG offers a range of services to its franchisees to help them with the sale or transfer of their business.
One of the key advantages of working with UFG is that they have an experienced team that can prepare a comprehensive business analysis and valuation. This is important as it provides a realistic picture of the business’ performance and financials, which can be attractive to potential buyers. Unlike other franchise brands, UFG has an in-house team that can handle this, saving franchisees the trouble of having to find and hire an outside contractor.
UFG also has a well-established network of affiliates, including Transworld, that specialize in buying and selling businesses. By leveraging these resources, UFG can market your franchise through proven systems, increasing the likelihood of a successful sale.
Finding the right buyer is crucial to ensure a smooth transition of ownership. UFG takes care of this by meeting with and qualifying potential buyers, ensuring they have the necessary qualifications to take over The Great Greek Mediterranean Grill franchise.
Lastly, UFG assists with preparing offers and closing sales. Once a potential buyer has been identified, UFG’s team will guide them through the process of closing the deal while ensuring that all information is handled with the utmost discretion.
The Benefits of Partnering with a UFG Brand
Partnering with a UFG brand comes with a plethora of advantages that are hard to ignore. With years of experience in the franchising industry, UFG has established itself as leaders in the space. Their franchise sales and franchise transfer programs are just two of the many perks you can avail yourself of by partnering with them.
The Great Greek Mediterranean Grill offers an array of benefits to our partners, including discounted franchise fees for those who co-brand or open multiple units, access to marketing resources to promote your authentic greek food brand, expert assistance in scouting for real estate locations, valuable brand recognition, and business coaching to help you achieve your goals.
So, whether you’re an entrepreneur looking to establish a new business or an established brand looking to expand, partnering with a UFG brand is a smart decision that will reap rewards for years to come.
Are you ready to join the Great Greek Mediterranean Grill family, or are you interested in our franchise resale opportunities? Contact us today to get started!