If 2022 is your year to sell your franchise, you’re in luck. FOMO (Fear of Missing Out) has finally hit the business market; we’re seeing multiple buyers interested in every new listing. Many are very motivated because they’ve missed out on previous deals.

An experienced business broker can help you assemble a pool of qualified buyers and help you make the best deal for your company’s sale. We’ve seen many franchisees who relied solely on their franchisor to help them sell and who wound up languishing on the market for months, even years. They’re often amazed at the results we get and how quickly we connect them with sellers. Here’s how we do it.

We’ve been in the business of helping people buy and sell franchises for over 15 years. That means we have strong relationships in the industry based on trust – and getting great results. We’ve developed a proprietary software system and a database with thousands of buyers and sellers. It's growing every day. One secret to our success is our process. It’s been honed and improved over the years to deliver consistent results.

Our software includes buyer profiles so business owners can see that they meet the requirements of the seller, franchisor, lender, and even the landlord. Buyers are matched with opportunities they qualify for – and not with those they don’t. That saves everyone time they might waste in figuring out if the buyer and seller are a good fit. The buyer profile includes information on their net worth, liquidity, and plan for the business they buy, whether they plan to be involved in the business or not – all of which may make a difference in the owner’s consideration of a deal. We make all the information available to sellers after we have the parties sign non-disclosure agreements. Buyers can also see everything they want to know about sellers, saving time on due diligence.

We always say that sellers pick buyers as much as buyers pick sellers, so we make sure both parties have all the information they need to make a decision. Transparency is a cornerstone of our business; it’s even built into our name – Franchise Clearly.

Our process includes putting together financing options and pre-qualifying buyers. We connect them with lenders and help them figure out how much liquidity they need to make a deal. That helps us maximize the number of potential buyers for every sale. We’re able to show buyers in real-time the number of companies that match their criteria. Our program collects all requirements upfront, so we don’t waste a buyer’s time on deals they won’t qualify for.

The work we do upfront allows us to connect sellers with a group of buyers who are ready to make a deal. Sellers definitely have options right now; about 80% of the franchises that have gone onto the market in the past year have had multiple offers. We coach buyers during the process, informing them that several people might be interested in the company and advising them to make their best offer as soon as they can. This also helps move the process along, since the seller is more confident that they’re getting the best deal possible.

So that’s how you sell your business to the highest bidder, but not all sellers make that choice. Some sellers have preferred buyers in mind: a family member, employee, or partner. They may prefer – as we experienced in a recent sale – to sell to someone local or someone who will stay involved in the business.

Even if you think you have a buyer lined up, putting your business on the market could bring in more and better offers. That’s why working with an experienced broker is a good idea. They have the connections to broadcast your business to a pool of qualified buyers. Choosing a full time broker like Franchise Clearly also means your sale gets the attention it deserves; franchisors are often spread thin with other duties, so they may not keep your business top of mind.

Finally, remember that the terms of the deal matter as well: how quickly the seller can close, how much seller financing they’re requesting, the negotiation of transfer fees, and other terms and conditions the buyer might be asking for. We put in extra effort at the beginning of the sale to qualify, match, and coach buyers. But the effort pays off for our sellers in better, faster offers that maximize the value of the business.