What Reviews and Social Proof Mean for Your Business Value
When customer reviews debuted online around 1999, they revolutionized almost every industry and profession. For the first time, compliments and complaints were not private; your customers could (and did) talk back to you, publicly and even, in some cases, with wit and brutal honesty. Customers too polite or shy to call and berate a business […]
AI Says My UPS Store is Worth X. How Much Can I Trust That Number?
There’s no doubt that AI is a powerful tool for aggregating data. It’s not surprising that more and more business owners are using it as a first step in deciding whether and when to list their franchises for sale. We put an AI to the test by asking what my fictional UPS Store unit might […]
When is the Best Time of Year to Sell My Franchise?
Brokers get these questions all the time: When is the best time to sell? When am I likely to get the most attention from qualified buyers? If I want to retire at the end of the year, when should I list my unit for sale? Our answer is always “now.” There is no seasonality to […]
When to Tell Your Franchisor You’re Selling the Business
When you’re selling your franchise, it’s important to notify people in the right way and in the right order. Confidentiality is one of the most important aspects of the sale of a company. Knowing that there will be a change in ownership can be a distraction for staff; some might even decide to leave before […]
Do You Really Need a Broker to Sell Your Business?
When you’re ready to sell your franchise, you may consider doing it on your own. After all, no one knows the business better than you do, and there seems to be considerable interest from buyers in your industry. You’d certainly save the commission fee, which you think might offset the extra time and effort it […]
Selling a Branded Hotel Versus an Independent Hotel
By Chase Keller, CCIM Selling a branded hotel is often very different from selling an independent hotel. The brand affects value, the size and quality of the buyer pool, the ability to secure financing, and the complexity of the transaction. Here are the biggest differences: A major brand will determine what a buyer can do […]
Is a Sale-Leaseback Option Right for You?
By Chase Keller, CCIM Business sales can take many forms. That’s true in the hotel industry as well. One option for sellers is a sale-leaseback, where the owner of a property sells the real estate to a buyer, then immediately leases it back and continues operating the business. In the hotel industry, this separates the […]
Why Buyers Are So Interested in Your Mr. Handyman Business
There’s no doubt that tech companies get a lot of headlines these days. They’re hot, and they continue to have high valuations. But quietly, more and more buyers are looking to purchase companies that are not going to be subject to AI disruption over the next few years. Savvy workers, corporate retirees, and immigrants are […]
How Buyers Really Look at Your STR Report
An STR report is one of the most important benchmarking tools in the hotel industry. It tracks core performance metrics like occupancy, average daily rate (ADR), and RevPAR, and it’s something every serious hotel buyer expects to see early in a transaction. But buyers don’t just glance at your RevPAR index and move on. They […]
How to Find Buyers Outside of a Franchisor’s Listings
A question that often comes up: “Can I sell my franchise without the franchisor’s approval?” The short answer is no. Every franchisor must approve a buyer before you can close a deal. However, that doesn’t mean that listing with corporate is your only means to find buyers. A franchisor will tell you that all the […]