If you’ve been exploring business ownership opportunities, you’ve almost certainly looked at franchising. During your search, you may have come across an existing franchise resale opportunity in your area. So, what exactly is a franchise resale? Is it really a better option than just buying a new franchise? Keep reading as we explore the benefits of a franchise resale opportunity and decide if this is a good fit for you.
What is a franchise resale?
A franchise resale is a franchise location that already exists but is being sold by its current owner. Along with the rights to the franchise business itself, the new owner receives access to the existing location, an active customer base, operational systems and other assets.
What is the benefit of buying a franchise resale versus opening a new one?
The biggest benefit to purchasing a franchise resale is that you don’t have to build your new business from the ground up, often saving you time and money as you bypass the startup phase of a new franchise. A franchise resale lets you walk into a turnkey operation, with an existing book of business and tenured staff. You’ll have an established physical location and customer base, which means you can spend your time adding to your customer list instead of starting from scratch. You’ll also benefit from the previous owner’s sales and marketing efforts, gaining insight into what has and has not worked in the past.
Is a franchise resale the right fit for me?
The biggest consideration when deciding if a franchise resale is right for you is knowing yourself and how you work best. Asking yourself these questions can help you determine if a resale opportunity is the right fit for you:
- Does this opportunity align with my short-term and long-term business goals?
- Is it a good fit with my background and skill set?
- Can I afford it? Do I have the financial resources needed to make the initial investment as well as cover ongoing costs and fees?
- Why is this business for sale? Do I have all the information on business history from the existing owner that I need to make an informed decision?
- Does this business have growth potential?
- Is it a strong, recognizable franchise brand?
- Will the corporate office support me as the new owner? Will training and support be provided to help me get to know the company and grow my new business?
A staffing franchise can be the perfect resale opportunity
A staffing franchise helps connect people seeking employment with businesses that have open positions to fill. Express Employment Professionals is a global leader in the staffing industry, with 860+ locations around the world. Express has been ranked the #1 staffing franchise for 13 years in a row by Entrepreneur magazine, thanks in part to their outstanding Franchise Owner support and industry-leading sales. This combination of high brand recognition, support and income potential means Express should definitely be on your short list of franchise resale opportunities to consider.
If I purchase an Express resale location, do I need to be involved in the daily operations?
Express looks for individuals who are highly motivated and ready to invest in their business, regardless of the type of location (new or resale) you purchase. It’s important to note that the Express concept is not for absentee owners. Even at resale locations, Express Franchise Owners are directly involved in the day-to-day, hands-on work that’s required to maintain the business connections and relationships in the community that the office serves.
Does Express offer support to resale location Franchise Owners?
Express offers outstanding franchisee support from Day 1 to all its franchisees. From assistance with day-to-day tasks like invoicing and paperwork to ongoing training opportunities and marketing support, you will have everything you need to grow your business. “The support we receive from headquarters is really anything we need,” says Franchise Owner Reggie Kaji. “From legal to workman’s comp to billing issues and training, or just the call for guidance on a particular issue.”
How can I learn more about Express resale opportunities?
Express has a strong inventory of franchise resales available throughout the U.S. and Canada. Start by exploring the current list of available resale locations and reach out to Express via the online form when you find one that interests you. They will help you start the process of doing your due diligence on the location, negotiating with the current owner, and completing the approval process and paperwork required to become an Express Franchise Owner.
How much does a new Express franchise cost?
Opening a new office may be a better choice for you if you’d like to choose your location, build your customer base from the ground up and hire your own staff.
The initial investment range for a new Express franchise is $132,000 to $213,000, including a franchise fee of $40,000. Financially, you should have a net worth of $250,000 and access to liquid capital of at least $200,000 (cash, 401K, business or home equity loan).
If you’d like to learn more about Express Employment franchises for sale and the Express opportunity, simply fill out the form below. One of our Franchise Development Directors will reach out to you and help you start your journey to ownership.