Our client was a franchisee of one of the major UK brands. They operated 3 offices across two cities and wanted to sell the whole lot as a going concern. The business was one of the franchisor's biggest and more profitable offices. We love these sales, because it shows how successful the franchises can be in helping business owners generate 7-figure resales often from cold starts or from smaller beginnings.
Our database is crammed full of mid-life career changers looking for an opportunity to leave employed positions and start out as entrepreneurs. We were not short of applicants for this listing and even after Heads of Terms were signed we were still fielding new enquiries every week. It just shows that the higher-value business attract prospects of high quality and in very healthy quantity.
The buyer organised finance via one of the challenger banks and we assisted in ensuring the banks had all the information they needed to arrive at a positive lending decision.
These franchise businesses are audited annually by the franchisor, so operational and compliance DD was a breeze for the buyer and his lawyers. We helped package up a DD pack for the bank, which satisfied their need and saved on time.
The overall result was a straighforward, uncomplicated sale of this handsome 7-figure resale franchise.
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