1:35 Josh Minturn introduces Authority Brands (AB)

2:15 Josh says that across all AB franchises, there is a network of almost 1,500 franchisees

2:40 Josh explains the difference between AB’s legacy, mature and emerging franchise brands

4:59 Karen Riker explains why a franchisee would want to sell/exit their business

6:14 Karen outlines the advantages of acquiring an operating franchise and what a “franchise-minded” entrepreneur is seeking

8:20 Karen outlines the advantages offered by a franchise system over an independent business

10:25 Josh explains the training that a new franchisee receives in an acquisition scenario

11:42 Josh explains AB’s role as facilitator in the acquisition process

13:39 Karen explains a selling franchise owner’s options to procure a buyer

16:02 Karen outlines the acquisition process participants in addition to Buyer/Seller/Franchisor

18:10 Josh discusses business valuation best practices

20:30 Josh discusses how funding and business valuation may or may not be handled by the same 3rd party vendor

22:10 Karen and Josh explain how some franchise resales are acquired by neighboring franchise owners and some are acquired by new incoming candidates

25:17 Karen equates joining a franchise to joining a family

26:50 Karen outlines the additional documentation required to successfully transact a franchise resale 

28:33 Karen talks about working hand-in-hand with buyer and seller to make sure they stay on task with checklist items to move towards closing

29:00 Josh explains how Authority Brands handles resales regularly and helps buyers and sellers through the process, since it’s usually the first time buying and selling for both parties

30:40 Josh answers the “hard-hitting” question of how many active resales is healthy in a mature franchise system

32:26 Josh explains how you can view Item 20 in the FDD to see how many units were added or subtracted in the previous year

33:20 Karen outlines the timeline for a successful resale transaction

36:00 Josh encourages new franchise owners to think with the end in mind because at some point, all franchise owners will have an exit

36:40 Karen encourages entrepreneurs to bet on themselves and explore franchise ownership

Free Resource for Franchise QB Listeners:

The Franchise QB Playbook will guide you through the process of finding your perfect franchise fit.
https://docs.google.com/document/d/1XlbD8oyl3uyeiqaM73poH67BX1jRRyCGR7l7qB-3Nz0/edit?usp=sharing. Also, you can view the Franchise QB podcast at www.youtube.com/@franchiseqb.

Contact me and my team with any questions along the way. www.calendly.com/franchiseguy
Mike Halpern, CAFC
[email protected]