Episode Details
Back to EpisodesWhy You Should Think About An Exit Strategy Before investing In A Franchise
Description
Host: Michelle Rowan, President and COO of Franchise Business Review
Guest: Michael Iannuzzi,
Episode Summary
In this podcast episode, Michelle Rowan discusses the importance of having an exit strategy in franchising with guest Michael Iannuzzi, a partner at Citrin Cooperman. They emphasize that it's never too early to plan your exit strategy, as it helps avoid future surprises and aligns with personal and business goals. Michael explains key concepts like the franchisor's right of first refusal and the importance of having a well-organized data room for potential buyers. They also explore common exit strategies, such as selling to private equity, internal resales, and transitioning to family members or key employees. The conversation highlights the need for franchisees to engage with their franchisors early and often about exit plans, and to understand the realistic value of their business. Michael advises potential franchisees to thoroughly research and engage with the franchise community to make informed decisions.
Resources
- Understanding the Franchise Disclosure Document - Episode 9
- How Much Money Can You Make Owning A Franchise - Episode 14
- Top Considerations for Transferring a Franchise Business
- Do You Need a Franchise Lawyer?
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