A keen business sense is hard to come by, not to mention a strong background…
As a Transworld franchise broker, you have all the skills you need to make deals for your clients. However, something your client is never prepared for are the types of buyers he/she may run into when pursuing a sale. To help prepare them for what to expect, here are the two types of buyers your clients may run into and how you can help.
Your clients have most likely developed an attachment to their business even though they are looking to sell it. This means they are looking for someone they can trust to keep the business alive and prosperous.
When an inexperienced buyer walks in looking to buy your client’s business, it is up to you to convince your client if they are a good fit or not. Just because someone is inexperienced in the field does not mean they are not a worthy candidate for the business.
For example, Transworld franchise brokers are not required to have prior experience because they receive the training prior to opening their franchise. If an inexperienced buyer wants to buy your client’s business, a better way to determine if they are qualified is by examining their willingness and eagerness to learn the business.
Finding an experienced buyer for your client could make a huge difference in terms of a sale. However, it could also cause problems as well. Since your clients have probably had these businesses for a long time and want to see them grow in a way that they want, they may seem cold toward the idea of someone who has experience and ideas for the business that may alter the hard work they have done. It is important to understand our clients to comfort and convince them to make the sale.
Franchise brokers often face these challenges when it comes to creating the best deal with the best buyer for their client. Both inexperienced and experienced buyers have potential in the franchising industry if they are willing to learn about the business and adapt. If you are a Transworld franchise broker and ever need help or support to satisfy your clients and find them find an ideal buyer for their business or franchise, contact us today!
If you are not a Transworld franchise broker but would like to learn more about how to join the team, check out our resource library!