Are you entitled to a good payday loan?
Assuming your franchise business has the qualities that enable it to be sold for value, two questions still need to be addressed, which are:
Do you own the business?
Are you entitled to sell it for value?
The answers to these questions will depend primarily on the terms of the franchise or licence agreement under which you trade and the exit policy that your principal has adopted. (Please note we will use the word ‘principal’ here to cover the principals of licensees, or franchisees or selfemployed agents.) In the case of most franchise agreements, ownership per se is not an issue.
It is usually clear that the franchisee owns the franchise business. The exit questions that arise are how, and to whom, is the franchisee able to dispose of his businesses when, and if, he wishes to do so?