I would like to buy a Gloria Jeans coffee franchise but not sure if i should buy a new one or a franchise resale. What are the benefits of this? And how do i find out where there are existing stores for sale?
As companies mature, it is only natural that existing franchisees from time to time will be looking to sell their franchise. It is the natural progression of the franchise.
There are many benefits of buying a franchise resale. I would start by identifying these so that you can weigh up the pros and cons of both.
The reasons for a franchisee selling their business includes:
- retirement
- relocating
- their exit strategy from the start could have been to sell the business once they made it profitable
- it may not have been the right choice for them
- they may have other business interests that they need to focus more time to
- their financial situation may have changed just to long term illness or death of a loved one and they no longer can afford to keep the business running.
Read more information on buying an existing franchise.
Like many of the big franchise brands, Gloria Jean’s franchise has both new franchises for sale, and franchise resales. If you visit their website they have a list of new territories and existing territories. Also if you have a territory in mind, it is worth asking them if they do or will franchise there.