Home | General | Selling your franchise territory

Selling your franchise territory

You may have seen the garage organization and shelving ads in the mailers, I know I have. I think the idea is novel and can make someone a nice living. I didn’t realize it was a franchise business, but I suppose it can be profitable enough. One franchisee of the Garagetek system with a territory in Jacksonville, Florida, has sold the franchise business and area expansion rights for about $300,000 (he initially paid $25,000).

Often, if you can afford it, signing a franchise agreement to develop a geographic or metro area is the safest and most financially protectable position. The restrictions on where in your terriroty you can set up shop, how many locations you plan to saturate the area with, and many other competitive factors are much more within your control.

About Ryan Knoll

Attorney and advisor with an interest in franchising. Feel free to email me comments and questions on the "Contact Us" page.

Leave a Reply

Your email address will not be published. Required fields are marked *