RESALES
"Resales also have a track record, as they have a proven profitable turnover, an existing team and an established client base"
They must have a very clear vision, ethos and culture that aligns with the franchise network. Resales are valued on a multiple of the operating
profit, and often have larger upfront investment costs. When considering a resale, you need to consider the price of the business as well as the franchise fee. Many banks look favourably on the franchise
sector due to the high percentage of successful businesses and of course with resales, they also have a track record, as they have a proven profitable turnover, an existing team and an established client base.
Taking over an established franchise Home Instead, the UK’s leading home care franchise, has been operating in the UK since 2005 and therefore has a small number of resale opportunities due to retirement. This for Home Instead is part of The Franchise Journey for each franchisee, who they actively encourage to consider their goals including their exit strategy. The resale opportunities with Home Instead
are perfect for caring entrepreneurs, who can see the market potential of an ageing population and quality care provision for older people, as home care continues to become the care model of choice. Support is provided from day one, with new
franchisees enjoying the award-winning support from their 70-strong national office team, ranging from marketing to IT support.
p Mike Harrold
Case Study: A resale journey In 2020, father-and-son team Mike and Greg Harrold purchased the Home Instead Southampton franchise, taking over a business that had been running for eight years. Mike had a personal link to the home care
sector as his mother was a nurse, and he experienced first-hand the need for home care when his parents began to struggle at home as they got older. But similar to many Home Instead franchisees, neither Mike nor Greg had a direct background in care. They were attracted to Home Instead after
learning of their well-established reputation. Both Mike and Greg were looking for business opportunities and when they learned more about franchising, they knew that a resale would suit them perfectly over a new territory. Through buying the Home Instead resale,
Mike and Greg acquired a terrific team, lovely clients, as well as a positive cashflow. Mike explains: “We are enjoying every moment, we are able to make a difference to so many people, as well as continue to build this exceptional business. “We took over the business just a few
months before the Covid-19 pandemic happened. National Office has provided invaluable support, including sourcing supplies of PPE, advice, and guidance. We have also been pleased to see our business grow throughout the pandemic as people are looking for safe and secure alternatives to care homes.”
HOME INSTEAD Care
homeinstead.co.uk/franchise/resales/ 01925 730 273.
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