Succession planning.

Author:Stone, Dan
 
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As a legacy brand around for more than 40 years, The Melting Pot has franchisees who are ready to retire or start a new chapter in their lives. Running a full-service restaurant is a big commitment, which is why it's imperative to have a resale assistance program that helps franchisees sell their businesses when the time is right for them.

Here are some of the franchisee questions The Melting Pot gets asked most frequently.

Q: HELP! WHERE SHOULD I START?

A: FIND THE RIGHT BUYER.

When franchisees are ready to sell, they have to cast a wide net to find a buyer. While they can't rely on the franchisor to do all the heavy lifting, most franchisors can share standardized methods that will help the franchisee promote the restaurant for sale. For instance, The Melting Pot will advertise all the important details about a location (lease, floor plan, sale price, etc.) on our franchise intranet, which is password protected for those who don't want to sound the alarm with their employees. With our resale assistance program, we offer a high level of flexibility, making sure to keep the process customizable for each circumstance. We can also develop a targeted recruitment plan to promote the opportunity externally through local media outreach and postings on franchise re-sale websites.

Q: HOW CAN I FIND QUALIFIED BUYERS WITH RESTAURANT EXPERIENCE?

A: INQUIRE ABOUT SPECIAL PROGRAMS.

Some franchisors will offer special programs that will help you find candidates who have experience in other areas of the restaurant business (operators, managers, etc.) and even offer them financial incentives to become a franchisee for a resale location. Last year. The Melting Pot announced its "Path to Grow" financing program, which allows qualified operators the opportunity to purchase existing Melting Pot restaurants. This unique program allows some operators to qualify for funding through...

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