The following franchises are for sale in Ireland

Buying an existing franchise in Ireland

Not all franchises need to be bought new. Many existing franchise owners are looking to sell their franchise. So for those who are reluctant to start a franchise from scratch, buying an existing franchise in Ireland could be the ideal solution.

There are many reasons why a franchise could be for sale - franchisee is looking to retire, franchisee has built a successful business and is now looking to sell, the franchisee or their partner is ill and they no longer can commit to the business, they may be getting divorced and need to sell the franchise as they were in business together, the franchisee is relocating, the franchise was not for them and they wish to move on and the franchisee has other business interests that they need to concentrate on.

You need to make sure you know the reason behind why the franchise is being sold and be assured that it is not because the franchise didn't work.

If the franchise is being sold became it is underperforming, it may be the fault of the franchisee and not the actual franchise. You need to be comfortable that you could turn it around. If you look at other franchisees in similar geographical areas, it should allow you to see the potential of the franchise.

There are many advantages to buying a franchise resale:

• The franchise is already trading with cashflow and will have past records of turnover etc. This allows the franchisee to be able to make financial projections for the future
• They have established the brand in their local area and have a loyal customer base
• All the systems and procedures are in place
• If the business is being sold with their staff, then the staff will be knowledgeable and experienced.
• Banks also favour a franchise resale over a new franchise as they can look at past records etc and are able to make future projections based on this. They will be able to see what you should be able to make and can fund accordingly.

With all of this in place, the new franchise owner will be able to hit the ground running.

One of the "disadvantages" is that you will pay more for all that we outlined above. As the franchise is not a start-up, it will be more expensive to buy than a new franchise. The more established and profitable the franchise business is, the more you should expect to pay.

As like when buying any franchise in Ireland, you need to do your due diligence and consider all aspects of the franchise resale before you buy it. Weigh up the pros and cons and make sure you thoroughly know the local market.

It is not unreasonable to ask the franchisor and franchisee to allow you to work in the business for a week or two to get a feel for the business. The franchisee you are buying the business from should help you with local knowledge etc.

You need to thoroughly examine all financial aspects of the business; the sale and purchase is based on the value of the assets and goodwill of the business. The franchisor should also be able to back up any financial information that the franchisee provides.

Remember, there is no such thing as too much research!