Why You Should Purchase a Franchise Resale in 2024

Looking to make a career change in 2024? Purchasing a franchise resale may be the right choice for you. Think of it as the fast-track to franchising: offering all the autonomy and income advantages of a franchise, but with much of the legwork—like finding an office and hiring staff—already handled. Curious to learn more? We’ll dive into the specifics of a franchise resale, exploring its benefits and navigating any potential challenges you may face along the way. We’ll also shed some light on the franchise resale process, so you can determine if now is an opportune moment to embark on your next entrepreneurial journey.

What is a franchise resale?

Before we go any further, let’s take a minute to explain the concept of franchise resales. A franchise resale occurs when an existing franchise business is put up for sale by the current owner. Instead of starting a new franchise unit from scratch, aspiring entrepreneurs can purchase the franchise directly from its current owner, benefitting from an established business with an existing customer base, operational infrastructure, and brand presence in the area.

For those considering franchise ownership, a franchise resale can be a smart choice—essentially streamlining the franchise startup process so you can hit the ground running.

Benefits of buying a franchise resale

There are numerous benefits to purchasing a franchise resale! First, like all franchises, it grants you the autonomy to run your business the way you want, and it allows you to grow your career in new and exciting ways. But when you choose to pursue existing franchises for sale, you’re also getting some other advantages, too. You’re purchasing a business with an established book of clients and an existing brand presence—as well as staff who have already been trained and know the business inside and out. Because it’s a franchise resale, you also don’t have to scout for a new location or do much of the infrastructure work, meaning you can start earning money from day one. 

And of course, when you purchase a franchise resale with Spherion, you still get access to all of the hands-on training and support that we offer to all of our franchise owners—whether they’re starting from scratch or taking over ownership.

Challenges when purchasing a franchise resale

While the benefits of purchasing a franchise resale are evident, you should also be aware of some potential challenges. It could be that all goes smoothly, which is great! But we’ve seen a few issues pop up that are unique to franchise resale situations. For starters, sometimes the previous owner was less involved, and that means that you may have to invest in updating office procedures or branding before opening. Occasionally, the change management process with existing staff is difficult to manage, or staff may view this as the right time to make their own career switch. 

And finally, established clients may choose to end a professional partnership with the franchise, simply because of the change in management, or you may find yourself needing to be re-onboarded in their system. All of these can be tough to navigate, but the process is made easier when you’re able to partner with a supportive franchise team like the one at Spherion. 

The path to ownership with a franchise resale 

Let’s say you’re ready to take the next steps to explore franchises for sale and purchase your own. This process can differ depending on which franchise company you work with, but at Spherion, we follow these steps once a potential owner has expressed interest in a franchise resale. 

STEP 1: Initial discussion

After submitting a request to learn more about purchasing a franchise resale, one of our Vice Presidents of Franchise Sales & Development will reach out to give you more information about the franchise resale and the process for becoming a Spherion franchisee. 

STEP 2: Spherion overview

We'll discuss Spherion franchise ownership in detail—including the staffing industry, Spherion operations, and what it takes to succeed. Then, if you're ready to move forward, you'll complete a franchise application. 

STEP 3: Franchise operations review call

We take a closer look at the Spherion franchise operating model and how you will go to market. Because you would be purchasing an existing franchise, this step is a bit more streamlined and focuses more on change management than on general startup information. 

STEP 4: Review our franchise disclosure document

Next, we send a copy of our Franchise Disclosure Document (FDD), which contains detailed information about Spherion, the franchisor and our offered franchise opportunity. FDDs are regulated by law in the United States, where they are governed by the Federal Trade Commission's (FTC) Franchise Rule. 

STEP 5: Support & portfolio manager introduction call

This is where we share the tools and training to help you reach your franchise ownership goals. We provide extensive training (380 hours via video and in-person) on business ops, sales, marketing and tech before opening. You receive an additional 168 hours of on-the-job/classroom training after opening. 

STEP 6: Discovery Day dinner & capstone learning session

Discovery Day is designed to give our franchisees an up-close look at our business and hear from key leaders in the organization. You’ll travel to our headquarters in Atlanta, Georgia, where you’ll have the opportunity to get to know us and we can get to know you. 

STEP 7: Franchise offer & contract signing

If everything checks out and all parties agree that your background, skills, and motivation are a great fit, this is when Spherion will offer a franchise ownership agreement. With your acceptance, you'll sign the agreement and become a Spherion franchisee!

STEP 8: Franchise launch prep

Welcome to franchise ownership! Once you've signed, our franchise opening team takes over to help you get ready for your first day. For a franchise resale, this process typically covers updating any branding or office procedures, handling change management with staff or clients, and making sure you feel confident ahead of opening day.

STEP 9: Opening day!

You've made it! Your franchise resale is open for business—under your name—and you're ready to start matching job seekers and employers in your community. 

A strategic move for more autonomy and income potential in 2024

Making the move to franchise ownership is particularly compelling when you explore opportunities for a franchise resale. Many of the uncertainties associated with starting a new venture can be minimized by the stability and predictability offered by purchasing an established business. Together, the operational efficiency and immediate revenue-generating potential make franchise resales an attractive option for entrepreneurs looking to accelerate their path to success—and Spherion will be there to help every step of the way.

If you’re now interested in exploring franchise resales, we encourage you to check out some of our available franchises for sale.