Approximately 85% of startups survive their first year in business and of those, less than 70% survive their second year in business. By the 5th year, that survival rate is down around the 50% mark. But there are several things you can do to arm yourself for success.
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Before you decide to sell your franchise, it is essential that you check your franchise agreement so that you are complying with the terms of exiting the franchise, otherwise the Franchisor may be able to terminate your franchise agreement leaving you with nothing to sell. Don’t stress – we will make sure you’re compliant, manage the notice process for you and draft the Contract of Sale to protect your interests as you exit. Several of our team have worked as Legal Counsel for some of the major franchises, so we can guide you through the process, so you can focus on your new life ahead.