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Franchising News: Converting Your Small Business to a Franchise Is a Step Toward a Lucrative Exit

By Bill McPherson, VP of Retail Network Development

When a new business owner first starts out, the thought that they may want to sell their business some day is the furthest thing from their mind.

But having an exit strategy and a plan to sell your business is a vital component of any entrepreneur’s roadmap to success.

While it is true that some companies become local landmarks and take on a life of their own, most independent businesses require a strong marketing plan, investments in new technology and a modern operational strategy to grow well enough to create generational wealth.

One of the ways that a locally-owned business can continue to scale their company and become attractive to potential investors is to consider converting it to a franchise.

For the full article, click here.

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