Before You Buy, Think about How You’ll Sell

Why Having a Business Exit Plan is An Important Consideration for Franchise Buyers

As you consider starting a business, it’s worth considering how you’ll eventually exit. When you talk to a SpeeDee Oil Change & Auto Service® representative about your goals, the target is rarely, “I want to work until I’m 80” — no matter how well the business is doing. 

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A business exit strategy is important because when you retire or sell your business, you’ll want to maximize the value of your asset. Without a strategy, you’re much more likely to sell your business for less.

With a business exit strategy, you can choose how to pass on your business. You may sell to someone outside the business, or hire and train a manager who will eventually take over as the new owner. 

One long-term strategy is to have an employee gradually earn ownership. For example, you can give an employee a piece of the company whenever they hit certain agreed-upon goals that reflect the company’s key successes. 

This also motivates the employee to work hard for your success, and you can have regular check-ins to adjust goals and ensure everything’s on track. 

Franchise benefits

Franchise businesses often have distinct advantages over independent businesses when forming a business exit plan.

Franchises offer a winning combination, including an established brand recognition, proven business models, and training. These factors make franchises an attractive choice for people who want to buy an established business with strong operations.

Brand recognition

A SpeeDee owner benefits from our brand’s established reputation and recognition in the oil change industry. This helps attract customers to your store, and it’s valuable for your business exit plan. 

Proven business model

SpeeDee has a proven business model with established systems and processes. Potential buyers can see the historical success and feel confident in the business’s ability to generate revenue.

Comprehensive training and support

SpeeDee offers robust training programs and ongoing support for franchisees. This support continues for the new owner, making the transition smoother and less risky.

Marketing and advertising

While owners are generally responsible for local marketing initiatives, the SpeeDee home office coordinates national and regional marketing campaigns. These marketing efforts help drive customer traffic and brand loyalty, adding value for potential buyers.

Financial performance data

SpeeDee locations have their own P-and-Ls that come into play when a buyer is evaluating the business, but buyers can also use the financial benchmarks published in our Franchise Disclosure Document to understand the overall performance of the brand. This transparency helps them make informed decisions and feel more confident in the purchase. 

Imagine a small local shop with limited financial records and operational documentation. The lack of clear systems and processes makes it a riskier investment for potential buyers.

Streamlined transition process

The SpeeDee home office will assist with the transition process, providing guidance and support to the new owner. This reduces the complexity and risk involved in the transfer of ownership.

Secure your financial future

Having a business exit plan is not just about planning for the end; it’s about maximizing the value of your investment, ensuring continuity, and securing your financial future. For SpeeDee owners, this strategic planning is an integral part of long-term success.

The first step

To take the first step toward owning your own business, download our free franchise report. To learn more about our available territories, click here.