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Yes, franchisees, if in compliance with their franchise agreements, have the right to resell their business. But, of course, franchise resales involve many more considerations than the sale of an independent business.
For example, although the franchisor cannot determine the asking or selling price, it can (and in most cases will) reserve the right to approve a new franchisee in the form of the buyer. Another example is ‘timeframe’. Because franchise agreements include a specific ‘term’ (or length of time) for which the franchisee can operate the business, the balance of the term of the agreement plays a major part in the buyer’s due diligence (or, at least it should). Of course, the buyer, if sufficiently practiced or coached by competent counsel, has the opportunity to discuss new terms with the franchisor. Those are but examples of the differences between franchise and independent resales, but there are many, many more issues to consider.