Hi everyone. I have three franchises at the present time with a Franchisor that currentlly has 15 franchises. It took the franchisor aprox. 7yrs to get to this point and along the way acumalated substancial debt. The net income is not enough to justify paying off his debt. in order to purchase the business. So my question is how do you eliminate his debt. in a purchase with out paying it.
Well as things turn out the Franchisor ended up filling bankruptsy. Myself and one other Franchisee have resurected the company and are back on track. Now were in the process of re franchising and re branding.