Management plan Description of the Business When preparing a description of your business, first look at the nature of your business.
Define your model very carefully. The decisions you make now will be difficult to change once you have set your model up and have franchisees in negotiation with you, or on board.
Decide the terms of your franchise agreement, this will define your business and its profitability for a long time to come, so think carefully and do some modelling of the various royalties and fees, bearing in froots franchise business plan you will want to lock franchises into a ten year contract or longer.
Look carefully at competitive franchisors, not just in your own sector, and put yourself in the position of potential franchisees, who will have to take the fee package into account when making their own decisions. Consider the following;- The structure and level of your franchise fee and royalty rate, management fees, marketing fees.
The territory, or size of territory you will award each franchisee Will the franchise be exclusive? How many years will the licence be for?
What will the renewal requirement and targets be? Devise a training programme, consider who will deliver it and who will handle support for franchisees. Will you use e-learning as well as face to face training? Do you need to find someone to develop the e-learning programme for you, which will take some time?
Although this will involve a significant up front cost, it may save money on training staff further down the line.
Decide whether franchisees source equipment and ingredients from your company, from a source you specify. Will you make a mark-up on the supply? Specify the type of franchisees you will seek.
Do they need specific skills, or business experience?
What will be the total amount of start-up cash franchisees would need? How will you market the franchises? Will you use master franchisees who will develop multiple units in their area, or do you want an owner-operator for each unit who deals directly with you.
Once you have all that in place you will be ready to complete all the legal paperwork and then make applications for registration, which may take several months to come through. Prepare to launch Then you will need to hire the staff you planned on earlier to handle training and support. You will need to train and support them before they are ready to meet franchisees.
You need to jointly develop training classes, and maybe e-learning modules to support that.
Now you need to begin marketing and selling your franchises. Perhaps you will do that yourself, or use an agency, or hire someone. You may consider a referral system for existing franchisees, with a financial reward if they introduce interested parties to you who go ahead with a franchise.
Then you need to launch the training and support programme. This is a very important milestone, the success of the programme depends on this, and making sure the brand provides a uniform experience to customers. Remember that new employees will have to be trained, and it is important to train each one correctly.Sep 10, · The Atlanta Business Chronicle features local business news about Atlanta.
We also provide tools to help business' grow, network and hire. Franchise Growth Partners will assist you in the development of a high level Strategic Plan, your Tactical Business Operations Plan detailing your day-to-day activities of training and supporting franchisees, and a Financial Plan calculating the initial and ongoing costs of marketing, selling, and operating a profitable franchise company.
Sample Franchise Agreement Format Contract number, registration date, details of the franchiser and details of the franchise are the some important part that needs to be included in the format. This is a detailed format where everything is written in a clear manner.
There are many franchise directories you can choose from. Our franchise directory strives to list every single franchise available on Planet Earth. Unlike most franchise directories, we . Franchise business plan The business plan has two main purposes - obtaining finance from the bank and clarifying your aims and objectives.
Here we look at the importance of the business plan and what should be included in it. 17 Business Plan Examples in PDF Any individual wanting to start a business are commonly faced with the dilemma of creating business plan. To most this may seem as quite a daunting task and to some a necessity in preparation for a business and the actual running of the business.