How To Prepare A Franchisee Business Plan

What is franchise? A franchise business is a system a company uses to share out its

products or services through retail outlets owned by independent individuals or group, third party operators. The independent operator does business using the marketing methods, trademarked goods and services and the "goodwill" and name recognition developed by the company.

If you buy any franchisee then you have certain advantage over new business. But think that in franchise business you have right to use company goodwill but they do not tell you how to run and manage your business. Yes they have some techniques but you have to make your own techniques. That is why you need a unique franchise business plan.

A business plan is a success blueprint of any business not a financial plan. First of all you need to gather following information for your plan:

Work experience in franchisee market.

Complete information about Franchisor, franchisors history, literature, network, support system, financial status and their plans.

Latest franchisee related business information from industry.

Market information of business and other business.

Legal information like permission, licenses etc.

Your business location according to your business like Visibility, access, parking, competition etc.

Now you can move on to your business plan. Firstly, an introduction to your business plan should create. It is not an executive summary. It talks about some key points of the business. Whereby the summary is extra detail oriented about the company and the business.

Management and human resource section of a business plan is important for franchisee business. In this section education and training of staff that will run the employ work together as a team.

Another section is marketing section where you can look to rival franchisee competitors. Marketing analysis, competitor analysis discuss in marketing plan which is the part of business plan. Main focus of this section is how you will advertise and market the business

The main function of your franchisee business plan is to observe that you catch through this critical start-up era successfully. Your franchisor can help, but in the last analysis you must do it.

by: NaveenK1

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