STARTUP - FRANCHISE
Creating a business plan is one of the most important steps you will take, because the plan serves as your road map for the early years of your business.
The business plan generally projects 3-5 years ahead and outlines the route a company intends to take to reach its yearly milestones, including revenue projections.
A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making on a regular basis.
We can help you to have a successful roadmap to start your new venture.
Creating a business plan doesn't have to be complicated.
The key is compiling the proper information to allay the reservations of the lenders you will meet with.
This is where opening a franchised business offers a notable advantage over an independent business.
The Franchise Disclosure Document (FDD) provided by the franchisor of the system you are investing in, contains a great deal of the information needed to complete a business plan.
This information includes the company’s corporate background, a description of the target market, the competitive advantage of the product/service, marketing initiatives, plus the start-up and ongoing costs. Some franchisors even offer assistance to franchisees in the preparation of the plan.
There is no standardized length for a business plan, but no lender wants to read a novel-length presentation. The main thing is that the plan is thorough enough to cover all aspects of your franchise plan. You want to give the lender confidence that you are prepared to take on the managing of a business that will turn a profit in a reasonable amount of time.
We can help you to get the right business plan.