A BUSINESS PLAN FOR YOUR FRANCHISE

Mon, Nov 1, 2010

BY POPULAR DEMAND!!

What would you give to have a new neighbor move in next door who knew everything you need to know about finding the best franchise for you? Suppose this new friend had recently retired and, therefore, had plenty of time on his hands and was willing to answer any questions you might have, any time–night or day. Could you imagine all this assistance available for the cost of dinner for two?

Well, The Franchise Doctor isn’t planning to move, retire, or clone himself but he has done the next best thing–he’s completed his long awaited ebook, “Insider’s Secrets to Buying a Franchise.”

For your convenience, it’s been developed electronically with dozens of links connecting each chapter to the Table of Contents. You can search on any topic you choose and there’s a dozen hyperlinks to hidden pages on The Franchise Doctor’s website. These pages will be updated regularly to ensure that this critical information doesn’t grow stale with age. In addition, the book contains explicit, step-by-step instructions on how to perform your own Franchise Review. This will guarantee that you’re not making an error in your investment and it will help you get bankers, the SBA or investors on your team.

While there’s not a new doctor moving in next door, The Franchise Doctor’s ebook, Insider’s Secrets to Buying a Franchise can be residing on your computer’s hard drive before lunch tomorrow. This 120+ page ebook (formatted to be printed on 8 ½ by 11 paper on your desktop) contains extensive information gleaned from the Doctor’s 30 year career serving the small business and franchise communities.

Follow this link to explore Insider’s Secrets further. http://www.franchisedoc.com/insidersbook/InsiderBook.html

WHEN SHOULD YOU START YOUR SEARCH?

At one of the recent speaking engagements of The Franchise Doctor, 40+ franchise executives were polled, and all confirmed that the first quarter of each year still yields the greatest number of franchise buyer inquiries. This occurs as a result of New Year’s Resolutions, disappointing year-end bonuses, others being unfairly promoted and a variety of motivations too long to list.

How does this impact you? If you plan to open a franchise in the next 6 to 12 months, you should get your search going NOW! Many people spend 3 to 6 months researching and reaching a decision. Then, it may take 2 to 9 months to open your venture. A late beginning will mean a late start for your venture. Another problem would be to reach a decision on the best system for you, only to learn that your preferred geographical territory has been sold! To prevent this, in most systems, you could make your decision, sign a license, and postpone opening your franchise for 3 to 12 months, if that is most appropriate to your personal needs.

If you’re really sincere about owning a business of your own in the next couple of years, its time to make a serious commitment to research the industry, the many systems, the risks and the benefits now.

BUYING, EXPANDING, or SELLING YOUR FRANCHISE?

Then you should have a business plan!

Business plans are the method by which an entrepreneur’s concept, strategy, and method of conducting business are communicated to others. It is the document most often used to interest a potential investor or to secure a bank loan. It describes where a company is going, how it should get there, and what it will look like when it arrives. If you are buying a franchise, few bankers or investors will treat you seriously until you present a well-written business plan If you’re selling, then the buyer may need a business plan for purchase-money financing.

The writing challenge is to quickly pique interest while simultaneously providing vital information. Some investors and bankers literally receive hundreds of business plans each year – mostly unsolicited. Even the very best plan does not get you any money, but can get you an audience.

The plan should follow an outline format, starting with an Executive Summary, which is a one to three page overview of the venture, and ending with details of financial and personal information. The summary should be written to persuade the reader to study the complete plan. It must briefly describe your business concept, your current situation, the key factors that have contributed to your success and those that will continue your success. The plan must define your financing needs, how you will spend the money, and of course, how any debt will be repaid, or the equity investment returned.

Because a business plan can be a formidable job to undertake, you may want to employ a business plan writer that specializes in business plans for financing.

OPPORTUNITY UPDATE

If you haven’t been to our website lately, you need to stop by to review the latest list of our recommended franchise systems. Click on the Review Great Franchises link below.

FUTURE NEWS

As a result of requests from several highly successful networks, The Franchise Doctor has agreed to launch a major new service: helping existing franchise owners sell their units. The new, Franchise Resale Program has already been tested and two outstanding franchise systems have signed on. If you’ve ever worried about the lack of revenues in starting a new franchise, this service will help you connect with a franchise owner ready to retire or seek another opportunity.

Watch your email for an announcement about our launch in mid-December.

The Franchise Doctor welcomes your comments: Click Here to Send us an Email or Call: 800-220-8256