{"id":4867,"date":"2021-02-03T23:25:31","date_gmt":"2021-02-04T07:25:31","guid":{"rendered":"https:\/\/www.bsbcon.com\/blog\/how-to-write-a-franchise-business-plan\/"},"modified":"2023-02-16T09:33:06","modified_gmt":"2023-02-16T17:33:06","slug":"how-to-write-a-franchise-business-plan","status":"publish","type":"post","link":"https:\/\/www.bsbcon.com\/us\/blog\/how-to-write-a-franchise-business-plan\/","title":{"rendered":"How to Write a Franchise Business Plan"},"content":{"rendered":"

Choosing to open a franchise is a proven path to success.\u00a0 Although the problem most people have is raising the initial capital to buy the franchise, and for the necessary startup costs.\u00a0 In this article I\u2019ll explain how to write a franchise business plan, and what lenders want addressed in order to have the confidence to loan you money.<\/p>\n

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Choosing a Franchise<\/strong><\/h2>\n

You\u2019ve most likely already chosen a franchise, but if you haven\u2019t this section will point you in the right direction.\u00a0 When you think about opening a franchise the first thing that probably comes to mind are quick-service food franchises such as McDonalds, Tim Hortons or Subway.\u00a0 Although, chances are you\u2019ve decided on a more original choice.<\/p>\n

Franchises can be in industries including food, retail, cleaning, real estate, travel, automotive, education, hospitality, accounting, fitness, beauty, property services and more.\u00a0 For more help on choosing the right franchise you can visit this article.<\/p>\n

https:\/\/www.businessnewsdaily.com\/1783-choosing-franchise.html<\/a><\/p>\n

But remember that investing in franchise is a serious decision, which requires a lot of time and money.\u00a0 Do your best to choose a franchise that you truly believe in and support.\u00a0 If you\u2019re passionate about something you are so much more likely to be successful with it, and owning a franchise isn\u2019t any different.<\/p>\n

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How to Design a Franchise Business Plan<\/strong><\/h2>\n

Before we begin I want to talk about how a franchise business plan should look.\u00a0 Unless there\u2019s any stipulations, you want to utilize the exact logo, branding, colour scheme and font of the franchise you\u2019re looking to purchase.\u00a0 Some business plans maintain a more conventional look with strictly text, where other plans feature visuals to help the audience digest the content in other ways.\u00a0 To see how a business plan with graphic design can look, view one of our samples here.<\/p>\n

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Executive Summary<\/strong><\/h3>\n

Begin your executive summary by explaining the present opportunity in the marketplace.\u00a0 There should be plenty of data to support this decision.<\/p>\n

For example, if you were planning to open a Starbucks at a busy corner in downtown Toronto, and there were five other coffee shops within a fifty metre distance, you would need to provide the market research to prove a demand for your Starbucks franchise. \u00a0No matter who you are, or how reputable your franchise is, you should always provide strong market research to support this expansion of the core business.<\/p>\n

Next, think of your executive summary as the blurb at the back of a novel.\u00a0 Providing enough information to hook you into reading the rest of the business plan, but not so much that it tells the entire story.\u00a0 Utilize key, overriding themes from each segment of your franchise business plan.<\/p>\n

This is why most business plan experts recommend writing your executive summary last, to extract a key point from each section.\u00a0 We say the opposite: write your executive summary first, so you have something to reference to, and when your plan is complete revisit the executive summary to update it.<\/p>\n

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Franchise Overview<\/strong><\/h3>\n

Immediately after your executive summary it\u2019s time to sell your audience on the franchise itself.\u00a0\u00a0 Things you should include in the franchise overview are:<\/p>\n