Tips how to write a franchise business plan
- Nick Strong – Franchise recruitment advisor
The leading franchise banks have all declared in recent British Franchise Association (BFA) meetings, I have attended, that they have money to lend to franchise business.
In addition the banks are making much use of the governments Enterprise Finance Guarantee (EFG) scheme. The EFG is designed to provide government underwriting of small business development funding up to £1,000,000.
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Careful research of the franchise of choice
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Clear understanding and concordance with the franchise contract
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In-depth local market analysis by the prospective or exiting local franchise owner
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Local competitor analysis and how that may affect sales and profit predictions
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Declaration of available investment capital
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Personal assets to use as security against the loan
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A good credit history with no CCJ’s
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A commitment to follow the franchisor’s proven system
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Backing from your family in the commitment of franchise business building
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The bank recognise your chosen franchise as efficient and effective from its own indpendent research.
Against the above items the bank will decide the level of funding it will provide to the business builder.
Visit the following links for free business planning software -
http://www.hsbc.co.uk/1/2/business/info/resources
http://www.rbs.co.uk/business/banking/g2/planning.ashx
Visit – www.SelectYourFranchise.com and www.Franchises.UK.com for information about franchises for sale in the UK.
Franchise business plan inclusions
Tags: banks, business plan, enterprise finance guarantee, franchise business, nick strong
September 7th, 2009 at 6:49 am
it is so informative post.
yes it is good thing to make a road map for any kind of business but once you make business plan you should change it according to market. always follow the demand and supply role.
Thanks