How to Create a Franchise Business Plan

Many people opt for franchise businesses nowadays. The advantage of opening one is having the guarantee of a branded product to back you up. The proven market popularity is something which reduces some of your anxiety regarding promotion of a new product. Presently, most product companies prefer opening franchise outlets and leave the management to private parties on a profit-sharing basis. A franchise is a mutual, win-win solution for the product company, as well as the franchisee. The management gets the benefit of a proven brand name and the company saves on operation and setup costs.

About the Plan

Firstly, a business plan is a blueprint of everything that you plan to do in a business. It is the practical realization of your abstract idea of a business, considering all ground realities. It is a plan of action, which is designed after market research, operation cost evaluation, and after a decision to start up that business, has been taken.

Such a plan is made with two intentions. One of them is to have a clear and precise idea of what you intend to do in your business and the second is to sell your idea to entities that could finance your venture. Financial planning is the most important part.

Franchise opportunities are often advertised in newspapers. Business plans related to them, need to be written carefully. This is because, not only is it your blueprint for execution of business activity, but it is also an advertisement of your idea, which you hope to sell a financier, to get seed capital.

How well your business will run, depends on how well you plan and execute it. Leave no stone unturned, while preparing the groundwork for your business. The more specific, detailed, and adaptable business plan you have, more are its chances of success.

Making a plan is comparatively easier as you already have guidelines from a franchiser, about how he expects the business to be run. The possibility of innovation is really very less in case of this plan, as the franchiser usually dictates the designing, look, and operation of a business place. Usually, all these franchise outlets are clones and all that a franchise owner can decide is the location and scale of operation.

Tips on Creating a Plan

Writing a business plan proposal is an art. Let us discuss, what constitutes a good plan and what it should include, section wise.

Introduction to Your Idea
The first part will be a general introduction to the product that you plan to sell, its market popularity, challenges, and risks involved in the endeavor. This should also include the profit sharing ratio, that you will have with the franchiser.

Management Information
This will involve information about the planned chain of command in your business and the management hierarchy. It may also involve the names and designations of the pre-appointed people in the management, along with their work experience details.

Marketing
This will obviously involve the details of how you plan to entice customers for your product. Give a detailed plan of your marketing strategies, target customers, and budget.

Pro Forma Financial Projections
This is the projected performance of your business, which is based upon your market research and it’s extrapolated out of it. This should be a detailed report of expected income, profit, turnover, and operating cost. It should be a sort of future expected balance sheet, based on actual market data and research. You must back up your income projections, with real market data.

Finance Requirement
This part is for the financier, to whom you are selling your business idea. It should include a detailed analysis of the total cost of operation, marketing, salaries offered, purchasing, and other costs. You should come up with a definite amount of money, that you need and expect from the financier and should also include the profit sharing expectations.

Starting a business is one of the most exciting things you could choose to do. I wish you all the very best in your endeavor.

Aviation Business Plan

In order to realize the goal of starting your own airline and nurturing it through ups and downs, requires great deal of expertise and professional approach. Along with these, a sound financial backing, a highly capable and trustworthy set of individuals to manage various operations and other logistical support is a must. The beginning of a business plan itself signifies the dedication levels and the ability of the venture to rise in the competitive environment.

Aviation Business Development

‘Every great task or successful venture is achieved twice, once in the mind and once in the real world.’ This axiom illustrates the importance of a widely accepted and proven business tip, to have a sound and workable plan. A successful business venture, especially one as big as an aviation plan requires a ‘blueprint’, where the needs of the market, company’s projected position in the market, detailed working and marketing strategy and a viable back-up plan are chalked out.

If a survey of all the major corporations or businesses in the world is made, you will realize one common aspect. All these entities worked on an extremely workable and target oriented business plan. Some of the essential components of a well-thought aviation business plan are :

– The scope of the market
– Initial investment
– Carving your niche among existing business competition
– Financial requirements and scalability of project
– Marketing and associated support
– Large and trained personnel
– Raising Capital

Once you are ready with all these start-up requirements, the plan can be implemented with professional help. The National Business Aviation Association, Inc, is one such institution of aviation business groups which can help you in various matters. A sufficient business financing or a secured loan can be availed of, at relatively low interest rates and in case you are already into some other successful business operation, obtaining a big loan would be relatively easier.

The Extended Aviation Business Plan

The recruitment of people for areas like technological assistance, human resource management, finance professionals, the airline crew, the airplanes, locations to be served, flight operation and maintenance works, and so on, is the next major stage. These steps follow, once the foundation for the economic, legal, social, governmental and environmental clearances has been laid.

After you give a green signal to the start-up, the next crucial aspect is aviation business development. The sustainability of your venture, depends on how you serve the customers. ‘Customer is the king’, should be the guiding line for every ambitious and dedicated industry, especially the ones directly operating in the public domain.

It may be easy for many plans to start their operations, but the hallmark of a successful business is, the consistency of service. Good business becomes excellent, not by providing occasional good service, but by providing an undeterred and consistent service. Aviation business will also put you in many tight situations, where a lot of tight corners would have to be negotiated.

In such situations, your values and business ethics will come into play and can be a defining edge for your business. There may be several situations, where you might have to choose between what is right and what seems to be an easy way. At such times, always think with the long term perspective and make wise decisions.

At the end of the day, when you return from a hard day’s work, to face your near and dear, they should feel proud of your venture. The shine of a confident and morally sound business entrepreneur should glow in your eyes, so that you face the world with an ‘air’ of dignity.

Beauty Salon Business Plan

It’s pretty amazing to know that almost all the beauty salons have a very good business these days. The only reason is that people have become extra conscious about their appearance, and are willing to go that extra mile to make themselves more presentable. Hence, if you have a relevant expertise in this particular field, then you can surely think about getting into it professionally. Though it promises good returns, the competition is pretty tough. Hence, you must be prepared with a foolproof beauty salon business plan before you venture into this field. Some of the aspects that should be covered are given below.

Executive Summary

Executive summary is an abstract of the entire information in your plan. It includes the market analysis, strategies, competition, ideas, etc. Usually, it is short, of about 2 pages. It gives an idea about the entire plan at a single glance. It helps you to understand what the business is all about.

Company Description

Company description describes the entire functioning of the company. It includes everything about the company, the mission, goals, assets, etc. It also has an information about the start-up ideas and the objectives of the company. It may give a brief introduction of the founder members and the top management personnel.

Market Analysis

Market analysis is very important for any venture. It helps you to understand the scope of your work and its position in the market. It deals with the needs of the customers and what they expect from you. It also includes market research about the competitors. Hence, the market analysis should be properly done and expressed in accurate figures.

Marketing Strategies

Marketing strategies include the description of all the activities you are likely to adopt for marketing. It could be mouth publicity, advertisements in print or electronic media, hoardings, and billboards.

Workforce

Workforce defines the roles and responsibilities of each employee. It also states the qualifications required for each position. Workforce planning is an important aspect, as the employees are directly going to be responsible for customer satisfaction.

Financial Analysis

Financial analysis is another important aspect. It covers the cost of every unit in the business. It also mentions the prospects of returns. Financial analysis gives an overview of the total expenditure and the provisions to cover them.

A good business plan forms the back bone of any business. Even in this case, a sound idea is necessary for the smooth working. You may consult professional services for drafting one, or you may also refer to templates available on the Internet. It’s always a good idea to have a good idea ready before you start any new business, rather than starting it in a hurry and then later have to run around to get it going and profitable.