FRANCHISING 101
A Franchise Business Plan
Your Roadmap to Success
A franchise business plan is a written document that outlines your business goals, strategies, and financial projections. It is an essential tool for any franchisee, as it can help you secure funding, attract investors, and make informed decisions about your business.
A well-written franchise business plan should include the following sections:
Executive Summary
This section provides a high-level overview of your business, including your mission statement, products or services, target market, and business goals.
Company Overview
This section provides a more detailed look at your business, including its history, franchise business model, ownership structure, and management team.
Industry Analysis
This section provides an overview of the industry in which your franchise will operate, including its size, growth potential, and competitive landscape.
Market Analysis
This section identifies your target market and analyzes its size, demographics, and buying habits.
Marketing Plan
This section outlines your strategies for reaching your target market and generating sales.
Operations Plan
This section describes how your business will operate on a day-to-day basis, including its staffing, inventory, and supply chain management.
Financial Plan
This section provides detailed financial projections for your business, including start-up costs, operating expenses, and revenue.
Creating a franchise business plan can be a daunting task, but it is an essential step in the process of starting or growing a franchise business. By taking the time to carefully craft a well-written plan, you can increase your chances of success and achieve your business goals.
Sparrow provides a complete franchise business plan
At Sparrow Franchising, we not only know the importance of this part of franchising, we love doing it. That’s not the case with other franchise consultants or experts. In short, Sparrow provides all the materials you need to not only be franchise ready, but to actually sell and open your franchises with new owners. Having this done as one complete service doesn’t just save you time and effort bouncing from one company to the next to get franchised, it is the reason we are the most affordable way for you to franchise.
Need something specific?
Let’s Talk
While we can be your all-in-one stop for everything you need to franchise, we can also help out case by case with one specific part of the process – such as creating a franchise business plan. Contact us today for a FREE consultation.
The basics of how to franchise
FRANCHISING 101
This is the first stage of the process and an important one. You are learning the basics and making sure your business is even franchisable.
Here are five of the most frequently asked questions with the answers you need to know. We offer a free consultation and no question is off the table.
What is a Franchise?
At its most basic level, franchising is simply a specific form of distribution for goods and services. But that’s a pretty generic and wholly unhelpful definition. So let's dig a little deeper...
Why should you Franchise?
With other expansion options available, how do you know if franchising is the right way to expand your business?
Alternatives to Franchising
There are other options to expanding your business other than franchising.
Is my business Franchisable?
You have a successful business and you’ve decided you want to franchise it. How do you know if your business would make a good franchise system?
How to Franchise a business
A good franchisor should train, guide and support a franchisee in every aspect of their business. That means a good franchisor’s training and support infrastructure will never stop expanding and evolving. But, when you start, here are the 6 foundational pillars you’ll need to legitimately consider yourself ready to franchise.
Some other helpful resources
Here’s a few very helpful links that help you understand the path and process of how to franchise a business.
This Guide is provided by The Federal Trade Commission, the nation’s consumer protection agency, to help you decide if buying a franchise is right for you. It also explains how to use the disclosure document that franchisors must provide. This is just one of the many documents Sparrow delivers for our clients.
The SBA Franchise Directory contains all franchise and other brands eligible for SBA financial assistance. The Directory will only include business models that are reviewed and found eligible under SBA’s affiliation rules and other eligibility criteria. Another big step in the process that Sparrow delivers for our clients.
SCORE’s business mentors and tools can help you start, grow, or transition your business to a franchise. While they don’t actually do what we do and can’t actually franchise your business, they can be a great resource for making sure you, and we, do it right. SCORE is available to you no matter where you are in your business lifecycle.
