Writing a Business Plan these days is tough, venture capitalists are busy and there are so many ideas to choose from. Bankers want a tight, sweet and to the point business plan. Family Members who may lend you money are generally worrisome due to lawsuits and liability. This is why you need to pay particular attention to the Legal Section of your Business Plan.
Below is a sample legal section of a business plan written for a mobile car wash company, which is part of a franchise system. Now that is a truly simple business, but it serves also as a very good sample in that it is easy to follow. I recommend that you print this article and make notes in the margins about your own business concept and then modify this sample to fit your business. In doing so you can create a strategic plan and legal strategy, which can protect your assets and put your investors at ease.
- - - - - - - - - - - - - - - - - - - - - - - -
LEGAL STRATEGIES:
Licensing
All city and county licenses will be acquired and paid for by the franchisor as part of our turn-key franchise package. This will include:
City Business License
County Permits
Fictitious Business Name Statement
Home Occupation Permit
Soliciting Permit (If Applicable)
Regulations
There are presently some state requirements for discharging water into storm drains. These regulations are locally regulated and mandated as part of the Federal Clean Water Act. These regulations are now administered by California's Regional Water Quality Control Boards. They can be viewed in the California Water Code books under sections 13.260.1-13.263.4. Although cities cannot enforce the California Water Code, they can deny a business license application or a home occupation permit. Many counties have adopted "Best Management Practices" for wastewater run-off. Usually counties have chosen not to try to regulate mobile car washers or mobile detailers because they use biodegradable products, which are harmless to the environment and they are considered non-point source discharges. Nevertheless, some agencies feel it is in their power to protect themselves by simply denying everything that has a discharge.
The Car Wash Guys have received the only letter of exemption to section 13.260 of the California Water Code from the chairman of a regional board. This was a major accomplishment for the founder of Car Wash Guys International, Inc. after a three year legal battle started in 1990.
Insurance
As specified in the Franchise Offering Circular, we must maintain certain insurance policies. The standards and specifications of these policies are set forth in our borrowed copy of the confidential operations manual. These policies include the following limits of liability and comprehensive coverages:
1) Comprehensive General Liability Insurance in the amount of $1,000,000 bodily injury per occurrence and $500,000 property damage
2) Vehicle Insurance in the amount of $1,000,000 single limit, including comprehensive and collision
3) Worker's Compensation and Employer's Liability Insurance
4) Equipment Insurance for the value of all The Car Wash Guys equipment
Our franchisor will help us secure this insurance and will make the initial monthly payment to start the policies. As per our Franchise Agreement, our franchisor will be named as additionally insured.
We expect to pay between $250.00-$500.00 per month for this coverage the first year. We don't expect any claims so our insurance will drastically be reduced at the end of our first year. Claims in our industry are very rare.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.worldthinktank.net/wttbbs
rental limo Atlanta .. Lockport Chicago limo O’HareHere is an abstract thought on studying nature and the... Read More
The format of a Business Plan is something that has... Read More
Microsoft Great Plains does wonderful ERP job for horizontal markets... Read More
If you own a mobile car wash business or auto... Read More
Is there a 'magical' way to exponentially grow your business?It's... Read More
As fast as you can say business disaster, your business... Read More
More than $117 billion passed hands from Internet shoppers to... Read More
Businesses tend to avoid doing their annual business plan thinking... Read More
If you own a mobile franchise business and wish to... Read More
How important is a vision statement to your company or... Read More
There are no "rules of thumb" in the pursuit of... Read More
Growing your own small business can be one of the... Read More
"I don't need a business plan."Neither did Alice in Wonderland."Would... Read More
Most companies that are worthy of raising venture capital have... Read More
Writing a business plan is not an easy endeavor, nor... Read More
Many cities have home pages on the Internet. Many of... Read More
The day you decide to take the plunge and work... Read More
So what makes a vision successful? Everyday companies try to... Read More
One of the key challenges for any business is to... Read More
If you're a solo professional like I am, you know... Read More
Mobile auto detailing equipment becomes very inexpensive around March each... Read More
"Rubbish!" shouted the large, aggressive man in the red-striped shirt... Read More
Six Sigma is becoming a proven approach for businesses and... Read More
There is so much small business information available today that... Read More
Many business start-up kits or consultants will tell you one... Read More
Bedford Park taxi to Midway ..A focus group is a group of employees or current... Read More
Writing a business plan for a franchised outlet of a... Read More
If you are a successful franchise of a large franchise... Read More
Most companies that are worthy of raising venture capital have... Read More
Writing a business plan is an essential part of the... Read More
Business plan financial projections seem daunting because they are so... Read More
I read once that something like 30 percent of all... Read More
No matter what product or service you provide you will... Read More
While writing an article recently on effective ways to bridge... Read More
Possibly THE most frequently asked question of me is "What... Read More
Before becoming a netpreneaur, I was an entrepreneur. First, I... Read More
A well known, national chain of restaurants discovered that certain... Read More
Running a business, whether it be an offline multi-billion dollar... Read More
When developing the competition section of your business plan, companies... Read More
Canada's lean leaders need to look beyond the horizon and... Read More
The decision to sell, or not to sell your business... Read More
One Research Scientist at the Hewlett-Packard (HP) Imaging Systems laboratory... Read More
Note to Rite Aid and CVS: It's not about the... Read More
Ask Yourself three simple questions that affect your strategy planning...... Read More
The current state of the available technology at the disposal... Read More
Microsoft Great Plains fits horizontal markets clientele and in case... Read More
Private equity firms have raised so much capital over the... Read More
Every new business owner knows that a business plan is... Read More
To Grow (Catapult) Your Business That's Why.When it's in your... Read More
If ever there were an industry where we want zero... Read More
Strategic Planning |