If you own a mobile franchise business and wish to expand you will need to have a strategy that involves your franchisor. Additionally if you are a franchisor it is important to have some sort of policy in place in advance so that there are no hurt feelings as franchisees expand.
Our company has such a policy but as per our franchisee survey less than 20% of the franchisors who participated in the Franchising.org had such a policy. I recommend that if you are a franchisee or franchisor that you take this outline below and modify it to fit your small business or franchising company and use it as a guideline for franchisee expansion decision-making. Go ahead and print this article and then sit down and modify it. Then for each number or lettered item write three or four paragraphs of what if scenarios. This will help assist in proper franchise outlet expansion while keeping peace in the franchise family. Additionally it will insure smooth system wide expansion where everyone on the team knows what to expect. This outline has been made using our franchise business model for a mobile car wash business, but it serves as an excellent starting point.
FINANCING OF BUSINESS EXPANSION
I. APPROVAL FROM FRANCHISOR
A. Advanced Notice
B. Truck And Equipment Set Up
II. FINANCING
A. Borrowing
B. Leasing
C. Charging
D. Out Right Expense
III. APPROVAL OF CREDIT
A. Time
B. Documents
1. Profit And Loss
2. Tax Returns
3. Balance Sheets
4. Bank Statements
5. Credit Card (Balance Of Account)
IV. DELIVERY
A. Truck
B. Equipment
C. Paint
D. Signs
E. Check Out
V. FUNDING OF VENDORS
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.worldthinktank.net/wttbbs
bathroom cleaning service Northbrook ..GETTING STARTED WITH SUCCESSION PLANNING: PART IA survey of 4,300... Read More
Making money doesn't make your reputation... your reputation makes you... Read More
Business plan financial projections seem daunting because they are so... Read More
Storytelling and writing a business plan actually go hand in... Read More
If ever there were an industry where we want zero... Read More
These may sound like no brainers, but you'd be surprised.... Read More
Where would your business be without a proper plan? A... Read More
One of the most important initiatives in the domain of... Read More
When someone mentions business planning we have been conditioned to... Read More
It's easy to lose sight of what needs to be... Read More
1. Largest Selection -One way that you can make your... Read More
What gets measured gets done.How do you keep your business... Read More
The day you decide to take the plunge and work... Read More
How often does your company make a quantum leap forward?... Read More
How you finance the expansion of your business is important.... Read More
Diversify - to make diverse, give variety, to balance, to... Read More
The Accountability/Alignment Process: Three Steps to an Accountable Organization Generating... Read More
A recent conversation started with a typical question, "How's business?"... Read More
We all know that nothing runs without a plan, and... Read More
We have been spending many hours surveying the market for... Read More
Many very successful business owners may never have had a... Read More
You have invested a lot of time and energy on... Read More
Richard L. Daft one of the country's recognized academic leadership... Read More
American Eagle Outfitters and Wet Seal Stores have issued statements... Read More
A strategic alliance is when two or more businesses join... Read More
insured cleaning company Wilmette ..Cassy was an employee of a nonprofit who had been... Read More
Note to Northwest Airlines ? It's not about fuel costsFor... Read More
Business rises and falls on leadership. According to business guru,... Read More
One of the most important initiatives in the domain of... Read More
A significant advantage of some business ideas is that the... Read More
Microsoft Great Plains does wonderful ERP job for horizontal markets... Read More
In 1989, Sony founded its Institute of Wisdom at the... Read More
I read once that something like 30 percent of all... Read More
If ever there were an industry where we want zero... Read More
Many movies have been made about the tragic story of... Read More
In most business plans, no matter how striking the idea,... Read More
In today's rapidly changing and highly competitive markets, many privately... Read More
"I don't need a business plan."Neither did Alice in Wonderland."Would... Read More
These may sound like no brainers, but you'd be surprised.... Read More
Would you like to jumpstart your online or offline business... Read More
American Eagle Outfitters and Wet Seal Stores have issued statements... Read More
No "meme" isn't a typo and Got Milk, the more... Read More
GETTING STARTED WITH SUCCESSION PLANNING: PART IA survey of 4,300... Read More
Richard L. Daft one of the country's recognized academic leadership... Read More
One Research Scientist at the Hewlett-Packard (HP) Imaging Systems laboratory... Read More
A recent conversation started with a typical question, "How's business?"... 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
Six Sigma is becoming a proven approach for businesses and... Read More
In 1997, David Steele was making the transition from a... Read More
Strategic Planning |