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
same day cleaning service Des Plaines ..You know you need a business plan. You probably realize... Read More
Obviously, there will never be an actual water shortage since... Read More
Diversify - to make diverse, give variety, to balance, to... Read More
When someone mentions business planning we have been conditioned to... Read More
"Did you hear what your competitor is doing?" This question... Read More
Business planning is widely acknowledged as one of the keys... Read More
One of the most powerful driving forces in human nature... Read More
The first step in starting a restaurant is proper planning.... Read More
This will make some people angry as hell, but it's... Read More
A significant advantage of some business ideas is that the... Read More
A focus group is a group of employees or current... Read More
One of the difficulties we face in our industrialized age... Read More
Anyone who has been watching the Idaho Market Carefully for... Read More
Microsoft Great Plains does wonderful ERP job for horizontal markets... Read More
Writing a business plan is an essential part of the... Read More
I. INTRODUCTIONThe term resilience, which is of frequent use in... Read More
One of the quintessential parts to any business is your... Read More
Note to Northwest Airlines ? It's not about fuel costsFor... Read More
Let us look at a few of the big distribution... Read More
Most companies that are worthy of raising venture capital have... Read More
Succession planning requires the owner of a small or medium-sized... Read More
Six Sigma is becoming a proven approach for businesses and... Read More
I've either been involved with or held a process-related role... Read More
A menu is the foundation of any restaurant; Guests will... Read More
Conventional wisdom has it that there are only three ways... Read More
home cleaning services Mundelein ..Does the competition drive you crazy?Are they relentless about taking... Read More
Remember reading "Alice in Wonderland?"She asks the Cheshire Cat, "which... Read More
How are you feeling today? Good, not so good, great?... Read More
Is there a 'magical' way to exponentially grow your business?It's... Read More
"Rubbish!" shouted the large, aggressive man in the red-striped shirt... Read More
Business plan financial projections seem daunting because they are so... Read More
You have heard that there is extra money on the... Read More
Many business start-up kits or consultants will tell you one... Read More
1. Attempt Succession Planning Without Other Strategic Plans. Succession plans... Read More
Note to Rite Aid and CVS: It's not about the... Read More
Many of us are discouraged by the networking events that... Read More
I read once that something like 30 percent of all... Read More
I am surprised how few sales professionals, independent consultants, and... Read More
In 1997, David Steele was making the transition from a... Read More
While writing an article recently on effective ways to bridge... Read More
Have you been in a "brainstorming" session where each person... Read More
Possibly THE most frequently asked question of me is "What... Read More
Most companies that are worthy of raising venture capital have... Read More
Why cut costs now? Efforts are multiplying to cut costs... Read More
Have you ever done a SWOT analysis? No, it's not... Read More
Why do so many companies languish and watch as their... Read More
Business seems to drop, slow or even stop during the... Read More
Remember Chux? The disposable diaper that took the market by... Read More
It's easy to lose sight of what needs to be... Read More
A strategic alliance is when two or more businesses join... Read More
Strategic Planning |