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
no-contract cleaning service Glenview ..The University of Exeter in the United Kingdom recently published... Read More
Microsoft Great Plains, former Great Plains Dynamics is excellent fit... Read More
Have you been in a "brainstorming" session where each person... Read More
One Research Scientist at the Hewlett-Packard (HP) Imaging Systems laboratory... Read More
The new check cashing instant clearing will take some time... Read More
Mobile auto detailing equipment becomes very inexpensive around March each... Read More
ACTION PLANNING: Action Planning is a process to develop strategies... Read More
How are you feeling today? Good, not so good, great?... Read More
Fun From The StartFor those with the will to start... Read More
We all know that nothing runs without a plan, and... Read More
One of the key challenges for any business is to... Read More
Writing a business plan can be tricky when all the... Read More
In 1989, Sony founded its Institute of Wisdom at the... Read More
Writing a business plan to help you direct and manage... Read More
Six Sigma is becoming a proven approach for businesses and... Read More
Franchised companies often require what some believe to be excessive... Read More
After 128 years of business, a household word, Montgomery Wards,... Read More
Does the competition drive you crazy?Are they relentless about taking... Read More
I read once that something like 30 percent of all... Read More
It's easy to lose sight of what needs to be... Read More
In today's rapidly changing and highly competitive markets, many privately... Read More
Business seems to drop, slow or even stop during the... Read More
Business planning is widely acknowledged as one of the keys... Read More
Business owners and entrepreneurs are, by nature, risk takers and... Read More
To stop a computer virus you must understand how it... Read More
house cleaning company Glencoe ..From time to time there seems to be a flurry... Read More
One of the most important initiatives in the domain of... Read More
We have been spending many hours surveying the market for... Read More
Can you imagine going on a road trip without knowing... Read More
No "meme" isn't a typo and Got Milk, the more... Read More
Microsoft Great Plains fits horizontal markets clientele and in case... Read More
Canada's lean leaders need to look beyond the horizon and... Read More
Ask a small business owner about their strategic plan and... Read More
The current state of the available technology at the disposal... Read More
There are no "rules of thumb" in the pursuit of... Read More
Conventional wisdom has it that there are only three ways... Read More
When in doubt, cut that out! Yeah, yea, doubting Thomas... Read More
The time when a website was just a simple set... Read More
"Rubbish!" shouted the large, aggressive man in the red-striped shirt... Read More
With a heightened awareness of opportunity, ideas can often be... Read More
Many cities have home pages on the Internet. Many of... Read More
Q: A key investor in my business has suggested that... Read More
Making money doesn't make your reputation... your reputation makes you... Read More
I love the excitement of starting up a new home... Read More
One Research Scientist at the Hewlett-Packard (HP) Imaging Systems laboratory... Read More
Fun From The StartFor those with the will to start... Read More
Businesses tend to avoid doing their annual business plan thinking... Read More
Have you been in a "brainstorming" session where each person... Read More
What gets measured gets done.How do you keep your business... Read More
Ask Yourself three simple questions that affect your strategy planning...... Read More
Strategic Planning |