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
monthly home cleaning Buffalo Grove ..Too much goal setting and strategic planning can leave you... Read More
The time when a website was just a simple set... Read More
Microsoft Great Plains does wonderful ERP job for horizontal markets... Read More
Writing a business plan to help you direct and manage... Read More
While writing an article recently on effective ways to bridge... Read More
Writing a business plan for a franchised outlet of a... Read More
Remember reading "Alice in Wonderland?"She asks the Cheshire Cat, "which... Read More
If you are a successful franchise of a large franchise... Read More
If you've ever listened to Warren Buffett talk about investing,... Read More
I've either been involved with or held a process-related role... Read More
One of the most powerful driving forces in human nature... Read More
With the help of balanced scorecard strategy map, it is... Read More
If you own a mobile car wash business or auto... Read More
If you're a solo professional like I am, you know... Read More
No matter what business you plan to start in your... Read More
Possibly THE most frequently asked question of me is "What... Read More
Ask a small business owner about their strategic plan and... Read More
One of the most important initiatives in the domain of... Read More
Why do so many companies languish and watch as their... Read More
If you own a pressure washing business one of the... Read More
Strategic alliances are increasing at a rapid rate. It is... Read More
Note to Northwest Airlines ? It's not about fuel costsFor... Read More
Many of Ohio's downtown areas are in need of upgrading... Read More
One of the key challenges for any business is to... Read More
"Rubbish!" shouted the large, aggressive man in the red-striped shirt... Read More
scheduled maid service Mundelein ..Creativity is one of the greatest tools for success in... Read More
When looking at Akron carefully one cannot help but notice... Read More
I am surprised how few sales professionals, independent consultants, and... Read More
Strategic alliances are increasing at a rapid rate. It is... Read More
If you are looking for a partner, funding, angle investor... Read More
Whether you are seeking capital for your company or are... Read More
The time when a website was just a simple set... Read More
"Begin with the end in mind," says Stephen Covey in... Read More
We all agree Strategic Planning is a critical part of... Read More
Franchised companies often require what some believe to be excessive... Read More
One of the difficulties we face in our industrialized age... Read More
Ask a small business owner about their strategic plan and... Read More
I. INTRODUCTIONThe term resilience, which is of frequent use in... Read More
Many business start-up kits or consultants will tell you one... 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
Business plan financial projections seem daunting because they are so... Read More
Succession planning, like any business acumen, is both an art... Read More
Note to Northwest Airlines ? It's not about fuel costsFor... Read More
Writing a business plan is no easy task, sure you... Read More
"Most great plans aren't. They are just nice, high-level ideas."That's... Read More
"Bozo" ? A clown with a forlorn look, always finding... Read More
Note to Rite Aid and CVS: It's not about the... Read More
Many very successful business owners may never have had a... Read More
The day you decide to take the plunge and work... Read More
Strategic Planning |