FRANCHISING BUSINESS PLAN

[Audio] FRANCHISING BUSINESS PLAN. Text, letter Description automatically generated.

[Audio] WHAT IS FRANCHISE BUSINESS? Franchise business is a process through which an independent business owner can achieve the right or authority to use a successful brand name..

[Audio] OPERATIONS COSTS OF A FRANCHISE. OPERATIONS COSTS OF A FRANCHISE.

[Audio] START-UP COSTS – COSTS ASSOCIATED WITH BEGINNING A BUSINESS INLCUDE THE COSTS OF THE RENTING A FACILITY, EQUIPPING THE OUTLET, AND PURCHASING INVENTORY INITIAL FRANCHISE FEE – FEE THE FRANCHISE OWNERS PAYS IN RETURN FOR THE RIGHT TO RUN THE FRANCHISE.

[Audio] TYPE OF FRANCHISE 3 MAIN TYPES OF FRANCHISE Product Distribution Franchise Business Format Franchise Management Franchise.

[Audio] Famous examples. i'CtC. FAMOUS EXAMPLES.

[Audio] KFC STARBUCKS MANG INASAL ANDOKS RED RIBBON MCDONALDS.

[Audio] ADVANTAGES OF OWNING A FRANCHISE Franchises offer the independence of small business ownership supported by the benefits of a big business network Franchises often have an established reputation and image, proven management and work practices, access to national advertising and ongoing support Franchises have a higher rate of success than start-up businesses..

[Audio] DISADVANTAGES OF OWNING A FRANCHISE Buying a franchise means entering into a formal agreement with your franchisor There are usually restrictions on where you operate, the products you sell and the suppliers you use. Franchise agreements dictate how you run the business, so there may be little room for creativity..

[Audio] RECOMMENDATIONS. 9MNNY1å 8-. RECOMMENDATIONS.

[Audio] Marketing Plan and Sales Plan This section of your franchise business plan highlights your business's strategy for building and maintaining a customer base and demand for your business. Thoroughly explain how you plan to advertise, your current advertising, and the research behind your strategy. You can use the information from the required franchise training, which is the detailed information stated in Item 11 of the FDD or Franchise Disclosure Document..

[Audio] CONCLUSION. 9MNNY1å 8-. CONCLUSION.

[Audio] A franchise business plan is a critical piece in accessing capital. Apart from your personal savings, you can get funding for your franchise business plan through these sources For example Bank financing SBA loans Franchisor financing programs.

[Audio] That's all in my presentation thank you for listening..