The information you submit via our enquiry form is shared only with the franchise business(es) that you have selected.

The franchise business will contact you by means of email and/ or telephone only to the email address and phone number you have provided.

By submitting the enquiry form you are consenting to send your personal information to the selected franchise business.

You also agree to receive further newsletter email marketing from What Franchise.

Close

Vital elements of an effective business plan

Vital elements of an effective business plan

Andy Brattesani, HSBC’s UK head of franchising, summarises the vital elements of an effective business plan

You’ve carried out your research, visited an exhibition, spoken with franchisors and franchisees and sought professional advice from consultants and solicitors. What do you do next?

It’s time to develop a business plan - your route map to future success and a document that will help you secure finance.

Don’t be daunted

Many potential franchisees are daunted by the prospect of compiling a business plan, but it should not be an intimidating process. Taking time to complete it before you start your franchise will help you think methodically and develop and sharpen your ideas about your business.

What are the key elements you’ll need to consider when preparing your plan?

 

  • Business description. Details of the franchise being purchased and the financial needs.
  •  

  • Market analysis. Research and identify local competition and assess what the likely demand of the product or service will be in the specific region.
  •  

  • Market strategy. Outline intentions for marketing the product or service and how the sales figures shown in the projections will be generated.
  •  

  • Management plan. Include details of the type of business (eg, sole trader, limited company) and outline the structure and key skills of the management team and staff.
  •  

  • Financial data. At least two years of projected figures are required, including a balance sheet, cash flow and profit and loss statement.

It’s important projections correspond with the information outlined in your business plan and that they’re realistic. If you’re considering investing in a resale franchise, include details of the existing business being sold.

A copy of previous years’ accounts should also be included. Be confident about your figures and memorise any vital facts about the business.

 

  • SWOT analysis. A one-page analysis of strengths, weaknesses, opportunities and threats.
  • Strengths could include the brand name, quality of product or management. Weaknesses might be a lack of finance or dependency on a few customers.

    Opportunities could be increasing demand or a competitor going bankrupt. Threats might be a downturn in the economy or a new competitor.

     

    Fundamental rules

    To summarise, here are our fundamental rules for writing a business plan:

     

    Do:

     

    • Think about the purpose of the business plan before you write it.
    • Focus on the key information the reader will want.
    • Highlight future plans, as well as describing the current situation.
    • Be realistic.

     

    Don’t:

     

    Exciting Franchise Opportunities

    Fun Fest for Children logo

    Start your own Fun Fest for Children franchise

    Profit Chart
    Funding Support Available ? Help is available. Check out our franchising funds guide.

    Yes

    Find Out More
    Expected Revenue After 2 Years

    From £30,000

    Request Free Information
    Find Out More
    Fun Fest for Children logo

    Request Free Information

    Send a free enquiry to Fun Fest for Children for further information!

    By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
    Drivalia logo

    Start your own Drivalia franchise

    Profit Chart
    Funding Support Available ? Help is available. Check out our franchising funds guide.

    Yes

    Find Out More
    Expected Revenue After 2 Years

    N/A

    Request Free Information
    Find Out More
    Drivalia logo

    Request Free Information

    Send a free enquiry to Drivalia for further information!

    By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
    Dyno-Rod Drains logo

    Start your own Dyno-Rod Drains franchise

    Profit Chart
    Funding Support Available ? Help is available. Check out our franchising funds guide.

    Yes

    Find Out More
    Expected Revenue After 2 Years

    Variable

    Request Free Information
    Find Out More
    Dyno-Rod Drains logo

    Request Free Information

    Send a free enquiry to Dyno-Rod Drains for further information!

    By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
    Chop & Wok logo

    Start your own Chop & Wok franchise

    Profit Chart
    Funding Support Available ? Help is available. Check out our franchising funds guide.

    Yes

    Find Out More
    Expected Revenue After 2 Years

    Profit between 27 to 33% of turnover

    Request Free Information
    Find Out More
    Chop & Wok logo

    Request Free Information

    Send a free enquiry to Chop & Wok for further information!

    By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
    You Me Sushi logo

    Start your own You Me Sushi franchise

    Profit Chart
    Funding Support Available ? Help is available. Check out our franchising funds guide.

    Yes

    Find Out More
    Expected Revenue After 2 Years

    Discussed at interview

    Request Free Information
    Find Out More
    You Me Sushi logo

    Request Free Information

    Send a free enquiry to You Me Sushi for further information!

    By sharing your email, you're agreeing to our privacy policy, cookie policy and terms & conditions.
    View all opportunities