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
Will a franchisor help me prepare a business plan to present to my bank?
Most good franchisors will facilitate the process, but the important word is ‘help’. It’s no use to anybody if they simply do it for you. Over the years I’ve heard of many instances where the potential franchisee is sitting with their bank manager in order to discuss the plan and raise the finance when a question gets the response: “I don’t know, this is what they sent me”. Often the said plan hasn’t even been adapted for that franchisee’s specific personal circumstances or their proposed territory. You can imagine how well the rest of the meeting went.In any case, the business plan isn’t just a part of the recruitment process that can be forgotten once the money is raised, although the part that goes to the bank should concentrate on that objective. The rest of it should be a more detailed explanation of what your objectives are and how they will be achieved, including action points as well as the financial projections. Used properly, the preparation of the business plan forms an important part of the franchisee’s pre-training, as it enables them to get under the skin of how the business operates and where the hot spots and competition are in their local market.So by all means use the franchisor’s knowledge of its business, but be sure to relate the plan to your outlet and include accurate forecasts for the personal expenses you will have to meet while the business is growing.
You might also be interested in
Answered by Vincent Anthony
Vincent Anthony writes: The property market has wide appeal because it is relevant to everyone: we all... read more
Answered by Louise Harris
Louise Harris writes: Richness or wealth is relative. We always want more, I guess. So, what is... read more
Answered by Shelley Nadler
Shelley Nadler writes: A concern that businesses may have when deciding to franchise their business, is the... read more
Answered by Alan Wilkinson
Alan Wilkinson writes: There are two elements to consider here. First is the franchise fee itself, and... read more
Exciting Franchise Opportunities
Start your own Anytime Fitness franchise
Yes
Find Out MoreOperational breakeven in the first month...
Request Free Information
Send a free enquiry to Anytime Fitness for further information!
Start your own No Letting Go franchise
Yes
Find Out MoreN/A
Request Free Information
Send a free enquiry to No Letting Go for further information!
Start your own Fun Fest for Children franchise
Yes
Find Out MoreFrom £30,000
Request Free Information
Send a free enquiry to Fun Fest for Children for further information!
Start your own Gourmet Sushi franchise
Yes
Find Out More£1,900,000
Request Free Information
Send a free enquiry to Gourmet Sushi for further information!
Start your own 92 Degrees franchise
Yes
Find Out MoreAOR
Request Free Information
Send a free enquiry to 92 Degrees for further information!
Companies to Consider
Get expert franchising news delivered straight to your inbox
Franchise news, advice and new opportunities delivered weekly.
Must Read Articles
-
50 franchises with funding plans in 2024
Added one week ago | 2 min read
-
Finance special: How to fund a Jetts Fitness franchise business
Added one week ago | 2 min read
-
Finance special: How to fund a Home Instead franchise business
Added one week ago | 2 min read
Franchises by Minimum Investment
Find your next business opportunity
Search 100s of UK franchises and become your own boss today.
-
Under 10k
Starting a franchise doesn't have to be costly
Click here -
Under 20k
A mid-range investment for the more experienced
Click here -
Under 50k
If you have experience and more to invest
Click here -
Over 50k
If budget is not an issue, then don't miss these
Click here -
Local Franchises
Find the perfect franchise in a location to suit you
Click here
What Franchise Newsletter
Keep up to date with all the industry news