franchise business proposal pdf

Franchise Business Plan Template

Written by Dave Lavinsky

Franchise Business Plan Outline

• Franchise Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

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Franchise Business Plan

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We have helped over 10,000 entrepreneurs and business owners with how to create a franchise business plan to start or grow their franchises.

How To Write a Franchise Business Plan & Sample

Below is are links to each section of a franchise business plan example to help you start your own franchise business:

• Executive Summary – This section provides a high-level overview of your business plan. It should include your company’s mission statement, as well as information on the products or services you offer, your target market, and your business goals and objectives.
• Company Overview – This section provides an in-depth look at your company, including information on your franchise’s history, franchise business model, ownership structure, and management team. You will also include a copy of your franchise agreement.
• Industry Analysis – In this section, you will provide an overview of the industry in which your franchise will operate.
• Customer Analysis – In this section, you will describe your target market and explain how you intend to reach them. You will also provide information on your customers’ needs and buying habits.
• Competitive Analysis – This section will provide an overview of your competition, including their strengths and weaknesses. It will also discuss your competitive advantage and how you intend to differentiate your franchise from the competition.
• Marketing Plan – In this section, you will detail your marketing strategy, including your marketing initiatives and promotion plans. You will also discuss your pricing strategy and how you intend to position your own business in the market.
• Operations Plan – This section will provide an overview of your store’s operations, including your store layout, staff, and inventory management.
• Management Team – In this section, you will provide information on your management team, their experience, and their roles in the company.
• Financial Plan – This section includes your company’s financial statements (income statement, balance sheet, and cash flow statement). It also includes information on how much funding you require and the use of these funds.

Next Section: Executive Summary >

Franchise Business Plan FAQs

What is a franchise business plan.

A business plan is a plan to start and/or grow your franchise. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your business plan using our Franchise Business Plan Template here .

What Are the Main Types of a Franchise?

About any type of business can be franchised. Franchises are categorized according to different factors like investment level, franchisor’s strategy, business operations, and marketing and relationship models. The most common types of franchises are job franchise, product or distribution franchise, business format franchise, investment franchise, and conversion franchise.

What Are the Main Sources of Revenues and Expenses for a Franchise?

The main source of revenue for a business franchise are franchise fees and royalty fees. Some also earn from other fees like distribution fees, site assistance fees, training fees, technologies, and rebates.

The key expenses for franchises are inventory, payroll, marketing and advertising, rent and loans.

How Do You Get Funding for Your Franchise?

Among the most common sources of funding for a franchising business are commercial bank loans, Small Business Administration (SBA) loans, personal savings and friends and family loans/gifts. There are also lenders that can supplement other loans with equipment financing and business lines of credit for franchise businesses.

This is true for a business plan for a franchise restaurant, a business plan for franchise store, or any other franchise business plans.

Where Can I Get a Franchise Business Plan PDF?

You can download our free franchise business plan template PDF here . This is a sample franchise business plan template you can use in PDF format.

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Franchise Business Plan

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How to Write a Franchise Business plan?

Writing a franchise business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, mention your product or services:, management team:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

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2. Business Overview

Depending on your business’s details, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

Product distribution franchise

Management franchise, business format franchise.

• Company structure of your business , whether it is a sole proprietorship, partnership or something else.
• Location of your business and why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market your business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your business plan:

• Use various sources to gather data, including industry reports, market research studies, and surveys.
• Be specific and provide detailed information wherever possible.
• Include charts and graphs to help illustrate your key points.
• Keep your target audience in mind while writing the business plan.

4. Products And Services

The product and services section of a franchise business plan should describe the specific services and products that will be offered to customers. To write this section should include the following:

List the services:

• Create a list of the products or services your franchisee will offer. For example, if you own a fast-food franchise, you may include a menu description, pricing strategy, and specific services like takeaway, home delivery, drive-through facility, etc.
• Describe each service: Provide a detailed description of what it entails, the time required, and the qualifications of the professionals who will provide it. For example, a Visual Merchandiser is responsible for creating attractive and effective displays in a clothing franchisee.

Emphasize safety and quality:

Overall, a business plan’s product and services section should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Develop your unique selling proposition (USP):

Marketing strategies:, sales strategies:, customer retention:.

Overall, your business plan’s sales and marketing strategies section should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business processes and procedures involved in operating a business. Here are the components to include in an operations plan:

Hiring plan:

Operational process:.

• For example, McDonald’s has strict SOPs covering everything, including strict procedures for cooking, assembling, and packaging food, handling customers, and maintaining a clean environment.

Equipment & Technology:

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the operations. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Key managers:

Organizational structure:, compensation plan:, board of advisors:.

Describe your franchisee’s key personnel and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan, it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections and provide supporting evidence for your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

• Include a table of contents for the appendix section to make it easy for readers to find specific information.
• Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market research data, such as statistics on the size of the industry, consumer demographics, and trends in the industry.
• Include any legal documents such as permits, licenses, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your franchise business should only include relevant and essential information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This franchise business plan sample will provide an idea for writing a successful franchise plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready franchise business plan to impress your audience, download our franchise business plan pdf .

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Frequently asked questions, why do you need a franchise business plan.

A business plan is an essential tool for anyone looking to start or run a successful franchise company. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your franchise business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your franchise business.

How to get funding for your franchise business?

There are several ways to get funding for your franchise business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Angel investors – Getting funds from angel investors is one of the most sought options for startups.
• Small business grants – there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your franchise business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your franchise business plan and outline your vision as you have in your mind.

What is the easiest way to write your franchise business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any franchise business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Write a Franchise Business Plan + Template

Elon Glucklich

8 min. read

Updated February 7, 2024

Free Download:  Sample Franchise Sandwich Shop Business Plan Template

Owning a franchise is an excellent way for business owners to gain instant brand recognition. 

By paying a franchise fee, you can own a fast-food restaurant like McDonald’s, Subway, or Kentucky Fried Chicken, a 7-Eleven convenience store, a gym chain, or even a hotel like a Marriott or Hilton. 

For franchises with fees between $25,000 and $100,000, recent research indicates that the 5-year business failure rate is about 5 percent , just one-tenth of the overall business failure rate. Put simply, you have a much higher chance of success opening a franchise than a traditional business.

But getting a proven brand name doesn’t guarantee success. You’ll need to ensure you understand the franchise’s business model and expectations. 

Plus, you need to determine if there’s a big enough market for your business to be successful, what potential customers expect from businesses like yours, and how many competitors you’ll face.

Fortunately, answering these questions are all part of writing a comprehensive business plan . Here are the steps to writing a franchise business plan that shows your business’s unique value—while answering critical financial and operational questions your franchisor or lender will want to know.

Ready to write your plan? Check out our selection of franchise business plan examples to inspire your own.

• Why you need a business plan for your franchise business

Writing a detailed business plan is crucial for two reasons. 

First , it demonstrates to the franchisor that you understand how their business operates. 

Since the company sets your prices , controls your product inventory, and will likely tell you what marketing tactics you can use—the business plan puts in writing that you understand how their rules and guidelines affect your business.

Second , the plan also organizes all of your expectations, assumptions, and research about your business into one document that serves as a roadmap for success:

• Business objectives
• Franchisor requirements
• Funding needs
• Financial goals
• Growth strategies

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How to write a business plan for your franchise 

1. understand your franchise business model.

Since the franchisor has already established the company’s business model, your business plan should focus on how you can adapt it to be successful in your chosen location .

Imagine you’re planning to open a fast food restaurant, chain hotel, or convenience store. How do these kinds of businesses operate successfully? Consider the business models of each:

Fast food restaurant: Standard menu, streamlined kitchen operations, marketing strategy leaning heavily on national advertising campaigns.

Hotel: Efficient room turnovers, maintaining cleanliness and amenities that the brand promises.

Convenience store: High foot traffic, quick inventory turnover, and flexible operating hours.

Each case presents different business dynamics – and considerations for your business plan. You should be able to show in your plan that you understand the revenue streams and direct costs of running this type of business, and what your customer acquisition costs might be.

2. Conduct a market and location analysis

Buying into a franchise gives you some marketing advantages. You have a widely recognized brand to attract customers, access to promotional materials, and maybe even some information about customer buying patterns from your franchisor.

But operating a franchise doesn’t take away the heavy lifting of market research . Each franchise has to consider local factors that could affect its profitability.

A good starting point is to conduct a SWOT analysis , documenting the strengths, weaknesses, opportunities, and threats facing your business. Here are some other key elements to consider:

Demographic study

• Employment status

Understanding the demographics of the people most likely to visit your business could help you set operating hours or decide who to target with promotions.

Competitor analysis

• Identify your competitors
• Compare your product or service offerings with theirs
• Compare price points
• Compare marketing strategies
• Define the competitive advantage of your business

Don’t just look at direct competitors that are similar to your franchise. If you’re opening a 24-hour 7-Eleven, you should also look at supermarkets, drugstores, or food delivery services in your area.

Geographic analysis

• Neighborhood characteristics
• Population trends

A chain restaurant in a busy downtown probably has different customers and peak times than the same restaurant in a shopping center near a residential area. So it’s essential to understand the characteristics of the neighborhood you’re operating in.

Consumer behavior patterns

• Technology use

Understand what drives consumers interested in your business to make the choices they do. This is where you will want to do online research and, ideally, go out and talk to potential customers.

Franchise-specific research

You should also answer questions about the competitive positioning of the franchise – and franchises as a whole – in your area.

• How do similar franchises perform in your area?
• What is the brand perception of the franchise you intend to start?
• Is there a large enough market in the area for your franchise?
• What non-franchise options are available? What are the advantages or disadvantages for customers who shop there instead?

Be sure to examine what potential customers discuss on social media platforms and online message boards like Reddit to understand what they expect from businesses like yours.

3. Highlight your unique value proposition within the franchise

Even though you’re buying into a proven business model , you’ll still face competition. Your business plan gives you a chance to put on paper what gives you a competitive advantage. 

In the case of a franchise business , your franchisor may be the most important stakeholder to read your business plan. So the plan is to show them you can run a successful business under their name.

Maybe the 7-Eleven convenience store you want to open is in a location with a lot of foot traffic and no larger grocery stores nearby. Or maybe your restaurant offers late-night delivery in an area with few alternatives. 

By outlining your unique value proposition in your business plan—you can align your individual strengths and market opportunities with your franchisor’s proven business model.

Backing up your unique value proposition with any data or information about customers will be especially important if you’re operating in a crowded market with lots of competition.

4. Do your own financial projections and scenarios

The franchisor may provide some guidance, but this is your business.

That means your business plan should include the same financial details and projections as if you were starting a business from scratch. Your financial plan should include:

Start-up costs : The initial investment required to get your franchise off the ground. This should include the franchise fee, the cost of equipment, initial inventory, license fees, and any expenses related to your location.

Ongoing fees and operational costs: These are costs that recur monthly or annually. They include fixed costs like franchise royalties, lease payments, and staff salaries, and variable costs like utilities, inventory, maintenance costs, and marketing expenses.

Revenue projections : Detail how much revenue you expect to bring in monthly. Forecast revenues out into the future, and don’t be afraid to make projections several years out. 

Remember, good financial forecasts are meant to be adjusted as real numbers come in, and comparing your projections with actuals over time can help you make better business decisions.

Break-even analysis : This is where you calculate how long it will take for your franchise unit to cover its initial investment and start making a profit. Knowing your break-even point is essential not just for you but also for lenders.

5. Create an operational plan

Even though the franchise provides the business model, you must ensure it runs smoothly daily. Your business plan should provide a clear operational plan that outlines :

Staffing needs 

You should be specific about the staffing level your business needs . You’ll need cashiers, cooks, and delivery drivers if you’re running a fast-food franchise. List the skills and experience needed for each role, and outline your plans for training new hires.

Inventory management

While a franchise agreement might take some of the pressure off of sourcing your inventory, it’s still your responsibility to develop processes for managing it. 

You’ll need to understand if there are seasonal trends in your business, how often various products are returned, how long an item can sit on your shelves, and a variety of other factors that affect how much of a product you should order and when you should order it.

Quality control

Since you’re operating under a franchise agreement, you must comply with the standards the franchisor sets out for operating their business. Detail the quality control procedures you’ll put in place to meet those standards. 

Also, take some time in the business plan to address how you’ll stay compliant with local, state, and federal laws and the franchise’s policies.

6. Review and adjust your business plan

The business plan for your franchise should not be a static document . Market conditions evolve, consumer demands change, and new competitors emerge. Additionally, Franchisors often update their business models, add new products, or change their marketing strategies.

You may also be expected to periodically share financial reports or general updates about your business with the franchisor. (LivePlan lets you create and share visually engaging, professional reports using information from your business plan.)

Either way, your plan should outline how you’ll account for market shifts or franchise changes in your operations. Just as important, you should make it a habit to review your business plan periodically – many business owners review their plans quarterly or even monthly, especially when starting out. 

That way, they can adapt the plan as their business evolves.

• Download your free sample business plan for a franchise business

If you need help getting your franchise business started, check out one of our free sample franchise business plans . You can download this document in Word form and customize it to get you started on your own business plan. 

It’s just one of 550+ sample business plans we’ve made available to download.

You can also review our step-by-step guide on how to write a business plan for a detailed look at how to write specific sections of a traditional business plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

Table of Contents

• How to write a business plan for your franchise 

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Sample Franchise Business Plan

Writing a business plan is a crucial step in starting a franchise business. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring franchise business owners, having access to a sample franchise business plan can be especially helpful in providing direction and gaining insight into how to draft their own franchise business plan.

Download our Ultimate Franchise Business Plan Template

Having a thorough business plan in place is critical for any successful franchise venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A franchise business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.

The franchise business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your franchise as Growthink’s Ultimate Franchise Business Plan Template , but it can help you write a franchise business plan of your own.

Franchise Business Plan Example – BrandExpand Ventures

Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team.

Welcome to BrandExpand Ventures, our new franchise based in the vibrant community of Louisville, KY. We stand out as a beacon for local businesses by providing high-quality franchise services unmatched in the area. Our offerings are comprehensive, designed to empower our franchisees through the use of our established brand, efficient operating systems, extensive training, and robust marketing support. We also ensure the success of our partners by granting exclusive territories, eliminating internal competition within our network. Our location in Louisville not only reflects our commitment to serving the local community but also positions us strategically to understand and leverage unique market dynamics. With a foundation built on the rich experience of our founder and a commitment to excellence, BrandExpand Ventures is on a path to becoming a leader in the franchise industry.

Since our inception on January 5, 2024, BrandExpand Ventures has achieved significant milestones that underscore our commitment to building a robust and reputable franchise business. These accomplishments include the creation of a distinctive logo that aligns with our brand’s values, the careful selection of our company name to resonate with our mission and target audience, and finding an ideal location in Louisville, KY, to serve our community directly. These steps, though just the beginning, are indicative of our dedication to excellence and set the stage for our future success in the franchise industry.

The franchise industry in the United States is a burgeoning market with an estimated value of over $800 billion, offering diverse opportunities across various sectors. Expected to grow annually by 2-3%, the industry’s expansion is driven by consumer demand for familiar brands and the appeal of franchising as a comparatively lower-risk venture. Recent trends, such as the surge in health and wellness concepts and technology-driven business models, align well with BrandExpand Ventures’ innovative service offerings. Positioned in Louisville, KY, we are primed to tap into the growing demand for unique and customer-centric franchise opportunities, setting a solid foundation for success in this competitive landscape.

Our primary customer base includes local residents of Louisville, KY, seeking reliable services that cater to their daily needs and preferences. BrandExpand Ventures is committed to understanding and meeting the unique requirements of this community. Additionally, we target small and medium-sized businesses within the area, providing specialized services to help them streamline operations and enhance their customer experience. By also catering to tourists and visitors, we aim to create a diverse and sustainable customer base, contributing to our franchise’s growth and the local economy.

Our main competitors include Duck Donuts, known for its customizable donuts, Bruegger’s Bagels, offering fresh, high-quality bagels and breakfast options, and Tee24, a driving range and practice facility for golf enthusiasts. Despite the strengths of these competitors, BrandExpand Ventures distinguishes itself through superior franchise services, innovative business models, and a strong support system for our franchisees. Our strategic location in Louisville, KY, along with our focus on tailoring services to the local market, positions us advantageously to secure a significant market share and outperform our competitors.

BrandExpand Ventures offers a compelling suite of services, including brand name and trademarks, operational systems, training and support, marketing and advertising assistance, and exclusive territories. With competitive pricing for these services, we provide a solid foundation for entrepreneurs to succeed in the franchise industry. Our promotional strategies focus on online marketing, including social media campaigns and email marketing, to engage potential customers effectively. Additionally, local SEO, community events, partnerships, a referral program, and exceptional customer service will play crucial roles in building brand awareness and loyalty in Louisville, KY. These efforts are designed to attract and retain a strong, loyal customer base and ensure long-term success.

To guarantee the success of BrandExpand Ventures, our operational focus includes managing inventory, conducting daily financial transactions, implementing quality control measures, continuous staff training, and utilizing effective marketing strategies. We also prioritize communication with franchise headquarters, monitoring customer feedback, maintaining a welcoming store environment, ensuring compliance with regulations, and optimizing operations through technology. Our upcoming milestones include securing a prime location, obtaining necessary permits, building out the franchise location, developing a local marketing strategy, hiring and training staff, launching our business, establishing operational efficiencies, building a loyal customer base, reaching a significant revenue milestone, and evaluating scalability options.

Leading BrandExpand Ventures is Samuel Adams, our President, who brings a wealth of entrepreneurial experience and a proven track record in the franchise industry. His skills in operations, leadership, and strategic planning are invaluable to guiding our company towards sustained growth and innovation. Under Adams’ direction, BrandExpand Ventures is poised to achieve its mission and set new standards in the franchise sector.

Welcome to BrandExpand Ventures, a new franchise serving the vibrant community of Louisville, KY. As a local franchise business, we pride ourselves on filling the void left by the absence of high-quality local franchise businesses in the area. At BrandExpand Ventures, we’re more than just a name; we’re a partner in your business journey, dedicated to providing unparalleled franchise services that set our clients up for success.

At the core of BrandExpand Ventures are our comprehensive offerings designed to empower our franchisees. Our services cover everything from leveraging our established brand name and trademarks, implementing efficient operating systems and processes, to providing extensive training and support. Furthermore, we understand the importance of a strong market presence, which is why we offer robust marketing and advertising support to ensure our franchisees stand out. Additionally, we grant exclusive territories, ensuring our partners can operate without direct competition from fellow franchisees within the BrandExpand network.

Based in the heart of Louisville, KY, BrandExpand Ventures is strategically positioned to serve and support the local business community. Our roots in Louisville not only allow us to understand the unique market dynamics but also enable us to forge strong connections with the people and other businesses in the area.

Our journey to becoming a leading franchise business is built on a solid foundation. With a founder who brings valuable experience from running a successful franchise business and a commitment to offering superior franchise services compared to our competitors, BrandExpand Ventures is uniquely qualified to succeed. Our understanding of the franchise landscape, combined with our innovative approach to business, positions us as a formidable force in the industry.

Since our establishment on January 5, 2024, as a Sole Proprietorship, BrandExpand Ventures has hit several key milestones. We’ve poured our creativity and business acumen into designing a distinctive logo that embodies our brand’s values and vision. Additionally, developing our company name was a thoughtful process, ensuring it resonates with our mission and appeals to our target audience. Finding an ideal location was another significant achievement, allowing us to set our roots in Louisville, KY, and start serving our community directly. These accomplishments, though just the beginning, mark our commitment to building a robust and reputable franchise business.

The franchise industry in the United States is thriving, with an estimated market size of over $800 billion. This industry encompasses a wide range of sectors, from fast food restaurants to fitness centers to cleaning services, providing opportunities for entrepreneurs to invest in established brands and proven business models.

Market experts project continued growth in the franchise industry, with an expected annual growth rate of around 2-3%. This growth can be attributed to factors such as consumer demand for convenient and familiar brands, as well as the appeal of franchising as a lower-risk option for aspiring business owners. As more Americans seek the independence of business ownership without the uncertainty of starting from scratch, franchises offer a compelling solution.

Recent trends in the franchise industry, such as the increase in health and wellness concepts and the rise of technology-driven business models, bode well for BrandExpand Ventures. With a focus on providing innovative services to customers in Louisville, KY, BrandExpand Ventures is poised to capitalize on the growing demand for unique and customer-centric franchise offerings. By staying ahead of industry trends and delivering exceptional value to their target market, BrandExpand Ventures is well-positioned for success in the competitive franchise landscape.

Below is a description of our target customers and their core needs.

Target Customers

BrandExpand Ventures will target local residents as its primary customer base. These residents are seeking reliable and consistent services that cater to their daily needs and preferences. The focus will be on understanding the local community’s unique requirements and tailoring services to meet these effectively.

In addition to local residents, BrandExpand Ventures will also serve small and medium-sized businesses within the Louisville community. These businesses often look for partnerships and services that can help them streamline operations and enhance their customer experience. By offering specialized services catered to these business needs, BrandExpand Ventures will position itself as an invaluable partner within the local business ecosystem.

Furthermore, BrandExpand Ventures will tailor its offerings to attract tourists and visitors to the area. By providing services that cater to the needs and expectations of those visiting Louisville, the franchise will not only expand its customer base but also contribute to the local economy’s growth. This strategy is expected to create a diverse and sustainable customer base for BrandExpand Ventures.

Customer Needs

BrandExpand Ventures meets the rising demand for high-quality franchise services among residents who seek exceptional experiences. Customers can expect not just standard offerings but an emphasis on excellence that distinguishes BrandExpand from competitors. This commitment to quality ensures that every interaction and service provided exceeds customer expectations, fostering loyalty and satisfaction.

In addition to quality, BrandExpand Ventures understands the importance of personalized service. Each client receives tailored advice and solutions that align with their specific needs and goals. This personal touch not only enhances the customer experience but also builds a strong, trusting relationship between the brand and its clientele.

BrandExpand Ventures also recognizes the need for innovation in the franchise industry. Customers can access the latest trends and opportunities, ensuring they are always at the forefront of the market. This approach not only attracts forward-thinking entrepreneurs but also secures a competitive edge in a dynamic business environment.

BrandExpand Ventures’s competitors include the following companies:

Duck Donuts is a popular franchise known for its made-to-order donuts. They offer a wide variety of toppings and flavors, allowing customers to customize their donut experience. Price points at Duck Donuts are competitive, with options ranging from single donuts to larger dozen and bucket deals that cater to both individual indulgence and group treats. Duck Donuts has seen substantial growth, with revenues bolstered by both in-store sales and a strong emphasis on catering and special events. The brand operates locations across multiple states, demonstrating a broad geographic service area that appeals to a wide customer segment, including families, young professionals, and students seeking a unique, customizable snack option. Key strengths of Duck Donuts include its customizable product offering and a strong, recognizable brand. However, its reliance on a single product line could be seen as a weakness, limiting its appeal to a broader audience seeking more diverse menu options.

Bruegger’s Bagels offers a wide variety of bagels, breakfast, and lunch options, including sandwiches, salads, and soups. Their price points are designed to appeal to customers looking for a quick, affordable meal without compromising on quality. Bruegger’s has built a reputation for offering fresh, high-quality bagels baked in-store daily, which has become a significant revenue driver. The company operates numerous locations across the United States, serving a diverse customer segment that includes busy professionals, students, and families looking for a quick-service breakfast or lunch option. Bruegger’s Bagels serves multiple geographies, from urban centers to suburban communities, ensuring a broad market reach. Key strengths include a strong focus on product quality and freshness, as well as a diverse menu that appeals to a wide range of dietary preferences. However, Bruegger’s faces the challenge of competing with other fast-casual dining options and the need to continually innovate to keep their menu fresh and appealing to customers.

Tee24 – Driving Range & Practice Facility offers a unique blend of sports and entertainment, providing customers with high-quality golfing practice facilities and driving ranges. Their pricing strategy caters to both casual and serious golfers, with options ranging from single bucket purchases to membership packages that offer unlimited access. Revenues at Tee24 are driven by a combination of service fees, memberships, and sales from its pro shop, which offers golfing equipment and apparel. The facility is strategically located to attract customers from a wide geographic area, including Louisville, KY, and surrounding regions. The customer segment includes golf enthusiasts of all skill levels, from beginners to advanced players, as well as families and corporate groups seeking recreational activities. Tee24’s key strengths lie in its high-quality facilities and the ability to offer a year-round golfing experience, regardless of weather conditions. However, its key weakness could be the niche market it serves, limiting its appeal to non-golfers and those with no interest in the sport.

Competitive Advantages

As a leading business in the franchise industry, our approach at BrandExpand Ventures sets us apart from the competition. We pride ourselves on offering superior franchise services, a claim that is backed by our commitment to innovation, customer satisfaction, and an unmatched support system for our franchisees. Our unique business model is designed to foster growth and success for both our brand and the entrepreneurs we partner with. By focusing on comprehensive training programs, ongoing support, and leveraging the latest technology, we ensure that our franchisees have all the tools they need to thrive. This dedication to excellence not only enhances our competitiveness but also establishes a strong foundation for our franchisees to build upon.

Moreover, our strategic location in the heart of Louisville, KY, provides us with a distinct competitive advantage. The vibrant local economy and supportive community atmosphere create an ideal environment for franchise businesses to prosper. We capitalize on these local dynamics by tailoring our services and offerings to meet the specific needs of the Louisville market, enabling us to connect more effectively with customers and secure a significant market share. Additionally, our focus on innovation extends to marketing strategies and customer engagement, ensuring that we stay ahead of industry trends and continue to offer value that exceeds expectations. This forward-thinking approach positions BrandExpand Ventures as a leader in the franchise sector, ready to empower entrepreneurs and bring exceptional services to our community.

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products and Services

BrandExpand Ventures emerges as a dynamic player in the franchise industry, offering a comprehensive suite of services designed to empower entrepreneurs and businesses aiming for expansion. At the heart of its offerings is the provision of Brand Name and Trademarks, a critical asset for businesses seeking to establish a strong market presence. Clients can expect to invest an average of $5,000 for the rights to operate under the BrandExpand Ventures umbrella, gaining instant recognition and credibility in their market.

Another cornerstone service is the development and sharing of Operating Systems and Processes. This service is tailored to streamline business operations, ensuring efficiency and consistency across the board. For an average price of $2,500, clients gain access to a proven framework for managing their day-to-day operations, significantly reducing the learning curve and operational risks associated with new business ventures.

Understanding the importance of human capital in the success of any franchise, BrandExpand Ventures places a high emphasis on Training and Support. For an average cost of $3,000, franchisees receive in-depth training programs covering all aspects of the business, from operational to customer service excellence. This is complemented by ongoing support to ensure franchisees can navigate challenges and capitalize on opportunities effectively.

Marketing and Advertising Support is another critical service offered, designed to help franchises attract and retain customers. With an average investment of $4,000, clients benefit from expertly crafted marketing strategies and materials, ensuring their business stands out in a competitive marketplace. This support extends to both digital and traditional advertising channels, maximizing reach and impact.

Finally, Exclusive Territories are a valuable asset offered by BrandExpand Ventures, ensuring franchisees can operate without direct competition from the same brand within a designated area. This exclusivity is available for an average price of $10,000, providing a clear path to market dominance in their local area.

In summary, BrandExpand Ventures presents a compelling value proposition for entrepreneurs looking to leverage the power of franchising. With a focus on brand strength, operational excellence, comprehensive training, marketing support, and territorial exclusivity, it offers a solid foundation for business success. Each of these services is priced competitively, ensuring clients can access the tools and resources needed to thrive in today’s dynamic business environment.

Promotions Plan

BrandExpand Ventures embarks on a strategic promotional journey to captivate and engage customers in Louisville, KY. The cornerstone of their promotional efforts lies in leveraging online marketing, a powerful tool that ensures widespread visibility and engagement. Through meticulously crafted social media campaigns, BrandExpand Ventures will reach potential customers on platforms where they spend a considerable amount of their time. Engaging content, paired with targeted ads, will drive traffic to their website and physical locations, effectively converting online interest into real-world patronage.

Moreover, BrandExpand Ventures will harness the power of email marketing. By building a robust email list, they will keep their audience informed and engaged with regular updates, exclusive offers, and valuable content tailored to their interests and needs. This direct line of communication will foster a sense of community and loyalty among their customer base.

Understanding the significant impact of local SEO, BrandExpand Ventures will optimize their online presence to ensure they appear at the top of search results when potential customers in Louisville search for relevant services. This will not only increase visibility but also drive higher quality traffic to their website, significantly enhancing the likelihood of conversion.

In addition to online marketing efforts, BrandExpand Ventures will engage in community events and partnerships. Participating in local events, sponsoring community activities, and collaborating with other local businesses will build brand awareness and establish a strong, positive presence within the community. This approach not only attracts new customers but also reinforces loyalty among existing ones.

To complement these efforts, BrandExpand Ventures will implement a referral program. Encouraging satisfied customers to refer friends and family by offering them incentives will create a powerful word-of-mouth marketing channel that can significantly amplify their reach and credibility.

Lastly, exceptional customer service will be a pivotal promotional method. By ensuring that every customer interaction is positive, BrandExpand Ventures will foster an environment where customers feel valued and appreciated. This will not only encourage repeat business but will also lead to positive reviews and recommendations, further enhancing their reputation and appeal.

In conclusion, BrandExpand Ventures will utilize a comprehensive blend of online marketing, community engagement, referral programs, and outstanding customer service to attract and retain customers in Louisville, KY. These strategic promotional efforts will establish a strong, loyal customer base and set the stage for long-term success.

Our Operations Plan details:

• The key day-to-day processes that our business performs to serve our customers
• The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of BrandExpand Ventures, there are several key day-to-day operational processes that we will perform.

• Monitor and manage inventory levels to ensure that we always have the necessary products in stock to meet customer demand without overstocking.
• Conduct daily financial transactions accurately, including processing sales, managing expenses, and ensuring all financial activities are recorded for future analysis and tax purposes.
• Implement stringent quality control measures to ensure that all products and services meet the high standards our customers expect from us.
• Engage in continuous staff training and development to ensure our team members are knowledgeable, efficient, and capable of delivering exceptional customer service.
• Utilize effective marketing strategies to attract new customers and retain existing ones, including social media marketing, email campaigns, and local advertising.
• Regularly communicate with the franchise headquarters to stay updated on any changes in operational procedures, marketing strategies, or product offerings.
• Monitor customer feedback through various channels, such as online reviews and in-person comments, to identify areas for improvement and implement changes accordingly.
• Maintain a clean and welcoming store environment that encourages customers to return.
• Ensure compliance with all local, state, and federal regulations that affect our operations, including health and safety standards.
• Optimize operational processes through the use of technology, such as inventory management software and customer relationship management (CRM) systems, to increase efficiency and reduce errors.

BrandExpand Ventures expects to complete the following milestones in the coming months in order to ensure its success:

• Secure a prime location in Louisville, KY : Identifying and securing a lease or purchase for a prime location that is accessible and appealing to our target market. This also involves ensuring the site matches our brand’s image and operational needs.
• Obtain necessary permits and licenses : Completing all legal requirements including health, safety, and business operation permits. This also includes any specific franchise operation licenses that are necessary to legally operate in Louisville, KY.
• Build out and customize the franchise location : Conducting renovations and outfitting the franchise location to meet BrandExpand’s brand standards and operational requirements. This includes both the customer-facing areas and the back-end operational spaces.
• Develop and implement a local marketing strategy : Crafting a marketing plan that includes pre-launch buzz, grand opening promotions, and ongoing marketing efforts to build brand awareness and attract customers in the Louisville area.
• Hire and train staff : Recruiting a team that aligns with the brand’s culture and values, and providing comprehensive training to ensure high levels of service and operational efficiency from day one.
• Launch our franchise business : Officially opening the doors to customers with a well-publicized grand opening event. This marks the transition from the planning and preparation phase to operational business.
• Establish operational efficiencies : Fine-tuning operations to manage costs effectively, ensuring a smooth customer experience, and maintaining quality control across all aspects of the business.
• Build a loyal customer base : Implementing customer relationship management (CRM) strategies to retain customers, encourage repeat business, and generate positive word-of-mouth.
• Get to $15,000/month in revenue : Achieving this revenue milestone to prove the business model’s viability in the local market and setting the stage for further growth and possibly future expansion.
• Evaluate and plan for scalability : Assessing the business’s performance and potential for scaling up operations or opening additional locations in Louisville, KY, or beyond, based on demand, operational capacity, and financial health.

BrandExpand Ventures management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Samuel Adams, President

With a robust track record of entrepreneurial success, Samuel Adams brings a wealth of experience to BrandExpand Ventures as its President. Adams has previously demonstrated his business acumen by efficiently running a franchise business, where he honed his skills in operations, leadership, and strategic planning. His expertise in scaling businesses and driving operational excellence makes him an invaluable asset to BrandExpand Ventures. Adams’ proven ability to lead businesses to success positions him as a cornerstone of the management team, guiding the company towards achieving its mission of sustainable growth and innovation.

Financial Plan

BrandExpand Ventures requires $297,000 in funding to achieve our growth objectives. This funding will be allocated towards capital investments such as location buildout, furniture, equipment, and technology, as well as non-capital investments including working capital, initial rent, staff salaries, marketing, supplies, and insurance. With this financial plan in place, we are confident in our ability to reach our goals and establish a successful franchise in Louisville, KY.

Financial Statements

Balance sheet.

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Income Statement

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Cash Flow Statement

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Franchise Business Plan Example PDF

Download our Franchise Business Plan PDF here. This is a free franchise business plan example to help you get started on your own franchise plan.  

How to Finish Your Franchise Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your franchise business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

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Creating a business plan for your franchise: what to prepare before asking for money.

🕒 Estimated Reading Time: ~8 minutes

Congratulations! You’ve decided that owning a franchise is the right investment for you. You may have even already decided on the type of franchise, and maybe even the franchise brand you are going to pursue.

What’s next? Financing. Securing the funding needed to make your franchise dreams a reality. And unless you are one of the fortunate people that has enough money saved to cover costs, you will likely be seeking a lender to make up the difference between the amount of money you currently have to invest and amount of money needed to open and maintain your franchised business until you 'break even.' (Breaking even is the point in the lifespan of a business where the operation starts turning a profit.)

To convince lenders that you are worthy of their money, the creation of a business plan is crucial. Lenders use a business plan as a guide to assess whether the prospective franchisee is a on a path towards success and profitability.

To approve loans, lenders want to have a clear, straightforward account of the business to be opened, the principals involved, and—perhaps most importantly—perspective on when the borrowed money will likely be repaid.

It's helpful to prepare for the meeting with the lender like a college graduate student would prepare for a thesis defense presentation. In both instances, it is the goal of the person (or people) going into the meeting to have done the adequate level of research necessary to competently back up the stated claims for the desired result (be it the granting of a master's degree to the student or the gaining of a loan for the prospective franchisee).

Important note: the business plan isn’t just for getting money.

Not only does a business plan help in securing funding, it forces you to take a hard look at the investment you are about to make. It gives you a chance to anticipate the challenges that come with opening a business, and temper unrealistic expectations.

As time passes and you move further into franchise ownership, the business plan you’ve created should be updated and utilized as a guide in helping you reach your franchise goals.

Parts of a Business Plan

Creating a business plan doesn't have to be complicated.

There is no standardized length for a business plan, but no lender wants to read a novel-length presentation. The main thing is that the plan is thorough enough to cover all aspects of your individual franchise. You want to give the lender confidence that you are prepared to take on the managing of a business that will turn a profit in a reasonable amount of time.

The key is compiling the proper information to address the reservations of the lenders you will meet with. This is where opening a franchised business offers a notable advantage over an independent business.

The franchise disclosure document (FDD) provided by the franchisor of the system you are investing in contains a great deal of the information needed to complete a business plan.

This information includes the company’s corporate background, a description of the target market, the competitive advantage of the product/service, marketing initiatives, plus the start-up and ongoing costs. Some franchisors even offer assistance to franchisees in the preparation of the plan.

Common parts of a business plan include the following, according to the Small Business Administration  (a sample business plan is located at the end of this article):

Company description: A good place to look for the information for this section is Item 1 of the FDD. Provide an overview of the franchise and its history to the lender. You will also provide a brief outline of the franchise’s service/product (more detailed information will be given in the next section).

Service/product description: Describe in detail the service and/or product your franchise will provide to customers. This section can be combined with the company description. Again, Item 1 of the FDD is where you will find much of the information you need for this section. Item 16 will also be helpful in discussing what you will and will not be able to sell as a franchisee of a particular franchise system.

Market analysis: Use this section to prove to the potential lender that you are not jumping into a business venture on a whim. Concentrate on the specific area (market) in which the franchised business will be located. The territory description in the FDD (Item 12) will help you to a point.

Give a brief discussion of the following:

• How big is your market?
• What kind of people (demographically and financially) make up this market?
• Is the market under-served in regards to this service/product?
• If there is competition, who are your competitors and what is your competitive advantage?
• Discuss what experts are forecasting for the service/product in terms of trends and growth possibilities for your specific market (can include demographic, legislative or environmental factors).

Management structure: This section provides a look at the people who will be responsible for the day-to-day operation of the franchise, particularly you as the owner. Is this venture going to be a sole proprietorship or will there be multiple owners? Explain if you will be involved day-to-day with business operations, or will be acting as an absentee owner.

For yourself and all of the others with an ownership stake, if applicable, detail all business qualifications. Stress any and all experience (even if volunteer) that is relevant to being successful in the future with the franchise operation. Item 15 of the FDD will help with explaining the managerial obligations of the franchisee.

Marketing plan: 'How are you going to get customers?' is the main question you’re answering in this section. Use FDD Item 11 to your advantage here. It provides an overview of the franchisor’s advertising and marketing efforts. Also, it provides a description of the training you will complete before opening. Often marketing and sales courses are part of required training.

Financials: This is the meat of your business plan. In this section, don’t only ask for the money you need. Give the lender the big picture of your financial situation as well. Detail how you are going to obtain the entire initial investment. Often times, a lender will not be financing all of the franchise investment. Are you using a mix of personal savings, loans, credit, etc.?

In addition to the funding request, you will be doing some financial projection. Give a reasonable time frame when the lender can expect full repayment of the loan, and back up that claim with figures. Include graphs and charts detailing the start-up costs, projected profit and loss and projected sales forecast for the franchise.

The franchisor can be of significant help to you in completing this section (via Items 5 and 19 of the FDD, and in direct conversation). However, keep in mind the franchisor is restricted legally about making certain claims about projected earnings. Be conservative with the projections as unexpected delays and unforeseen circumstances do happen.

Appendix: The appendix technically isn’t a part of the business plan, but an additional section to present items that would enhance your presentation. Include items you feel would be necessary to giving the lender a complete picture of you and the franchise you are seeking financing for. Examples include: the resumes of management figures, tax returns, media clippings, etc.

As previously mentioned, the best outside source of information to complete your business plan is the franchisor. No other outlet is going to know that franchise system better. 

Additional resources include online sites such as Bplans.com, which offers site visitors a substantial library of sample plans to review, as well as general business websites like the Small Business Administration. Prospective franchisees can also use a professional business plan writer, particularly for the review of a plan before sitting down with the lender.

Confidentiality agreement: Because business plans contain sensitive and confidential information, the content needs to be safeguarded against potential leaks. To do this, you will need to enter into a confidentiality agreement with the parties you allow to review your business plan.

The agreement will bind them not to disclose or reveal any confidential information they receive, without your written permission.

Sample Business Plan Confidentiality Agreement Template

Sample franchise business plan: Please note that the example business plan linked below is a sample of one way to format a business plan. There are several different acceptable formats, and the contents of business plan sections will vary significantly due to factors including the franchise system, the type and amount of loan sought, the franchisee’s background, etc.

Sample Business Plan

Suggested reading:

• The Ultimate Guide to Franchising
• What is Franchising?
• The Benefits of Franchising
• Choosing the Most Profitable Franchise for You
• 11 Key Steps in Opening a Franchise
• Franchises vs. Business Opportunities
• The Cost to Start a Franchise and Financing Options
• Basics of the Franchise Disclosure Document (FDD)
• Creating a Business Plan for Your Franchise
• Completing and Signing a Franchise Agreement

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How to Write a Business Plan for Your Franchise This vital step can make the difference between success or failure in the franchise world.

By Clarissa Buch Zilberman • May 8, 2023

You're set on becoming a franchisee . You may think it's time to call a franchisor, tell them you're interested, and get funding from your local bank , right? Wrong.

If you're considering buying a franchise, you'll need to write a thorough business plan before moving forward.

A business plan is a detailed document that describes how your business will achieve its goals. Consider it an essential tool for any business owner — including franchisees!

Sound daunting? It can be. But it's a crucial and necessary step in starting your own business. Plus, becoming a franchisee means that the franchisor will provide some of the strategies, plans and overall business information , with some minor tweaks for your specific market.

Here's how to get started.

Related: Considering franchise ownership? Get started now and take this quiz to find your personalized list of franchises that match your lifestyle, interests and budget.

Start with comprehensive research

Before you can begin writing your franchise business plan, you need to gather information about your franchise business . Research the industry, market trends and competitors in the area. You should utilize a SWOT (strengths, weaknesses, opportunities, and threats) analysis of the business, as well.

Next, research the franchisor's history, vision, mission and values . This will help you understand the franchisor's expectations and see if your goals align with the brand. You may have already done a lot of this research when narrowing down your franchise choices .

Related: The 4 Biggest Myths About Franchising

Define your business concept and target market

Your business concept should include details about your product or service , pricing strategy, location, unique selling proposition and market advantages.

Much of this information will be supplied by your franchisor. However, make sure to tweak it correctly for your specific location and audience .

Develop a financial plan

A financial outline is a critical component of your franchise business plan. It should include details about your startup costs, ongoing expenses , revenue projections and profitability.

You should also share cash flow, balance sheets and income statements here. With these documents, you can readily identify any gaps in your business and develop strategies to address them.

Related: 10 Tips to Go From Employee to Boss, From Franchisees Who Did It

Outline your marketing and sales strategy

You may get a headstart from your franchisor on the marketing and sales strategy . This is where you'll want to include more information about your target audience, marketing channels and tactics to promote your business.

From a sales strategy perspective , include your pricing strategy, sales team structure and sales targets that are tailored to your area.

Develop an operations plan

Your operations plan should include details about your day-to-day work, staffing requirements and supplier relationships. You should also outline any technology and equipment needs, inventory management and quality control procedures , some of which your franchisor may dictate.

Create a management team and personnel plan

Your management team and personnel plan should detail the leadership structure of your business, each team member's role and responsibility and the qualifications and experience needed for each position.

You should also outline a staffing plan , which will include your recruitment strategy, employee benefits and training and development programs.

Create an executive summary

An executive summary is literally a summary of your business plan that will provide all the necessary information to someone who only has a few moments to review your business plan. It should summarize the key points of your franchise business plan and research.

Get started by outlining your business plan

A franchise business plan, at the minimum, should include the following sections :

• Executive Summary: This section provides a brief overview of your business, your mission statement, goals and target market.
• Company Description: This section includes more information about your business, such as what you do or sell, your company history and your management team.
• Market Analysis: This section analyzes the market for your products or services, including your target market, competition and competitive advantage.
• Operations Plan: This section describes how your business will operate, including your location, your marketing and sales strategies and management and staffing plan.
• Financial Plan: This section projects your business's financial performance, meaning your revenue, expenses and profit.
• Appendix: This section includes supporting documents, such as financial statements, marketing materials and legal documents.

A business plan will help you succeed

Writing a franchise business plan is a critical step in becoming a successful franchisee . It requires comprehensive research, a well-defined business concept, a solid financial plan, a strong marketing and sales strategy, a detailed operations plan and a competent management team.

Remember: It's a living document, so be sure to update it regularly as your business grows and changes. This will ensure that your plan always reflects the current state of your business.

Tackle a business plan logically and seek help from an expert or your franchisor, as necessary. Then you're off to get your loan, finish your applications and open your doors !

Related: Is Franchising Right For You? Ask Yourself These 9 Questions to Find Out.

Entrepreneur Staff

Freelance Writer, Editor & Content Marketing Consultant

Clarissa Buch Zilberman is a writer and editor based in Miami. Specializing in lifestyle, business, and travel, her work has appeared in Food & Wine, Realtor.com, Travel + Leisure, and Bon Appétit, among other print and digital titles. Through her content marketing consultancy, By Clarissa , she leverages her extensive editorial background and unique industry insights to support enterprise organizations and global creative agencies with their B2B, B2C, and B2E content initiatives. 

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How to Write a Franchise Business Plan

Choosing to open a franchise is a proven path to success.  Although the problem most people have is raising the initial capital to buy the franchise, and for the necessary startup costs.  In this article I’ll explain how to write a franchise business plan, and what lenders want addressed in order to have the confidence to loan you money.

Choosing a Franchise

You’ve most likely already chosen a franchise, but if you haven’t this section will point you in the right direction.  When you think about opening a franchise the first thing that probably comes to mind are quick-service food franchises such as McDonalds, Tim Hortons or Subway.  Although, chances are you’ve decided on a more original choice.

Franchises can be in industries including food, retail, cleaning, real estate, travel, automotive, education, hospitality, accounting, fitness, beauty, property services and more.  For more help on choosing the right franchise you can visit this article.

https://www.businessnewsdaily.com/1783-choosing-franchise.html

But remember that investing in franchise is a serious decision, which requires a lot of time and money.  Do your best to choose a franchise that you truly believe in and support.  If you’re passionate about something you are so much more likely to be successful with it, and owning a franchise isn’t any different.

How to Design a Franchise Business Plan

Before we begin I want to talk about how a franchise business plan should look.  Unless there’s any stipulations, you want to utilize the exact logo, branding, colour scheme and font of the franchise you’re looking to purchase.  Some business plans maintain a more conventional look with strictly text, where other plans feature visuals to help the audience digest the content in other ways.  To see how a business plan with graphic design can look, view one of our samples here.

• Executive Summary

Begin your executive summary by explaining the present opportunity in the marketplace.  There should be plenty of data to support this decision.

For example, if you were planning to open a Starbucks at a busy corner in downtown Toronto, and there were five other coffee shops within a fifty metre distance, you would need to provide the market research to prove a demand for your Starbucks franchise.  No matter who you are, or how reputable your franchise is, you should always provide strong market research to support this expansion of the core business.

Next, think of your executive summary as the blurb at the back of a novel.  Providing enough information to hook you into reading the rest of the business plan, but not so much that it tells the entire story.  Utilize key, overriding themes from each segment of your franchise business plan.

This is why most business plan experts recommend writing your executive summary last, to extract a key point from each section.  We say the opposite: write your executive summary first, so you have something to reference to, and when your plan is complete revisit the executive summary to update it.

• Franchise Overview

Immediately after your executive summary it’s time to sell your audience on the franchise itself.   Things you should include in the franchise overview are:

• When it was founded
• A brief history
• Country of origin, and current headquarters
• Gross revenue in the previous year
• Amount of franchises across the world or nation
• Its unique offering or service
• It’s target audience
• Problem and Solution

Is there even a need for this franchise?  There is one way to find out, through market research.  If you want to test your market to ensure there will be a demand for your franchise check out this article.

https://www.bsbcon.com/blog/do-this-before-you-write-your-business-plan/

Once that’s complete state your findings in the problem and solution section.

For example, Angela wants to open a women only bootcamp franchise in downtown Toronto.  The problem she’s identified is “women aged 25 – 50 are looking to exercise in a fun, non-threatening environment for an affordable monthly fee”.

Currently this demographic is left with only a few bleak options: exercising alone by running through public spaces, signing up for gyms that demand long-term contracts, or fitness centres that have an array of personalities and interests, therefore putting women aged 25 – 50 in a slightly uncomfortable position.

The solution is “a women only bootcamp franchise which is welcoming, affordable, fun and effective.  Moreover, this franchise has a history of bringing women together in each community.  Women aged 25 – 50 can become a part of this community that celebrates safe, healthy and rewarding fitness environments”.

• Products and Services

The products and services for a franchise business plan is often the easiest section to write.  There is often a pre-established list of which products and services the franchise offers; therefore, simply carry that information directly to your business plan.  With that being said, it can be helpful to ask whether there’s any leeway in the products or services your location can offer.  Also, make sure to list the respective price of each product or service.

• Market Analysis

There are typically three components of the market analysis:

Market Growth Rate

It’s important to disclose the market size and growth rate of your franchises industry.  This information is usually widely available, but it’s often more a matter of finding the most accurate data.

Three Closest Competitors

For this portion of your franchise business plan you need to identify the prospective franchises three closest competitors within a predetermined distance around the location.

For example, if you were to open a McDonald’s in the Greater Toronto Area you would need to identify all the quick-service restaurants within a square kilometre, and then realize which of those restaurants would be in direct competition with your franchise.  You might find that a Subway, Tim Hortons and A&W restaurant location are in the closest competition.

Market Research

There should also be plenty of additional research conducted by the corporation of the franchise.  Provide any relevant findings that will help support your business case in this section.

Industry Trends

This is research that you, or your business plan writer will have to carry out.  As much as the corporation wants their franchises to be successful, there is still a gap between their interests and yours.  In order to be sure this franchise opportunity is right, you must understand the trends within the industry you’re about to enter.

For example, if you’re planning on opening a boot camp franchise the head office will surely be telling you about every positive to owning one of their locations.  Although, what do the industry trends tell you?  If you carry out your own industry trend analysis and find out that boot camps are losing popularity then you need to make an important decision about the opportunity.

• Operational Plan

Here is one of the many positives to buying into an established franchise model:

Essentially any operation from taking out the garbage, to speaking to customers, to restocking supplies has a tried and tested formula; therefore, the operational plan in your business plan should simply reference this document.

Don’t reference the entire plan, but rather specific sections to help your audience understand the daily functions of your franchise.  It’s also important to ensure the corporation approves your usage of their operational plan.

• Marketing Plan

The marketing of your franchise will likely be done by the corporation.  Which means this is yet another section where you are referencing their process to marketing, and how your franchise will support their efforts.

This is often done by an ongoing royalty fee between the corporation and each franchise.  Royalty fees can range anywhere from 0-20%, and a percentage of those funds are designated to the corporation to advertise for the brand as a whole, internationally, nationally and regionally.

Give your audience a breakdown of the corporation’s success in marketing to consumers.  Let’s take McDonald’s for example: McDonald’s has a prolific history in engaging people from all walks of life to keep them coming back to their restaurants.  That consistent effort to keep their business relevant in an ever changing world has resulted in developing one of the most iconic brands of all time.

• Financial Plan

My honest advice is for you to consult with our team at Bsbcon on your financial plan.  This is a core part of your business plan, which should be completed once every other facet of your plan has been flushed out.

In choosing to invest into a franchise you’re making a serious decision which can affect your financial future, your schedule, and the quality of life for you and your family.  At the end of the day you need to ensure this investment will truly be worth it.

You will want to know how long it will take to begin making a profit, and how long you will be repaying debt for.  Some people try to do this alone, or trust in business plan writing software.  Work with a professional business plan writer, or a registered accountant to provide you with a second opinion on the financials of your franchise business plan.

• Key Personnel

The people that make up your franchise will make or break the location.  It is ultimately your job as the franchise owner to hire the right people to ensure its success.  Therefore, you must understand the roles and responsibilities of each position.

We’ve already mentioned that creating your financial plan should be your last step, and the step just before that will be developing a compensation summary table.  A compensation summary outlines all positions in the first three years, and what the median salary will be.

• Management Team

Your management team will often be the link that decides whether your franchise receives funding, or not.  Lenders and investors must have confidence that the franchise will be led by capable individuals, which are uniquely qualified for the opportunity.

In doing so you’ll need to provide a professional bio for each management team member.  Do your best to have at least two management team members.  The reason being, that lenders will have greater confidence in lending to a company with multiple managers, because in the scenario that the leader is injured or passes away there are others to keep the business functioning.

Franchise Business Plan Format

Should i open a franchise.

There are so many factors to consider like which franchise is best, and whether you’re the right fit.  Lets first discuss how to know if a franchise is right for you.

Investing in a franchise is likely a poor idea if you’re a rebellious, innovative entrepreneur.  The reason being that franchises are best for individuals who can follow directions while being able to manage a team and utilize a pre-established system.

So, who is the right person to open a franchise?

Someone that is self-motivated, enjoys leading a team, and believes deeply in order.  So entrepreneurs can certainly open a franchise, but they would have to understand that there are set rules, offerings and procedures that must be followed.  Owning a franchise is not the place to evolve a company, although some franchise owners might like to think so.  If that’s what you’re interested in doing you should start your own company, or become a director on the board of an established business.

There are immense benefits in hiring an independent consulting firm to help you decide on a franchise and location that is tailored to your interests.

Additional Help

Our team at Bsbcon are here to help you with any of your business plan writing needs.  You can reach out to me personally at [email protected] or +1 (888) 880-1898.

How can we help you?

Get in touch with us or visit our office

10+ SAMPLE Franchise Proposals in PDF | MS Word | Google Docs | Apple Pages

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Franchise Proposal

A franchise is a great way to expand a company whether it’s a restaurant business or an event-organizing company. But before that, you will need to propose that idea to the hire ups and this is where a franchise proposal comes into the picture.

10+ Franchise Proposal Examples

1. restaurant franchise proposal template.

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What is a Franchise Proposal?

A franchise proposal is a type of proposal that suggests a plan on how to distribute products and services associated with a specific brand or company. These are often part of a marketing plan or a project proposal to expand a business’s reach.

How to Create a Franchise Proposal?

Whether it is making a food franchise or a film franchise, writing them down can be challenging. Keep these six steps in mind when making your franchise proposal.

1.) Review Requirements for a Franchise

Check for any requirements that need to be looked into before you make your content. That way you will be able to plan around it properly without any legal issues.

2.) Provide an Overview

Create an outline for your franchise proposal so that you have a guide on the flow of your content. For example, if you are planning to franchise a spa business , then make an overview of how you would go about it, the team involved, the budget, etc.

3.) Pick a Layout

Choose a layout for your proposal so that you can organize your written content and make it presentable to those who will read it. The layout may vary differently depending on what type of franchise proposal you are making. For example, if you are making a restaurant franchise proposal, it will vary differently from a hotel franchise proposal.

4.) Describe the Team Involved

Bringing this franchise to reality will require a team. Don’t forget to mention the people involved in this project. From the managers to the designers of the brand, including all of them to the last letter.

5.) Present Finacial Predictions

Nothing makes a proposal more compelling than the prospect of making a huge profit. Have your team run the numbers on and present to your readers how much profit and how much investments a company can put to make the starting of a franchise, a big success. Doing so will convince your audience of the ideas presented in your franchise proposal.

6.) Proofread the Final Draft

Once you have completed your sample draft of the proposal double check it for any grammatical errors or spelling mistakes. Any of those can put off the management who will be reading your franchise proposal. So proofread it before you print it out for your presentation.

What is the one advantage of starting a franchise

One advantage of starting a franchise is brand recognition which means the public will easily recognize a specific brand whether it’s a restaurant or a fashion design company.

What are the three kinds of franchises in business?

In business, the three kinds of franchises include the following: business format franchises, manufacturing franchises, and product franchises.

What is the purpose of making a franchise?

Making a franchise means allowing a business to expand its reach to new customers and raising the ability to make profits.

Franchises are a  great way for a business to grow and expand beyond its reach. With a well-written franchise proposal, you will be able to get approval from the management and might even start working on a document for an agreement format right away! Feel free to check out our other proposal and plan templates for any reference that you need.

Proposal Maker

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Generate a proposal for a new school recycling program

Compose a proposal for a school field trip to a science museum.

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Franchise Business Plan Template

Whether you want to start your own franchise business or expand an existing one, you need a business plan. the following franchise business plan template lets you know what elements you need to include in a successful franchise business plan., fill the form to download business plan templates.

To ensure your franchise business success in this highly competitive market, you need a properly structured franchise business plan. With over 12 years of experience, we have helped over 5,000 entrepreneurs create business plans to start and grow their franchise businesses. Using the following franchise business plan template, you can put together an effective business plan.

Things to Know Before Writing a Franchise Business Plan

The franchise business industry has two primary agents; franchisor and franchisee. A franchisor is the business system/brand owner, and a franchisee is an entity that rents the business system/brand name against a fixed initial fee and royalty. 

A franchise business plan is popular in many industries. Popular franchise systems are fast food chains like McDonald’s, KFC, Subway, etc. You can find a franchise opportunities in many industries. 

A franchisee operates a business location under the guidelines of the franchisor. You have little freedom to experiment with new things. 

The FDD, or Franchise Disclosure Document, is the legal contract between a franchisor and a franchisee. FDD has details of the rights and responsibilities of the two parties. This is generally a lengthy document. You need to understand it before you buy a franchise. 

The franchise industry is growing fast. As International Franchise Association (IFA) reports, 2022 is the year of opportunity for franchises. 

The estimated number of total franchises in 2021 was 774,965 with a total number of employees at 8,192,600, and an output of $787.7 billion. 

The total GDP size of the franchise economy in 2021 was $474.2 billion. The growth projections for franchises in 2022 stand at 2.2%. 

These are the top industries with the most number of franchises. 

• Quick Service Restaurants (188,402 franchises)
• Retail Food, Products, and Services (162,579 franchises)
• Personal Services (114,012 franchises)
• Business Services (99,296 franchises)
• Commercial & Residential Services (75,678 franchises)

Key Success Factors for Franchise Business

A franchise business has different dynamics as you are selling an established brand to a market with a demand for that brand’s products or services. 

We have identified these five factors that play a crucial role in making a franchise successful. 

• A Loyal Customer Base for the franchisor brand makes sure you’ll have enough demand to successfully run your franchise business 
• A Clear Market Position . This means that you are selling products where there is a need and where the brand fulfills that need. 
• Franchisor Business Operating Expertise : When a franchisor has business expertise, chances are they will better lead the industry and develop the market for the brand 
• Established Brand Name : Running a McDonald’s franchise is far more profiting than a Huddle House
• Ability to Control Stock: When franchisees can control stock locally, they can meet increased demand, control costs, and reduce waste. 

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What is a Franchise Business Plan?

A franchise business plan is a roadmap for starting and growing your franchise business. Your business plan outlines your business concept, identifies your target customers, presents your marketing strategy, and details your financial projections.

Any bank or investor you approach will require a franchise business plan, so putting one together will be critical to securing funding.

In short, writing a business plan can help you succeed if you’re thinking of starting a franchise business or pitching to investors or venture capitalists.

Why You Need a Franchise Business Plan

Franchise business plans can be used to gain interest from potential investors or to secure loans from banks. They are also helpful to you as the owner. A franchise business plan allows you to thoroughly analyze every aspect of your potential business.

A solid, detailed plan gives you a clear path to follow, forces you to examine the viability of a franchise business idea, and may help you better understand your company’s finances and competition.

A franchise business with a plan grows 30% faster than the rest. On the other side, if we look at the fast-growing companies, 71% of them have a business plan .

A franchise business plan is a living document that should be updated annually as your company grows and changes.

Free: Franchise Business Plan Examples

Do you need help creating a franchise business plan? Check out these six free, proven franchise business plan examples from different industries to help you write your own.

Funding Sources for Franchise Business

Conventional Banks and Credit Unions

You can get a loan from banks, credit unions, or other financial institutions. Getting such a loan for a franchise business depends on many factors including turnover, credit history, and expected revenue of the business. 

SBA regularly offers loans, grants, and lifelines for small businesses. Keep an eye on the 7(a) program that is aimed at small businesses in the early stages. 

Business Partners 

A franchise business is a high investment business. Consider adding business partners to create a money pool big enough for the business needs.

Retirement Funds 

If you have retirement funds available, you can use retirement funds or 401k for starting a franchise. 

Securities-Backed Line of Credit

if you have an investment portfolio, you can get a line of credit against those securities. These securities will serve as loan collateral. 

Equipment, Machinery, and Furniture Lease

You can get franchise machinery, vehicles, computers, furniture, and other equipment at lease. If you get an equipment lease, you may also get a buyout for $1 when the lease term ends. 

Looking to Build Business Credit for Your Franchise?

A franchise business’ success is partially determined by its supply chain. We can help you purchase goods and services on Net 30 terms. Create a net 30 account with us and start building your business credit. 

How to Write a Franchise Business Plan

To write a franchise business plan, you don’t need to be an expert. Our step-by-step guide will show you how to write a franchise business plan, or you can just download our proven  sample business plans  to get a better idea.

Free Franchise Business Plan Template in PDF and Word

Download our franchise business plan template in PDF and Word here.

Executive Summary

The executive summary is the most important part of the document since it outlines the whole business plan. Despite the fact that it appears first in the plan, write the executive summary last so you may condense key concepts from the other nine parts.

It’s a part that catches the investor’s eye and provides key information about your company’s overview and upcoming short- and long-term goals.

Tell them what kind of franchise business you have and what stage you’re in; for example, are you a startup, do you have a franchise already that you want to expand, or do you have a lot of franchise businesses?

Finally, an executive summary should provide investors with a preview of what they may expect from the rest of your document.

• Provide a high-level overview of the franchise industry
• The name, location, and mission of your franchise company
• A description of your franchise business, including management, advisors, and a brief history
• Discuss the type of franchise business you are operating, Give an overview of your target customers., and how your company differs from competitors in the industry
• Create a marketing plan that describes your company’s marketing strategies, sales, and partnership plans.
• And give an overview of your financial plan

Check out these executive summary examples to help you write a perfect one for your franchise business plan.

Free: Franchise Business Plan Executive Summary Examples

An executive summary is the most important part of your franchise business plan, and it need not be challenging to write. This is why we have put together some awesome free Executive Summary examples for you.

Company Analysis

• Company summary: Your company analysis will describe the type of franchise business you are running and its future goals. The type of franchise business you might be focused on  (for example,  Quick Service Restaurants, Retail Food, Products, and Services, Personal Services, Business Services, or Commercial & Residential Services)
• Company history: When and why did you start your franchise business?
• What milestones have you achieved so far? Your milestones could include served 100th customer, new fleet purchase, etc.
• Legal structure and ownership: Do you have S-Corp status? Is it an LLC ? A sole proprietorship ? Describe your legal structure.
• Mission statement: An overview of your franchise company’s guiding principles. Learn how to write a perfect mission statement .

Industry Analysis

The franchise business plan’s research section will most likely be the most time-consuming. Here, you will elaborate on how you will fit into the existing franchise market.

Since your research findings should serve as a sound confirmation of the conclusions you have outlined thus far, they will demonstrate your understanding of the industry and market.

Industry analysis can be presented as a 8-step process when written as part of a company’s business plan.

• Give a quick overview of the franchise industry. Define the franchise business in terms of size (in dollars), historical background, service region, and products.
• Examine previous trends and growth patterns in the franchise industry.
• Identify the market’s major competitors.
• Age, gender, and general lifestyle of the targeted market
• Determine the factors that have an impact on the franchise industry. These might include government regulatory rules and other businesses’ competitive activities.
• Using research data, the industry forecast expected growth over the next five to ten years. Predictions should be made for both the long and short term.
• Describe how your franchise business intends to position itself in the industry. Concentrate on how your franchise business can benefit from opportunities highlighted in the industry.

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Customer Analysis

The first condition for franchise business is to identify its target customers clearly. Different franchise business have different customers. 

The customer analysis section is an important part of any franchise business plan since it evaluates the consumer segments that your company serves. It identifies target customers, determines what those customers want, and then explains how your franchise items will meet those requirements.

Customer analysis may be divided into two parts: psychosocial profiles (why your franchise items suits a customer’s lifestyle) and demographic profiles (descriptions of a customer’s demographic qualities).

With regards to demographics, include information about the ages, genders, locations, and income levels of your customers. When targeting businesses, describe what kind of business, size, and location your target customers have.

The psychological profiles of your target clients reveal their wants and needs. The better you understand and identify these demands, the better you can attract and retain customers. 

Competitor Analysis

It is necessary to do a competitor analysis. Because you may use their data to define your goals, marketing plans, tactics, new product lines, pricing, and more. Use competitor analysis to:

• Identify the strength and weakness of your franchise business competition.
• Search for opportunities to distinguish your franchise from competitors.

The first step is to determine who your direct and indirect competitors are.

The direct competition consists of other franchise businesses that offer the same goods or services to the same audience. 

Your indirect competitors are other options that customers have to purchase from you that aren’t direct competitors.

Among indirect competitors are the business selling similar product or service. For example, if you have McDonalds’ franchise, someone selling Chinese or Italian food is your indirect competitor. 

Once you’ve identified the competition, concentrate on the direct, head-to-head competitors, since they are the most threatening to your franchise business— but keep an eye on the indirect competition as well, just in case.

Provide an overview of each direct competitor’s business and detail their strengths and weaknesses.

You will be able to position yourself competitively in the market if you perform proper competition research. Perform a SWOT Analysis to learn your competitors’ strengths, weaknesses, and competitive advantages in the following areas:

• Prices – Are they offering cheaper products or services than you and other competitors, what value do buyers get for that price?
• Quality – Are they offering premium quality? What is the perceived worth in the eyes of the customers?
• Customer service – How they respond to their consumers, whether they treat them poorly or well, and the degrees of satisfaction customers show
• Reputation — The sum of everything mentioned above: their credibility, how loved the brand is, and the loyalty of their customers

The final section of your competitive analysis should include a list of your areas of competitive advantage. For example, how will you offer better value at competitive prices for the target market.

Consider how you will outperform your competitors and include them in this portion of your  franchise business plan.

Free: SWOT Analysis Examples

Take advantage of our free SWOT analysis examples. Make your business future-proof by identifying your strengths, weaknesses, opportunities, and threats using this free SWOT Analysis Template.

Marketing Plan

Creating a marketing plan for a franchise business involves identifying the target demographic and finding the goods and services that suit their preferences.

As part of your marketing plan for a franchise business, you should include:

Pricing and Product Strategy

Your franchise business must offer goods or products that are different from those of your competitors. Research what your competitors offer and how they price their offer. 

Placing and Promotions

Place explains the location you’ll chose for your franchise and the reasons of the selection.

Promoting your franchise business is the final part of your marketing plan. In this step, you document how you will drive customers to purchase your goods or services. A few marketing methods you could consider are:

• Marketing on social media
• Web Marketing
• Organize events
• Local Newspaper and TV ads
• Banners and Bill boards 
• Local Radio Ads 

You should also think about your franchise company’s Unique Selling Proposition (USP), which should explain why clients should choose you over other franchise businesses. Ensure that your USP is reflected in your marketing.

Pro Tips: Learn how to create a marketing plan in a business plan .

Operations Plan

While the previous sections of your franchise business plan described your goals, your operations plan discusses how you will achieve them.

An operations plan section in a business plan is helpful for investors, but it’s also helpful for you and employees because it pushes you to think about tactics and deadlines.

Your operational plan should be able to answer the following questions:

• Who – Personnel in charge of completing specific tasks.
• What – A breakdown of the responsibilities of each personnel.
• Where – The location of everyday operations.
• When –The deadlines for completing tasks and goals.
• How much – The amount of money required for each department to perform their job.

Your operations plan should be divided into two individual parts, as seen below.

Your daily short-term processes include all the tasks involved in producing goods or services, managing operations, selling, employee management, etc. 

Long-term goals are milestones you hope to reach. they might be growing your business, such as introducing new items or retail outlets, meeting particular sales milestones, and meeting other essential business-oriented goals like recruiting more staff, opening additional locations, and so on.

Management Team

When writing a franchise business plan, the management section of a business plan outlines your management team, staff, resources, and how your business ownership is structured.

This part may be easily organized by dividing it into the following points:

Ownership Structure

Internal Management Team

External Management Resources

Human Resources

This section outlines your franchise business’s legal structure. An LLC or a Corp is favored in the franchise business ecosystem. 

This section should not only outline who is on your management team but also how each person’s skill set and experiences will contribute to the growth of your franchise business. Ideally, you and/or your team members have direct expertise in the franchise business. If this is the case, highlight your experience and skills.

Think of these external management resources as your internal management team’s backup. Consider forming an advisory board if your team is lacking expertise and experience with franchise business.

An advisory board would consist of 3 to 7 people who would serve as mentors to your franchise business. They would help with strategic direction and strategy advice.

If necessary, search for advisory board members with expertise running franchise business.

Describe all of your company’s external professional advisers, such as accountants, bankers, attorneys, IT experts, business consultants, and/or business coaches. 

The final topic to consider in the management area of your franchise business plan is your human resource needs.

Financial Plan

As part of your financial plan in a business plan , you should present a 5-year financial statement broken down monthly or quarterly for the first year, and then annually. Financial statements include your income statement, balance sheet, and cash flow statement.

Income Statement

A profit and loss statement is more commonly called an income statement. It shows your revenue and subtracts your expenses to determine whether you were profitable or not.

As you develop your income statement, you need to develop assumptions. Will you serve 50 customers per day or 200? Will sales grow by 2% or 8% per year? Your choice of assumptions will greatly impact your business’s financial forecasts. Conduct as much research as possible in order to ground your assumptions in reality.

Free: Income Statement Template

Create a financial statement for your franchise business by downloading our free income statement templates.

Balance Sheet

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities.

The balance sheet shows your franchise business’s net value at a specific point in time. It categorizes all of your company’s financial data into three categories:

• Assets: Tangible goods with the monetary worth that the company owns.
• Liabilities: Debt owing to a company’s creditor.
• Equity: The net difference when the total liabilities are subtracted from the total assets.

The equation that expresses the relationship between these financial data elements is Assets = Liabilities + Equity.

Create a pro forma balance sheet for your franchise business plan that highlights the information in the income statement and cash flow projections. A balance sheet is normally prepared once a year by a company.

Balance sheets indicate your assets and liabilities, and while they contain a lot of information, they are simplified to highlight the most important things you need to know.

For example, spending $500,000 to build out your franchise will not result in instant revenues. Rather, it is an asset that should help you earn money for many years to come.

Similarly, if a bank sends you a check for $200,000, you do not have to pay it back right now. Rather, that is a liability that you will repay over time.

Cash Flow Statement:

Your cash flow statement will help you determine how much money you need to start or grow your franchise business. In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a franchise business:

• Fees for registering a franchise business
• Taxes and licenses costs
• Business insurance
• Payroll or salaries paid to staff
• Facility rent and security deposits
• Construction / remodeling
• Start-up Inventory

Free: Balance Sheet Template

Create a financial statement for your business by downloading our free balance sheet templates.

List any additional material you cannot include elsewhere, such as resumes from key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts, and personal and business credit histories.

Attach your full financial projections along with any supporting documents that make your plan more compelling in the appendix.

Bonus Tip: Learn what to include in a business plan appendix when writing a business plan.

Summary of the Franchise Business Plan

A franchise business plan is a worthwhile investment. As long as you follow the template above, you will become an expert in no time. By following the template, you will understand the franchise business, your competition, and your customers. The plan will help you understand the steps necessary to launch and grow your franchise business.

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Home > Blog > Franchise Development > How to Write a Franchise Business Plan

How to Write a Franchise Business Plan

Entrepreneurs who have decided to franchise their business owing to its past success and ability to replicate the business idea will need to write a business plan for a franchise. In many cases, this business plan will share many similarities with business plans for start-ups. However, a fundamental difference is that a franchise business plan must cover two types of target audiences: prospective franchisees as well as their customers.

In a sense, this is what sets a franchise business plan apart from other business plans that may apply to sole proprietors, limited liability companies, partnerships and others. In this article, we explore what a franchise business plan is, why it is important for your franchise business and how to write a business plan for a franchise.

Table of contents:

What is a franchise business plan?

Why you need to create a business plan, why franchisors are looking for business plans from their franchisees, important elements you need to include in your franchise business plan, how to create a franchise business plan, concluding remarks.

A franchise business plan is a document that is prepared by the entrepreneur in question when they wish to franchise a business. This document is extensive and plays an essential role in the business’ future development.

A franchise business plan is a living document that will require input from management and team members and which will be adjusted over time to meet the goals and aspirations of the business owner.

However, in short, a franchise business plan is a “roadmap” which methodically sets out how business objectives will be achieved. It can be used both internally and externally.

Internally, it can be used by management teams to check whether the business is on track with its predetermined objectives.

Externally, it is presented to lenders for financial assistance. Such lenders will then evaluate the depth, complexity and potential for profitability and returns of the business in question. They will then decide whether or not to award a prospective franchisor the necessary capital to proceed with the next step towards franchising their business and the likelihood and time frame for such capital to be repaid.

As a “roadmap” to a franchise business’ future structure, operations, organisational team, marketing strategy , financial projections and more, the importance of a business plan cannot be overstated.

There are several crucial reasons that you should consider when it comes to the question: why write a business plan in the first place?

Here are some of them:

• Clarify and evaluate your franchise business idea from multiple angles for more certainty and higher chances of success.
• Helps with goal setting and expansion/growth plans including sales, marketing and business operations.
• Enables you to identify potential problems that could arise and how you can circumvent them.
• It acts as a way of tracking your progress.
• Gives you more clarity about your financial needs and the projected financial returns you can expect.
• Assists with strategic planning over the short, medium and long term as it involves detailed research into a wide number of stakeholders.
• Communicates your vision to prospective employees and investors, giving them more confidence in your franchise venture.
• Attract funding from investors, banks and lenders.

When a franchisee expresses interest in a franchise opportunity , franchisors may require that these franchisees prepare a business plan.

This business plan is presented to lenders to enable them to assess whether the prospective franchisee is as thoroughly prepared for the business journey ahead to make it as successful as possible.

The primary purpose of determining this is through a detailed business plan that sets out the franchisee’s organisational structure, operations, market research, marketing plans, financial projections and more.

Whereas a franchisor can often offer help to a franchisee in developing their business plan, financial projections are typically not included by the franchisor because this could have important legal ramifications.

A further reason why a franchisor requires a business plan from their franchisees is to determine whether the franchisee is able to handle and abide by the franchise business model whilst serving the franchisor’s customers in a manner that ensures consistency across the brand.

Your franchise business plan should contain several important elements. Although these may differ from one franchisor to the next, some of the sections are standard and uniform across the board.

These may include:

• An executive summary: this is the first page of the franchise business plan and contains a concise summary of everything that is contained in the remainder of the document. As such, it is usually written last. It can be divided into three sections: a business summary, business aims and a financial summary.
• Company description: the company description contains information about the type of business in question, who it is led by, the background, education and previous experience of the owner and what value they bring to the business.
• Mission and vision statement : the mission statement is generally expressed as a sentiment that is about one sentence long. It indicates what purpose the business seeks to achieve. The vision statement on the other hand is what the business’ meaning and purpose is for each of your stakeholders.
• Business structure : since your focus is on creating a franchise business, the business structure to be clarified here is a franchise business.
• Products and services : other aspects that need to be clarified are what products and/or services your business will be providing to its customers. If you are offering a variety of these, consider grouping similar ones together and describing them briefly. If you are only going to offer one product/service or a handful, you can spend more time describing each one in detail.
• Industry analysis : studying the industry in which your franchise business will operate is also important to show lenders that your business idea is viable and replicable. Industry analysis will start with what other companies (i.e. your competitors) are offering the market, what prices they are asking for their products/services, where they are located and how you plan to strategically position your franchise business so that you outperform them.
• Market analysis : as part of the market analysis, you will need to conduct customer segmentation. This will necessarily involve identifying your target market and their needs as well as determining strategies of reaching them and winning them over to your franchise product or service offering.
• Logistics and operations: logistics and operations refer to the actual production or service delivery activities that you will be carrying out, how you will do so, at what cost, where and when, as well as how frequently these logistical aspects will need to be employed.
• Marketing plan: a detailed marketing plan is created after conducting market research and analysis. The plan will contain the strategy through which customers will be marketed to in terms of new promotions/discounts, special offers, company news, raising brand awareness, boosting sales, measuring key performance indicators (KPIs), refining the strategy and measuring its success.
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• Business management and organisational structure: this section will contain details of the leadership and management of your franchise business as well as a brief outline of what skills, knowledge and experience each person brings to the table.
• Financing projections/financial plan: this is possibly the hardest but most important section to prepare because it will undertake number crunching, forecasting and analysis.
• Appendix: use the appendix to attach any relevant documents to support any preceding section of your franchise business plan.

Knowing more about the various elements that go into a franchise business plan, you can now proceed. Below are some steps to follow in the process of how to write a business plan for a franchise.

Step 1: Present your business and your business idea

Since you already have a successful business behind you and you are seeking to branch out into franchising, you need to indicate why your idea can be replicated successfully in different territories.

Talk about the history of the business, the ownership structure, when it started trading and its progress to date.

Discuss your products and/or services mentioning what sets them apart and what benefits they offer. Are you planning on introducing an entirely new concept to the industry? Are there any disadvantages that you foresee and how will you deal with these?

Step 2: Highlight the key features of the industry

Mention any industry regulations that must be abided by, what types of companies dominate the industry and who the major players are, what key features of the industry need to be known, etc.

Step 3: Specify your target market and competitors

Your target market and competitors should be clearly identified as should the market in which you will be operating.

Target markets and ideal customer personas should be identified including their key demographic information and what influences their purchasing decisions.

Clarify what size of market share you aim to acquire and the steps for doing so.

Outline your primary competitors. Pay special attention to emphasising what their advantages and disadvantages are compared to your franchise business offering.

It’s important to never openly criticise your competition. Instead, approach any references to them with due respect.

Step 4: Outline your marketing and sales strategy

What price will you charge for your products or services – low, mid-range or high? What is the unique selling point that you will seek to emphasise? Do your products or services have unique features and how will these be set apart from competitors? Which marketing channels or combinations thereof will you use? What are your monthly, quarterly and annual sales KPIs and how will your marketing strategy help you reach these?

What will your marketing budget be? What measures will you put in place to test, refine and measure the success of your marketing and sales efforts? How will sales be conducted – online, over the phone, or over the counter at a retail outlet? What is your anticipated cost per acquisition? How will you seek to reduce this? How will you differentiate between marketing for franchisees and marketing for your customers?

Step 5: Note your organisational structure and staffing needs

Who will sit on your management team and what skill set do they bring to the table? Who will be responsible for what department in your franchise business?

How many staff members will you start out with? What will their key roles and responsibilities be? How much will it cost you to retain your staff on a monthly basis?

Also important is the recruitment of franchisees. Will you have a dedicated team to train and support these and what kind of support will you offer? What will be the defining characteristics of your franchise offering and unique selling points?

Step 6: Clarify the intricacies of your business operations

Where will the franchise business headquarters be located? In which territories will future franchisees operate? How will the division of territories be undertaken (if any)?

Do you make use of production facilities? If so, how will you streamline your logistics processes to ensure that your franchisees benefit from these operations?

Will you need to make new investments in equipment? How is your existing infrastructure able to support future growth and further expansion?

What are the relationships with your suppliers like and who are they? What sort of pricing structure can they offer your future franchisees to enable them to optimise their investment?

Step 7: Prepare your financial forecasts

Start out by presenting your sales, income, turnover, profit and other historical figures to provide proof of your current business’ success before you turn to franchising. Going back between three to five years should be sufficient.

What is the gross margin on each product? How does capital flow in your business in terms of stock, debtors, creditors, etc.

What major financial investments have you made and what have been the results of these? Offer an updated balance sheet including a profit and loss account. Provide comparisons with industry norms.

Once the historical aspect has been taken care of, it’s also advisable to create forecasts for the next few years. If you make any assumptions for any of your forecasts, each of these should be explained and supported in full.

How realistic are your forecasts? Never try to inflate projected income, sales, profit, turnover or other amounts. Be as realistic as possible. Factor into account that payment delays may occur. How do you plan on dealing with these?

Specify the type and amount of financing you are looking for. Is it a medium- or long-term loan or an increased overdraft facility? What interest rates and instalment amounts can you afford to pay over the loan period?

Franchising your business will require a franchise business plan to put your goals into perspective and to help lenders back your business idea. And although it can be quite a detailed process, there are several key steps you can take to prepare a thorough and detailed business plan to convince lenders to support your franchise business.

In the beginning of the journey to franchising, many franchisors struggle to implement effective strategies and plans to set them up for success. But there is help at hand. Join our How to Grow Your Franchise Sustainably Without Costing Your Personal Life masterclass to find out about how the 5Fs Franchising Model has been implemented successfully across multiple global franchises and how you can achieve a greater work-life balance by prioritising better and making the most of your existing infrastructure and network.

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Operators usually publish a document telling potential franchise partners what traits and capabilities they require before signing a franchise agreement with any operators. Aside from the standards that the operators must meet, they are also given information on relevant training and support from the operator if ever they are chosen. Be diligent in studying the requirements and make a checklist of the details that you have to consider and should work on to qualify. 

 After making a checklist of the franchise operator’s requirements, you can now develop the structure of your franchise. It is a  work breakdown structure in which the hierarchy of the work process in order to meet the franchise standard and serves as a guide in every step that you take. The salient features of the structure include but not limited to, executive summary, market experience, management skills , management team profile, among others. You can also include a subsection where you can include any proof of your other qualifications such as certificates or contracts specific to the franchise you want to venture into.

As a separate business entity seeking to have a partnership with another business, show your qualifications in a brief yet informative manner. In order to do that, an executive summary should be included in the franchise proposal so that the franchise operator will have an impression of how good it is to do business with you. This document constitutes what it is about to learn about you such as your experiences or even the recognition that you received. It is also important that you include the impediments to your success as a business owner such as the toughness of the competition and the risk level of business. It is also expected a financial or revenue projection is provided that will tell your prospect partner that you are ready with any possibility in the future.

Your team is your most valuable asset at this point because they are the ones who will materialize your visions in the possible joint venture . With that, your proposal must include the resumes of the people comprising your team . The resumes tell the franchisor of the qualifications of each of your team members and their qualifications, relevant experiences, and other skills that might be helpful in creating a productive and efficient working environment

The specific location of the franchise-building and facilities plays a huge role in the success of your franchise since different areas have different climatic conditions and population demographics. Indeed, harsh rainy weather can affect the franchise’s regular operations and can decrease productivity. Likewise, the gender distribution, spending capacity, and the peak hours of a place determine the sales output of the business.

 The franchise operator will look into your financial capabilities which include your assets and personal net worth. You must also include a forecast of your initial investment in the first few months of obtaining the target franchise. With that, the operator will have a road map of how you handle the challenges of running the franchise and how you convert them into profit. With your financial capabilities, the unexpected loss of profit can be made up with the help of other sources. The forecast will determine the most possible scenarios of income generation and how you will be able to get up after incurring some losses given your resources and abilities to get up after losing some rounds. 

It is a method of distributing the goods and services of a company by another business entity that has the rights to carry the company’s name for profit making purposes.

It is an agreed-upon move of a franchise owner to open the same business at several locations with the approval of the operator.

A percentage of the franchisee’s gross sales that serve as payment for the franchise operation.

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