Business plan financial statements and projections

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Business plan financial statements and projections

Lagorio Senior writer, Inc. Lagorio When Harland Sanders sold his first Kentucky Fried Chicken franchise inthe document he prepared for the first batch of franchisees was a mere two pages in length.

Things have changed a lot in the intervening years. Today, the extremely rigid Franchise Disclosure Document, which is proffered by a franchiser before any agreement is pursued, must contain a preordained list of 23 items.

Most franchise agreements run 75 pages or longer. Compared with these highly-formatted documents, a franchise business plan tends to be much shorter and focus on the dream.

It is prepared by the franchisee as an introduction to and overview of a business opportunity and can therefore be more flexible, says Gary Castrogiovanni, a professor at Florida Atlantic University's Adams Center for Entrepreneurship. Much like any traditional start-up business plan, a franchise plan should provide a company's vision, a financial analysis, and a marketing plan.

The main difference is that it must address in detail the economics of both the franchiser and the franchisees - and show how the parent and its affiliates will be able to make money together.

Here's how to read a franchise business plan with a trained eye. The Basics As with any business plan, you should expect to see several sections laid out in a franchise plan, including most vitally an introduction or abstracta management overview, a marketing strategy, detailed financial projections, and the financial requirements for investing in a purchasing a franchise.

Although it's easy to breeze through the first three sections, which lack financial projections or detail about your involvement as an investor, they can yield crucial information and you should spend time reviewing them. First, you will want to see if any material on the franchisor's website differs from the material in the business plan.

You also want to make sure many elements of the franchise's strategy match your company's culture and style. Keep an eye out for the business plan's description not only of the service and products involved, but the size and competitive nature of the business - and the challenges and risks involved.

business plan financial statements and projections

The business plan should be frank, thorough, and in tune with any additional research you've done on the market. Next, you'll typically come to a description of the management roles in the franchise, including information on the people who fill those roles in biographical form.

Again, you might want to do additional research - even just spend a few minutes on Google - to learn more about and verify the backgrounds of everyone involved. Where you would normally find industry analysis in a business plan, most franchise business plans typically include a franchise overview, along with a description of the market the franchise would be entering - and its competition.

These should be thorough, and lead seamlessly into a marketing plan. The plan should specify how territories will be carved up, and how many locations per territory a franchisee will be allowed or expected to open. Finally, a franchisor should convey a sense of culture and personality in his or her business plan.

Look for a franchisor to display confidence and ambition as well as a sense of loyalty to the prospective franchisees in the proposal. Will the Marketing Strategy Work?The financial statements themselves (the Income Statement, Cash Flow Projections, and Balance Sheet) will be placed in your business plan's Appendices.

Continue Reading Use This Template to Write a Simple Business Plan. The profit and loss statement. The profit and loss statement represents the relation of income and expenses for a specific time interval.

This statement is expressed in a one-month format, January 1 through January 31, or a quarterly year-to-date format, January 1 through March A business plan is all conceptual until you start filling in the numbers and terms.

The sections about your marketing plan and strategy are interesting to read, but they don't mean a thing if you. The format for projected income in your business plan is the same as for income statements in accounting.

The income statement starts with sales. Then it shows the direct costs associated with. It's at the end of your business plan, but the financial plan section is the section that determines whether or not your business idea is viable, and is a key component in determining whether or not your plan is going to be able to attract any investment in your business idea..

Basically, the financial plan section consists of three financial statements, the income statement, the cash flow. A well-written business plan should include a mission statement, business and management structure, a marketing plan and financial projections.

How to Write the Financial Section of a Business Plan | monstermanfilm.com