How to Assess different Franchise Offers and Opportunities

There are so many different Franchises out there. How do you choose which one is the best for you? Here is a proven Franchise Analysis to help you along the way. As  Turnaround Specialists I recommend customizing your Franchise Assessment similar to this checklist.

Start with Developing a Detailed Franchise Analysis Checklist

Questions About the Franchise

• Has your attorney approved the franchise contract?


• What legal grey areas have been identified?


• Will you have exclusive territory?


• Does the franchiser work with any other franchise handling similar products and services?


• What are the Franchise Contract termination penalties?


• If you sell your franchise, will you be remunerated for goodwill?

Questions About the Franchiser

• Does the Franchiser provide a well thought out  Business Turnaround Plans?


• Have you determined the franchiser’s primary focus?


• How have franchisees in the past run into trouble?  Difficulties?


• What skills franchisees need most?


• How are conflicts resolved?


• Request the bios of Top Management.  Do they have entrepreneurial backgrounds?


• Do the franchiser’s earnings claims differ from their Franchiser Disclosure (FDD)?


• Has the Franchiser executed detailed due diligence on your qualifications?


• How many years has the Franchiser been operating?


• Does the franchiser have a reputation among the franchisees, competitors and business world for honesty, integrity, accountability and fair dealing?


• Has the franchiser shown you certified and audited financials on franchisees in your region and area which you can validate? 


• Will the franchiser provide good training programs for your key employees, executives and management?


• Does the franchiser furnish a strong Strategic Plan?


• Does the franchiser provide any Capital or Credit?


• What selling Programs and Training does the franchise offer?


• Will the franchiser assist with site location?


• Does the franchiser have adequate financial support to implement its Franchisee Plan?


• Does the Franchiser have a highly trained and experienced management team?


• What can the Franchiser bring to the table which you can’t adeptly do yourself?


• Has the franchiser complied with State Laws in the past?  What State Laws are in place regarding Franchise Sales?

Questions for the Franchisee

• Have you determined how much cash you will need to purchase the franchise and operate for an extended time? Have you determined the equity needed to operate the franchise until breakeven?


• Where will you get the Equity Capital?


• Are you prepared to give up some independence for the advantages offered by the Franchiser?


• Do you believe you have the qualifications to succeed as a franchisee?  What other Personnel resources can you provide?


• Are you prepared to spend a majority of your business life with this franchiser?

Questions About the Market

• Does an adequate market exist in your area?


• Will the market support the price level of the franchiser’s products and services?


• What are the population demographic trends for your territory over the next 5 years?


• What will be the demand for your product and service in 5 years?


• What is the non-franchise and related franchise competition in your territory and region?


• Will the Franchiser help you develop a Marketing Plan?

Examining Franchise Opportunities

• Figure out which franchises are growing the fastest and why.


• Research market growth possibilities.


• Consult Entrepreneur Magazine for its comprehensive Franchise 500 Listings.


• Utilize the U.S. Commerce Department’s Franchise Opportunity Handbook, which is published annually.


• Contact the International Franchise Association for assistance.

About The Article Writer – Frank Goley with ABC Business Consulting

Frank Goley has a diverse and varied experience base as a business consultant, business turnaround consultant, business plan expert, business plan writer, business coach, small business consultant, business planner, marketing consultant, online marketing consultant, seo consultant, and business plan consultant for ABC Business Consulting. Frank is considered an expert in writing, developing and implementing business plans, business turnaround plans, funding business plans, marketing plans, strategic plans and web marketing plans. Frank offers comprehensive business consulting, business coaching, business turnaround consulting, along with web seo, web development and web marketing consulting, to small and medium size companies. Frank is the author of Business Plan Book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 115 published articles and e-books on business success strategies. He also writes the Business Success Strategies Blog and publishes the Business Success Newsletter.

How Not To Spend Your Money

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Types of Franchise Systems

A Franchise arrangement can be a very effective way to open and operate a small business concern, especially for those without a lot of experience in operating and owning their own business. There are many advantages in using a Franchise System, such as, turn-key operations; an established Marketing Plan; large corporate support; lower learning curve; established accounting, cost control and management systems; a strong Strategic Plan; brand identification; training programs; national and regional advertising; customer service programs; market trend responsiveness; supplier and vendor discounts; among others. However successful Franchise Systems are expensive. The fees / costs consist of a franchise fee, royalty fees and start-up costs.  So it is very important to have a solid due diligence process in place to determine if a particular Franchise Opportunity is right for you, and whether the costs to establish and run the franchise match the effectiveness of the Franchiser’s Package Offering. As  Business Plan Writer I recommend that you take the time understanding the types of franchise systems, how they work, their pros and cons, etc before you get into a particular franchise.

The Different Types of Franchising Systems

Product & Service and Trademark Franchises

The franchisee is given the right to sell a well branded product or service. Most of these franchisees will concentrate on selling one franchiser’s product or service offering, thereby indentifying and branding their business with the franchise. Examples include:  Automobile Dealerships, Gas Stations, Soft Drink Bottlers, etc.  The franchiser exercises little control over the franchisee’s business, with the product/ service integrity being the preeminent concern of the franchiser.

The Structure and Responsibilities

-- Franchiser provides a Standardized Product

-- Franchisee Pays Franchise Fees and Responsibilities include:

• Marketing                   


• Training


• Control System


• Operating System


• Accounting System


• Building, Equipment, Signage

Business Format Franchises

The franchiser grants the franchisee the right to utilize a marketing system that is proven and turnkey. Substantial guidance and assistance is provided by the franchiser.  Types of franchises include Restaurants, Retail, Hotels, Business Services; Automotive Products, Parts and Services; Convenience Stores; Entertainment Centers and so on.

The Structure and Responsibilities

-- Franchiser provides:                                 

• Building Plans


• Equipment & Signage


• Marketing System


• Business Plan


• Operating System


• Training Personnel


• Accounting System


• Control Systems

-- Franchisee provides:

• Fees


• Compliance


• Reporting

About The Article Writer

Frank Goley has a diverse background as a business consultant, business turnaround consultant, business plan writer, business plan expert, small business consultant, business coach, business plan consultant, marketing consultant, business planner and online marketing consultant, and seo consultant for ABC Business Consulting. He has been helping companies to succeed for many years. Frank wrote his first business plan over twenty years ago. He is an expert in developing business plans, marketing plans, funding plans, strategic plans, turnaround plans, web marketing strategies, and project specific business plans. Frank is the author of a business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 140 published articles and e-books on business success strategies. He also writes the Business Success Strategies Blog and publishes the Business Success Newsletter. Frank has also written articles on  How to Write a Strategic Plan.

10 Ways To Make Money Online

When you're thinking that regarding On-line Marketing, what do you think that of first? That issues of On-line Selling are important, which are important, and that ones can you are taking or leave? If you are looking for a complete blueprint for internet marketing you should check out my Epic Traffic Systems Bonus package. You be the critic.

1. Retail more back finish product to your existing customer base. You previously made link, hope and proved your credibility to them.

2. Make it a observe to up sell to latest and existing customers. When they settle on to shop for one product, provide them another product.

3. Cross advertise your product and services with other businesses that are not competition. You will reach a wider addressees at fewer cost.

4. Create joint business enterprise deals with different businesses. You can expand your product line and target alternative profitable markets at a lesser cost.

5. Start an associate program for your business. You'll be ready to pay less profits on risk promoting and pay more money on certain sales. I have faith in that what you've got read thus so much has been informative. The following section should go a long manner toward clearing up any hesitation which will remain. If you would like to learn how to harvest large amounts of traffic and send them to your sites to increase your online income quickly using comprehensive internet marketing strategies then take a look at what Keith Baxter and Jon Shugart have to say in my Epic Traffic Systems Review.

6. Trade publicity with other businesses to avoid wasting revenue. You'll trade e-zine advertisements, banners ads, links, print ads, etc.

7. Out source part of your workload. This may save on employee costs, equipment costs, taxation costs, expansion prices, etc.

8. Add low cost bonuses to your supply that have a high perceived value. It could be ebooks, members solely sites, consulting, e-reports, etc.

9. Use viral marketing to promote your business on the internet. Offer away free stuff along with your ad copy embrace on it so others can offer it away.

10. Follow up with all of your prospects. You can use a free e-zine, a follow-up autoresponder , an update or reminder list, etc.
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What is a Good Length for Your Business Plan?

Business Plan Length

A Comprehensive Business Plan will typically be over 50 pages and can be upwards of 100+ pages.  This is highly dependent on the size, scope and sophistication of the business, venture or project.  From the Comprehensive Plan it is a simple task to form your Ancillary Plans, such as a Funding Business Plan.  Ancillary Plans typically are no more than 30 pages with 20-25 pages being the goal.  Ancillary Plan brevity forces you to decide what is most important and all important(p) for the type of plan and the intended audience.

Business Plan Writing and Development Time

300 Hours would be the maximum in most circumstances with 75-100 hours being a typical range.  Again this depends on the scope and complexity of the Business Project. If you use the services of a  Business Plan Writer, then you can share the time estimation roughly 50-50.

Packaging

1)     Clear Front Cover, Dark back cover, bound

2)     Cover distinctly denotes the Type of Business Plan (i.e. Funding Plan), Your Company Name and name of the Venture Project.

3)     First page should contain any Disclaimers, Non-Disclosure Requirements and Proprietary Protections. 

4)     Table of Contents

5)     Organized by Sections

6)     Cover Letter accompanies the Plan with Hot Button highlights for the specific reviewer.

7)     Use a Long Version Executive Summary, Fact Sheet, Venture Overview, Investment Overview and / or  Loan Summary (as applicable for your type of deal and targeted reader) to solicit interest.  Follow up with the Business Plan if serious interest is obtained, after having your Non-Disclosure Agreement signed (if applicable and really necessary—unnecessary NDs turn off potential investors).

8 )     Neat.  No sloppiness or errors.  Good Grammar and Punctuation.

9)     Use concise language.  This is a business document, not prose.  Don’t be too technical for external plans.

10)  Have paper copies, email version and online versions.  When sending a Paper Copy to someone, also include a DVD so different parts can be printed off as requisite for department or committee review.

11)  Keep your Loan Package and the Business Plan as separate documents.  The Loan Summary should accompany the Loan Package and the one sheeters (Venture Overview, Fact Sheet and Investment Overview) should accompany the Business Plan (these summaries can be used as standalone documents as well).  

12)  Package is specific to the audience.  Include Sections specific to that audience’s requirements and interests. Each Business Plan is packaged and edited for the Type of Plan and customized for the audience.  Select the particular sections from your Comprehensive Plan and adjust as necessary to target the audience and use.

13)  Some examples of specialty / ancillary Business Plans:

a)     Funding Business Plan:  i.e. for Lenders, Venture Capitalists, Investors, Finance, etc.

b)    Strategic Plan:  i.e. For the Strategic Planning Team, Sales director, Strategic Partners, Suppliers, Customers, etc.

c)     Marketing Plan:  Internal Company Version and External Version (i.e. for Customers).

d)    Sales Plan: blend the applicable parts of the Strategic & Marketing Plans for your Sales Division.

e)     Supplier Plan

f)     Customer Plan

g)    Distributor Plan

h)     Government Relations Plan

i)      Public Relations Plan

j)      Technical Plan

k)     technology Plan

l)      Joint Venture Plan

m)   Strategic Alliance Plan

n)     Product Development Plan

About this Article Writer

Frank Goley is a business consultant, business turnaround consultant, and business planner for ABC Business Consulting. Frank is an expert in writing, developing and implementing business plans, business turnaround plans, business funding plans, marketing plans, strategic plans and web marketing plans. Frank offers comprehensive business consulting, business coaching, business turnaround consulting, along with web seo, web development and web marketing consulting, to small and medium size companies.. Frank is author of the business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 120 published articles on business success strategies. He also writes the Business Success Strategies Blog.

Proven Email Marketing Tips for Higher Conversions

The summary of online marketing is email marketing. From this you are able to target specific email lists and get a lifetime value of subscribers. Through numerous ways you can use email to get an amazing response from subscribers. The largest benefit is that you also have the ability to experiment with new strategies, research your target market and reach people directly to make more profits. Below are some tips to help you get started with your own email marketing. internet marketing empire

Unless you're sending a newsletter, it's important you must keep your message very focused. Many reasons are part of your prospect losing interest and for that reason it is best to keep your message on point. The more information you put into your message, the higher the chance your readers will just delete it. Your goal is to have the reader interested and to act on that interest. It is important that you lay out the best benefits in the headline and in the first set of lines of your email. This would serve as an appetizer and the reader would want the main course. When sending your newsletters there will be times that you would want to also give bits of helpful information in them. This is when you can have various relevant pieces in one place because your aim here isn't to focus on one message but deliver the whole newsletter. The purpose of the email will totally decide how your email should be targeted. It is then important that you decide on whether you wish to make the prospect take action or to just deliver information.

It's entirely up to you, but you may want to use the option for requiring your subscribers to double opt-in when they sign-up to your list. You should always have a double opt-in in place because people nowadays subscribe to an email list and forget that they did. So in case they forget they signed up, you can easily prove that they did. This is why you have to take precautionary measures such as the double opt-in process where it ensures that you're on the safe side when marketing with email. Some people think it looks more professional, and maybe it does so it won't hurt to do it. You'll be providing an extra layer of defense, and there's never anything wrong with that.

internet marketing empire You should also keep in mind that most email subscribers can access a preview window that shows them part of any email message that they highlight from their inbox.

So always aim to have some interesting/intriguing content in the beginning of your email so that you'd be able to grab your subscriber's attention and push him towards reading the rest of the email. So people seeing a preview will get a snapshot of your whole offer and then if they want to know more they have to read the whole message. You can get more return on your email marketing campaigns if you apply the above strategies. Remember, though, that you have to take consistent action if you want to see results.

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Check Out These Autoresponder Tips To Get The Most Out Of Your Email Marketing

Your marketing campaigns are absolutely dependent upon autoresponders to work properly. It is at this point that your sales channel starts and it is also where you have the opportunity to check on your prospects and follow up with them later. Studies have shown that a person needs to be exposed to an offer some 7 times before they will actually take any action about it. And you have to be consistent. You will need to build a relationship of trust by offering real and valuable content through the use of email messages sent to your prospects. Do not make your e-mails long with content, instead you need to get straight to the point in short paragraphs. Since to goal is make sure they remember you, they should be sent out in intervals of 2 to 3 days. You really run the risk of being labeled as spam if you rarely approach your prospects with your emails, you definitely don’t want to lose customers to inconsistency. However, you really don’t want to overwhelm your prospects by sending too many email messages, as they may unsubscribe from your list, again something you do not want. Boost your Sales dramatically with Opt In Email Marketing Services!

First, make sure your autoresponder is well equipped with your sales pitch and relevant information about your business. The real trick of bringing in conversions lies in striking the right balance between what you sell and what you give away. You’ll need to find that just-right blend to sell your product. The next thing you’ll need to consider is timing; you’ll want to make sure that your automatic emails are going out on a suitable schedule, whether you’re sending a newsletter, updates or podcasts. You don’t want to have your prospects come to you complaining about being bombarded by emails. It is important to respect your prospects and assist them without crowding them in a way they do not appove of. Make sure they remember you, but do it in a way that is considerate to them. When you use these types of emails with an autoresponder, you need to give some thought about the scheduling of them if you want to have a successful campaign. The autoresponder runs in concert with the other parts of your business, so this means that you will need to upgrade your strategies over time. Its also important to include a personal touch when using an autoresponder. Be sure to make your efforts real and give them a real human touch. It is better to be on a more personal level than to go about things in a mechanical way. Your newsletters or Ezines should be addressed to the first name of your subscriber. Keep an eye on what your prospects are saying and lend an ear to their needs so that you can fulfill them. You can also make your subscribers feel more at home by letting them personalize their subscriptions to your emails. Opt In Email Marketing Services are not that complicated-Sign up NOW!

An autoresponder can help you earn bigger profits if you focus on testing. This is why you need to test out your email copy. Let’s say you’ve built up a a list of some 5,000 subscribers – so you choose 500 subscribers to fire a different email copy to, and then see which one of them coverts the best. Once you determine which email has the highest conversion rate, you can send that one out to the rest of your list and feel confident that you’ll be getting the best results. With the help of an autoresponder, your backend profits will start to skyrocket. Your front-end profits will only form a small part of your overall income, which makes autoresponder an important tool you can’t ignore. Click Here for more information about Opt In Email Marketing Services!