BUSINESS PLANNING & FRANCHISEE FUNDING PACKAGE
DESCRIPTION
How often have franchisees gone through the recruitment process, only to fall at the final hurdle when it comes to raising finance? Through many years of working with the banks to successfully secure franchisee funding, our system of preparing applications and business plans has been widely recognised as a major step towards removing this hurdle.
OUTCOMES
- Improved conversion of prospects to franchisees
- Better prepared franchisees, with a better understanding of their own businesses and cashflow requirements
- Shortened lead times from enquiry to signature of agreements
- Reduced risk of litigation from misrepresentation
- Greater numbers of higher-calibre franchisees recruited
- Reduced cost per franchisee recruited
- Better reputation within the banking community
- Increased franchisor revenue and profit
PROCESS
Audit
A review of the franchisee business planning process is carried out including:
- The proposed business model and projections used
- The cashflow requirements and guidance given to franchisees
- The current banking lending criteria
- The best deals available from individual banks
- The business planning process
- The bank application process
- The results achieved
- Current and desired timescales
Report and Implementation
You will receive a report detailing exactly how we can work with your prospective franchisees to ensure that they have the best possible chance of securing the bank funding they require. This will include a copy of the business plan template that has been developed to help them and support their funding application. Our role thereafter is up to you, but a number of franchisors have found it very beneficial to have us work with their prospective franchisees through the whole funding application process. This seems to strike the right balance between the franchisor being supportive but without spoon feeding a prospective franchisee a one size fits all business plan. At the same time prospective franchisees gain genuine benefit from the coaching received from an experienced business consultant throughout the process.
