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A blueprint reveals it all

The first step towards the franchise route is to prepare a franchise plan that gives complete information about your company and its franchise system. Read on to know more about it.

By Feature Writer
A blueprint reveals it all

A business script that carries all the information about the franchise system is advisable to be given to aspiring franchisees prior to the signing of the franchise agreement. It provides the prospective franchisees a history of the franchising company and the franchise operations. It is of great use for the franchisees as it helps them in careful analysis of the franchising business. Importantly, it must be provided to the franchisees at least 10-15 days prior to signing the franchise agreement. Let us study the components of this plan.

What is incorporated in it?

Despite the industry, size of the business, or any other factor, the franchise information document follows a simple format and contains similar information with specific business statistics. It includes:

  • History of the franchising company: The initial sections of the document must provide an overview of the franchising company. It should contain the information of the company’s history (i.e. from how long it has been into franchising, supports how many franchisees, facing any lawsuit). Additionally, you must give the information of any bankruptcy (i.e. information of the franchisee, who has failed, if any).
  • Listing the initial costs to start a franchise: As a franchisor, you must mention the franchise fee, royalties, marketing funds and other expenses in your franchise document. It helps the prospective entrepreneurs to decide accordingly whether to take up the franchise business or not.
  • Legal obligations of both the parties: It is beneficial for the franchisor to make it clear in advance the legal obligations to his franchisees. For instance, as a franchisor, it is obligatory for you to provide your franchisees with the necessary assistance, supervision and training. While on the other hand, it is the responsibility of the franchisees to participate in the actual operations of the franchise business, purchase or lease the land from the designated source or in accordance with the specifications.  
  • Statistics of the franchised business: There are certain financial aspects that you can include in the franchise information document. You can mention the annual profits of your company by providing the audited financial reports. However, it is not necessary to give concrete figures of the return on investment as it opens the company to legal accountability if a franchisee fails to live up to the written expectations. You have to be cautious while giving financial statistics of your franchising company.

Apart from these, the document must contain information about your current and previous franchisees, for how long they have been with the company, why they have terminated the franchise agreement (if any). This kind of information helps a franchisor in building a good image of himself and raises his merits.

Legal information to be considered

Being a franchisor, you must draft a franchise document (along with a separate franchise agreement) that contains legal information of your franchising business. Therefore, you have to keep in mind certain legal aspects while incorporating the information about exclusive franchise territory (if granted to the franchisees) and under what conditions the franchise agreement gets terminated. You have to specify these legal facets of your franchising business to make it run smoothly and profitably.

It is advisable to take help of a good attorney who has specialisation in franchising. He will guide you and enable you to come up with a comprehensive document carrying the precise information of your franchising company. The document plays a key role in expanding the business through worthy entrepreneurs.

Comment
Kundan Singh : 15, Oct 2012 at 10:59 AM
i want to open bakery business, please help me.
jitendra : 24, Dec 2012 at 06:35 PM
need to start a bakery business
can anyone help me for invest money for business : 13, Dec 2013 at 01:07 PM
i like to do partnership with anyone.
deepak kumar : 03, Jun 2014 at 09:42 PM
i want to open mr brown bakery shop in haridwar
deepak kumar : 03, Jun 2014 at 09:42 PM
i want to open mr brown bakery shop in haridwar
SADAF : 17, Jul 2014 at 12:18 AM
I want to know the proceedure of how to initiate in this business.
Amit Kumar : 29, Jul 2014 at 10:39 AM
How to get Mr. Brown Bakery Shop franchise? I have a commercial showroom space in a prime location in Lucknow and we do not have Mr. Brown in our Locality. Kindly help.
VINOD : 29, Jul 2014 at 11:32 PM
i have a 160 sqft owned shop in residential society in greater noida (U.P.) & want open Mr brown Bakery shop pls tell me about minimum investment . Thnx
Radhika : 24, Sep 2014 at 08:37 AM
I want to open a Mr brown franchise bakery . Kindly tell me how to proceed
sanjay : 10, Nov 2014 at 12:49 PM
i want to open mr brown bakery shop in haridwar
Amit Papreja : 22, Nov 2014 at 11:06 PM
Willing to take the franchise of Mr Brown in Delhi. Please send me details for the same
Siddharth : 25, Nov 2014 at 07:45 PM
Hi...i want to know the procedure of getting a franchise for MR.BROWN bakery...i have commercial space available in Chandigarh.
arun : 04, Dec 2014 at 02:10 PM
I would like to open a Mr brown bakery
vineeta : 08, Dec 2014 at 11:17 AM
Hello, I want to have a mr. brown franchise and i have read your requirements.... Kindly tell me your contact person along with his contact number
abhilash singh raghuvanshi : 09, Dec 2014 at 12:32 AM
I want to open mr brown bakery in varanasi
harish : 02, Jan 2015 at 09:01 PM
I want to open mr. brown franchise.I have a space in rdc rajnagar ghaziabd.please contact if inrested.
s c mishra : 05, Jan 2015 at 09:32 AM
i want to open bakery shop near saheed path in lucknow. request help.
a k gupta : 23, Feb 2015 at 11:52 PM
Any one intrested in opening his bakery shop or ice cream parlour On main raibareilly road near aryan restaurant and tunday kababi.
sukanya gupta : 25, Mar 2015 at 02:09 PM
i want to take the franchisee of mr. brown in lucknow. so please tell me how to proceed?? And send me all the details of the same..
PRADEEP SRIVASTAVA : 20, Apr 2015 at 11:02 AM
sir i want to open bakery business and want to franchise in lucknow. Please inform me if any. pradeep
MAITREYEE CHAKRABORTY : 20, Apr 2015 at 07:35 PM
i want to take franchises in bandel 40 km away from kolkata
Virendra Jain : 17, Jul 2015 at 04:52 PM
I want to have Mr Browns Bakery Franchise at Shekhawati Region, Sikar, Rajasthan. I have a commercial space at the prime location of Sikar. Sikar is the second most young students hub after Kota in Rajasthan.
Mohd Haneef : 20, Oct 2015 at 07:59 PM
Hello sir,I want to open Brown Bakery franchise in lucknow..I have a good space for bakery business in Lucknow city..kindly send me details. Thanks.
Puneet Verma : 12, Nov 2015 at 08:49 PM
Hi, I want to open Mr. Brown in Lucknow City, so please let me know what are the requirement to get the franchise of Mr. Brown.
kirti : 13, Nov 2015 at 02:11 PM
Hi,I am interested in opening a bakery in Lucknow. Would be great if you can give me some leads.Thanks,Kirti
shashank : 18, Nov 2015 at 05:14 PM
what is the investment in opening a franchise of mr.brown
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