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Getting the business plan right

A guide to a well thought-out business plan which is a foundation for the franchisees success.

By Sub Editor, Franchise India Holdings Limited, Web Division
Getting the business plan right

A business plan is essential as it puts across your commitment and ability to carry out the business to the potential franchisor and the lenders. The potential franchisor will look out for the best franchisee which will be indicated by the business plan submitted by them. Making a business plan can be a cumbersome task but not only is it important for the franchisor; it is of greater importance for you- the franchisee. It will enable you to make an informed assessment of the business, the market, locations and competition etc.

Getting on track

So how should you go about formulating your business plan? What are the things that should be mentioned and which are the ones that are not required? Should you make it yourself or hire professionals? At first, you should make an effort to make the plan yourself and get the same reviewed from professionals but in case you don’t feel that you can do justice to the whole process, then you can hire business consultants and accountants. The whole idea is to be involved in the procedure because you are the owner and will be in charge of the business. This will also update you about the industry, help get a better understanding of the business aesthetics and get an insight of your role as a franchisee.

Essentials to be remembered

There are a lot of things that you should adhere to in order to suffice the franchisors requirements. These are:

  • The best plan is not the one which is lengthy but the one which is precise and contains all the necessary information. All the key areas need to be addressed in the finest possible way.
  • It is also very important to put across as to why you believe you will be successful in the business and have an edge over others.
  • The audience for whom the plan is intended need to be addressed.  
  • A SWOT analysis is a must letting them know about your strengths, weaknesses, opportunities and threats.
  • A market study highlighting the viability of the business in your location, competition, marketing plan etc. should also be included.
  • The business plan cannot be complete without the mention of the financial aspect. The investment that you will be making, the availability of funds, anticipated profit and loss form the most important characteristic of the business plan.

So you must address these key areas to emerge as a prospective franchisee.

Wrap up

The best plan for you will be the one which would portray and reflect your mindset and judgement. Put your best foot forward and leave the rest to the franchisor to decide!

SAMPLE BUSINESS PLAN

Table of contents  
1. Executive précis

  • Why are you a suitable partner   

2. Financial scrutiny

  • Total Investment
  • Probable cash flow
  • Anticipated profit and loss

3. SWOT Analysis

  • Strengths
  • Weaknesses
  • Opportunities
  • Threats   

4. Market Study

  • Location
  • Competition
  • Local marketing plan
Comment
manoj agarwal : 02, May 2010 at 07:57 AM
Its good but doesnt touches points for business plan for startup companies.
Subroto Das : 27, Aug 2013 at 11:19 AM
I would like to know for opening a new restaurant/food joints (only veg and without Alcohol) in Uttar Pradesh probably in Lucknow, which licence / registration/ NOC are required.Kindly provide authority name who issues such NOC/ licences, required time period for getting these licences and their fees / charges / expenses. Thanking you Subroto Das
Madhu : 18, Feb 2014 at 04:29 PM
Nice post, I bookmark your blog because I found very good information on your blog, Thanks for sharing.
SMITA SINGHAL : 11, Aug 2014 at 12:20 PM
Is there anyone who has information on whether food trucks is a valid and legal concept in India, especially in the NCR region. And if there are what are the guidelines in order to start one or the limitations of the same. Would appreciate some guidance for the same.
MANSING JAGTAP : 01, Sep 2014 at 12:22 AM
I would like to know for opening a new restaurant/food joints (only veg and without Alcohol) in Uttar Pradesh probably in Vadodara Gujarat, which licence / registration/ NOC are required.Kindly provide authority name who issues such NOC/ licences, required time period for getting these licences and their fees / charges / expenses.
munaf : 04, Sep 2014 at 10:11 PM
How much does it cost to have a license to open a restaurant?
dinesh : 23, Nov 2014 at 07:51 PM
Really very helpful article for me.
Dewang Rastogi : 28, May 2015 at 02:40 PM
I would like to know what are the licenses that are required for opening a restobar in Uttar Pradesh along with all the clearances required for the same and the information on the departments I should approach.
Bharat R Jangid : 10, Jun 2015 at 10:42 PM
Please let me know on the details for a new restaurant opening.
VIJAY : 28, Oct 2015 at 11:13 PM
IS LABOUR LICENCE IS NOT REQUIRED FOR THE RESTAURANT.CAN U PROVIDE THE INFO FOR THIS.
Ganesh : 29, Oct 2015 at 01:01 PM
I want to start a Cafe in Jaipur. What would be the complete procedure ? Thanks in advance
Gaurav Pandey : 30, Oct 2015 at 09:12 PM
Sir, I would like to thank you, your post is very informative. I am planning to open the restaurant in Delhi. Kindly allow me to ask one more question related to the article.
rupesh : 05, Dec 2015 at 04:00 PM
Hi sir, I want to open a new Chinese restaurant in thane..pls let me know the required license.
jyotirmoy : 05, Dec 2015 at 08:40 PM
To start a tiffin service to office and individuals, what are the required licensed to be obtained in Delhi?? Kindly enlighten..thanks a ton in advance
Sonu Singh : 06, Dec 2015 at 11:50 PM
I would say thank you for this because this is very important things that can make you some disappointed who want to open new restaurant business specially when dont know much about India.
Saugata Ghosh : 16, Dec 2015 at 01:12 PM
I want to open an Eating House in Kolkata with 294 sq. ft. area. I have a Trade license from KMC, Police License from Kolkata Police. I have also a Commercial water connection from KMC. Do I need food licence. What more license/permission do I need? If I want to use Commercial Gas what do I have to do? Also if I do not use Commercial Gas, but use coal what do I have to do? What is Town Gas?
pradipsolanki1986@gmail.com : 03, Jan 2016 at 10:07 PM
I am opening kathiyavadi resturant in petlad town di-anand plz send me total detail and licence process- thanks
Ajit : 06, Jan 2016 at 11:53 PM
Hi Sougata, I hope your restaurant business is running well. I want to open eatery in Kolkata soon. Need your advise.
laksh : 17, Jan 2016 at 09:47 PM
What is the total cost that i will have to pay to get all these 12 license?
akshay kannadkar : 21, Jan 2016 at 03:08 PM
I want 24 hrs licience for pure veg reastuarant...so if possibale wht is the process or requitment plz help me
Mahavir Rajput : 11, Feb 2016 at 11:45 AM
I am opening THALI resturant in Bharuch city plz send me total detail and licence process- thanks!!
Shashank Bajpai : 12, Feb 2016 at 02:31 AM
I want to start my small restaurant on boat, Can u advise me tha minimum cost for my star up in Varanasi.
Moksha : 03, Mar 2016 at 10:11 PM
Can you help me know which if these licenses are applicable for a cafe which will have a gas connection, oven, refrigerator and some basic heating devices? Also what are the costs for these licenses? Which taxes are applicable for this kind of venture?
anuj kumar : 31, Aug 2016 at 12:55 PM
hey......can u please tell me that eating house licence is applicable in chandigarh also????
Anirudh Yadav : 02, Sep 2016 at 09:26 PM
I want to start my small restaurant beside gujarati dharamshala, Can u advise me that in minimum cost for my start up in Varanasi. plz send me total detail and licence process
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sundaram : 08, Dec 2016 at 07:53 AM
for starting restaurant in Delhi/NCR
Sundaram : 08, Dec 2016 at 08:03 AM
formalities for starting Restaurant in DELHI/NCR
Dhiren Adalja : 12, Dec 2016 at 04:13 PM
My father wants to start a small restaurant business in Vadodara near our area so can you advise me that in minimum cost for my father's start up in Vadodara. plz send me the details process of.
Yatish Shah : 28, Dec 2016 at 12:16 AM
I am opening a small café in Pune near the railway station. Please advise on the licenses required. It's going to have a menu of sandwiches pizzazz and snacks
Punam Kadu : 24, Jan 2017 at 12:21 PM
My husband wants to start a small restaurant bar business in amravti near area so can you advise me that in minimum cost for my father's start up in amravti ,maharashtra plz
Bharath : 02, Feb 2017 at 09:25 PM
I am planning to start a Restaurant in Bangalore. Can I know the estimated Cost and the process for the same
metatrader : 18, Jul 2017 at 03:36 PM
I really appreciate this post. I have been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thanks again!
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