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DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Jan 26, 2011 11:54 PM
If anyone has done one of these for their company, I would greatly appreciate any advice on how to do it, how specific to get, etc. I have a meeting monday at 2 with the owners of a bar and I'm trying to franchise it. I pitched my idea and they loved it, and told me to get together a business plan. So I ask any of you, got any advice? PM or here would be great
Jan 26, 2011 11:54pm
THE4RINGZ's avatar

THE4RINGZ

R.I.P Thread Bomber

16,816 posts
Jan 26, 2011 11:58 PM
Get an outline of one, or a model to follow online. I am sure there are hundreds available. Just follow the.guide and explain yourself and fill in the numbers with realistic projections.

You could also find some actual business plans written by first time franchisors for help with finding some.challenges you may not anticipate
Jan 26, 2011 11:58pm
O-Trap's avatar

O-Trap

Chief Shenanigans Officer

14,994 posts
Jan 27, 2011 12:01 AM
I had to do this for my former company.

Essentially it was pitched like this:

1. Similar lines and their success rates, including estimated ROIs based on market trends
2. Startup and maintenance processes
3. Startup and ancillary maintenance costs
4. Long-term projected ROI for the project

In a nutshell, that was it.
Jan 27, 2011 12:01am
DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Jan 27, 2011 12:04 AM
THE4RINGZ;654847 wrote:Get an outline of one, or a model to follow online. I am sure there are hundreds available. Just follow the.guide and explain yourself and fill in the numbers with realistic projections.

You could also find some actual business plans written by first time franchisors for help with finding some.challenges you may not anticipate

Not to sound like a dick, but I'm not retarded. I have already done that obviously, and got a basic outline of my shit. I'm just trying to get first hand advice, if any, from people who have done it before successfully.
Jan 27, 2011 12:04am
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 27, 2011 12:40 AM
I have written three business plans. (I provide a draft someone else prepared the final grammar text document)

The more detail and more information …. is impressive ( but the banker will glance over those detail) and go straight to the financials
The four year extended financial is critical … that what the banker, accountant and investor will grinded their teeth on. This is the most difficult aspect (how do you project the future)????
Do your research of other operation as your example of growth …false number is a killer in a business plan and the money guys look for this.

If you’re planning on preparing a business plan by Monday …. Good luck
If you don’t know the business inside and out with cost and operational expenses, salaries, rent, taxes, equipment purchases ……. You many want to step back three weeks and get it right the first time but a poor business plan you don get a second chance, you only have one shot to get it right with this one investor…
Jan 27, 2011 12:40am
I

I Wear Pants

Senior Member

16,223 posts
Jan 27, 2011 12:50 AM
I did a business plan for a class last semester. Ended up being 46 pages. That's not really helpful but is a cool story.

Just research the hell out of it.
Jan 27, 2011 12:50am
O-Trap's avatar

O-Trap

Chief Shenanigans Officer

14,994 posts
Jan 27, 2011 1:00 AM
I Wear Pants;654892 wrote:... is a cool story.

Bro.
Jan 27, 2011 1:00am
I

I Wear Pants

Senior Member

16,223 posts
Jan 27, 2011 1:06 AM
Twas what I was getting at.
Jan 27, 2011 1:06am
Murdski99's avatar

Murdski99

Senior Member

399 posts
Jan 27, 2011 2:20 AM
just dont fuck it up ya jackass
Jan 27, 2011 2:20am
Thunder70's avatar

Thunder70

Senior Member

748 posts
Jan 27, 2011 8:37 AM
I also had to do one for a class. Ended up being 30 or so pages. Worked a good three months on it.
Jan 27, 2011 8:37am
DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Jan 27, 2011 3:01 PM
Belly35;654885 wrote:I have written three business plans. (I provide a draft someone else prepared the final grammar text document)

The more detail and more information …. is impressive ( but the banker will glance over those detail) and go straight to the financials
The four year extended financial is critical … that what the banker, accountant and investor will grinded their teeth on. This is the most difficult aspect (how do you project the future)????
Do your research of other operation as your example of growth …false number is a killer in a business plan and the money guys look for this.

If you’re planning on preparing a business plan by Monday …. Good luck
If you don’t know the business inside and out with cost and operational expenses, salaries, rent, taxes, equipment purchases ……. You many want to step back three weeks and get it right the first time but a poor business plan you don get a second chance, you only have one shot to get it right with this one investor…

So you don't think I'll be able to get it done by monday? Would it be rude or wrong in any way to ask for a delay on it?
Jan 27, 2011 3:01pm
Bigred1995's avatar

Bigred1995

Ohio Chatter - CFO

1,042 posts
Jan 27, 2011 3:28 PM
DeyDurkie5;655379 wrote:So you don't think I'll be able to get it done by monday? Would it be rude or wrong in any way to ask for a delay on it?

I've only done one business plan and that was for a class; when I saw that you wanted to have it done by Monday, I thought, "No way will it be worth anything". I'd ask for an extension. I don't think it'd be rude, especially if you explain why you need the time!
Jan 27, 2011 3:28pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 27, 2011 3:29 PM
DeyDurkie5;655379 wrote:So you don't think I'll be able to get it done by monday? Would it be rude or wrong in any way to ask for a delay on it?
I think if you're honest about wanting to present the best presentation business plan with the most accuracy, and the importants of getting the numbers correct, the investor would appreciate your honest attitude and respect your efforts.
It is important to get it right for both parties…. A week or more of additional research now will prevent a huge problem later.

Go to your local SCORE office that can help you…

I think your overly excitement and emotions made you say something in haste …. Keep in control of yourself and the situation.

Good news is this if they are willing to wait a week or two then you sold them on the idea ( step I competed) now keep the momentum moving with a strong Business Plan…

Please note: I have had three of the best Business Plan and was reject .. many, many times.
……………….If you believe in your idea then you haven’t failed………….
Jan 27, 2011 3:29pm
DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Jan 27, 2011 4:19 PM
Belly35;655410 wrote:I think if you're honest about wanting to present the best presentation business plan with the most accuracy, and the importants of getting the numbers correct, the investor would appreciate your honest attitude and respect your efforts.
It is important to get it right for both parties…. A week or more of additional research now will prevent a huge problem later.

Go to your local SCORE office that can help you…

I think your overly excitement and emotions made you say something in haste …. Keep in control of yourself and the situation.

Good news is this if they are willing to wait a week or two then you sold them on the idea ( step I competed) now keep the momentum moving with a strong Business Plan…

Please note: I have had three of the best Business Plan and was reject .. many, many times.
……………….If you believe in your idea then you haven’t failed………….

I definitely believe in my idea, but I have only ever done this for class. So it's kind of weird thinking about doing it in less than a week for a real business.
Jan 27, 2011 4:19pm
darbypitcher22's avatar

darbypitcher22

Senior Member

8,000 posts
Jan 27, 2011 5:09 PM
Good luck with it. Like someone said, my experience with professors is they tend to read a ton on the financial side
Jan 27, 2011 5:09pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 27, 2011 7:03 PM
darbypitcher22;655508 wrote:Good luck with it. Like someone said, my experience with professors is they tend to read a ton on the financial side
That what it all about .. financial side ............ everything is the wrapping paper...
Jan 27, 2011 7:03pm