a business plan will indeed be required, but a few words of warning: your business plan not only needs to meet the criteria established by the small business administration for lending by private banks, it also needs to meet all of the criteria set up and enforced by the corporate parent of whatever franchise you’re applying for. in other words, while a three-year pro forma financial model and a good market analysis can suffice for some plans that us bank reviews, submitting dually to a corporate franchise owner requires some extra attention to detail.
how about any indirect competitors?• what does your swot analysis look like?• give precise demographic data for the 5, 10, and 15 mile site radius• how will you market aside from using corporate channels?the business plan for an ice cream franchise also has to show a personnel plan, define the market need fulfilled, look at the state of the industry currently, and completely describe every product you sell, even if that should be obvious to any reviewer. masterplans is the industry’s leading company when it comes to franchise business plans and our team can deliver a presentation-ready document to you in as little as 10 days.
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