November 7th, 2010 
admin “A franchise is more likely to succeed with a projected plan for all eventualities: If you fail to plan, you plan to fail…”
The old adage “If you fail to plan, you plan to fail” is especially important for first time franchisees. Those who understand the benefits of business planning are more likely to be successful and pro-active to management decisions, than are those who react to day-to-day operational issues. Franchisees who fail to plan strategically end up confronting problems head on and may be unable to manage the business effectively on a daily basis.
This type of business management can have a negative impact on the franchise, staff and other individuals involved in the operation. It can also leave very little time for any other business management concerns. Therefore it is necessary for franchisees to construct an effective business plan for their franchise system.
Your business plan will be the “sales document” for you and your business and its preparation should project the image of what you want for your business. The following is a useful guideline on how best to approach drawing up a business plan and the key terms it should contain.
1. Introduction
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