Franchise is proposal is one of the requirements to apply a franchise for a particular business. It should contain necessary information to get the attention of the franchise owner. You should prove that you have the capability of running a successful business franchise. You should provide information such as your market knowledge, marketing skills, and financial background so that the franchise owner will evaluate you as potential franchise operator.
Here are some tips on writing franchise proposal:
• Know the requirements of the franchise
Franchise owner will provides requirement in order to avail his franchise including scope, benefits and funding requirements for the franchise as well as the training and experiences needed. Review each item and make sure that your proposal meets all these requirements.
• Develop an outline
Based on the requirements, make an outline that covers all the criteria. These outline may contains executive overview, managerial skills, marketing plan and analysis, financial projection, and organizational structure.
• Discuss Overview
Overview should provide information the approach you may plan in running the franchise. It outline experiences that will bring success in running the business such as the market potentials and competition in the area and the level of risk and financial forecasts for the startup and growth phases of the business.
• Share your experiences
Franchise owner should know your knowledge and skills. You may own or manages small business. Provide your experience in a short resume and achievements that are related to your franchise proposal.
• Introduce your team
If the franchise needs a management team, includes the resume of each member. Skills, knowledge, education, and other details relevant to your franchise should be included in the resume.
• Explain market potentials
Assure that there is a market potential in your area. Describe the existing demands in your area, list of competitors and demographic profile of the target market.
• Provide financial projections
You should show your financial forecasts such as initial investments, operating expenses and potential income. Also, the owner wants your financial position including personal net worth and your liquid assets.