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• Copyright and registered trademark is the usage of the brands and products/special services/method of production etc. Patented by the franchiser are authorized to the franchises and will be protected from abusive usage by potential customers.
• Advertising/marketing fund is the monthly fee paid by the franchisee for a common fund, managed by the franchiser for promoting the brand.
• Ufoc/disclosure statement is the uniform franchise offering circular is the disclosure document that provides the information about the franchisor and franchise system to a prospective franchise.
• Master franchise agreement is an agreement where the franchisee is given more rights that an area development agreement; such as sub-franchising or the right to sell franchises to other people within a territory.
• Area development franchise agreement is an agreement where the franchisee has the right to open more than one unit during a specific time, within a specific area.
• Multi-unit franchise agreement is an agreement where the franchisor grants a franchisee the rights to operate more than one unit.
• WHAT ARE THE BUSINESS PLAN PROCESS - EXECUTIVE SUMMARY , COMPANY DESCRIPTION , MARKET ANALYSIS , PRODUCT OR SERVICE OFFERING , MARKETING AND SALES STRATEGY , FINANCIAL PROJECTIONS , OPERATIONS AND MANAGEMENT , IMPLEMENTATION PLAN , RISK ASSESSMENT , APPENDICES AND SUPPORTING DOCUMENTS
• The business plan process typically follows a series of steps to ensure a comprehensive and effective plan.
• Executive Summary: This is a brief overview of your business plan, summarizing key points such as your business concept, target market, competitive advantage, and financial projections.
• Company Description: Provide a detailed description of your company, including its mission, vision, and values. Explain what sets your business apart from competitors.
• Market Analysis: Conduct thorough research on your target market, industry trends, and competitors. Identify your target customers and their preferences. Use market data to support your analysis.
• Product or Service Offering: Describe your products or services in detail. Explain how they meet the needs and preferences of your target market.
• Marketing and Sales Strategy: Outline your marketing and sales approach. Identify your target audience and develop strategies to reach and engage them. Describe your pricing strategy, distribution channels, and promotional activities.
• Financial Projections: Present your financial forecasts, including revenue projections, expenses, and cash flow. Use historical data, market research, and industry benchmarks to support your projections.
• Operations and Management: Explain how your business will operate on a day-to-day basis. Discuss your location, facilities, equipment, and suppliers. Outline your management team and their roles. If you're starting a restaurant, you might describe your kitchen setup, staffing requirements, and supplier relationships.
• Implementation Plan: Develop a timeline and action plan for launching and growing your business. Break down tasks, assign responsibilities, and set milestones.
• Risk Assessment: Identify potential risks and challenges that could affect your business. Develop strategies to mitigate these risks and outline contingency plans.
• Appendices and Supporting Documents: Include any additional information or supporting documents that are relevant to your business plan. This may include market research reports, resumes of key team members, legal documents, and financial statements.