Tag Archive: franchising

4 Skills You Need Before Opening A Business

September 13, 2017 8:37 pm Published by

Opening a business or purchasing a franchise can have its own challenges, make sure you have these key skills mastered: Communication: Whether you’re writing a business plan in preparation to talk to a bank manager, or you’re about to meet with franchisors you’ll need to be able to master your communication skills. Later down the line, you’ll need to communicate verbally and written to suppliers, employees, and colleagues so now is the time to perfect it. Project Management: Not only will you need to manage the launch of your business idea or franchise, but you’ll also need to be able to project manage your timeline, budget, staff and more. If project management isn’t one of your top skills, consider taking... View Article

What To Ask A Franchisor

August 24, 2017 4:56 pm Published by

You’ve done your research, looked at the financial reports and narrowed down your options to just a few franchises, which you feel passionately about and believe would be a good fit! How do you choose just one? Ken Waterhouse, founder and managing director of Home Care Preferred shares the important questions you should be asking your chosen franchise before making a commitment. How much will the investment be for the franchise? Ken explains that normally this information is supplied quite early on in the decision-making process, but it’s important to weigh up the pros and cons. Of course, you should also make sure you’re able to deliver the required investment before continuing conversations with the franchisor. How do you choose... View Article

What To Consider: Choosing A Franchise

August 15, 2017 3:15 pm Published by

You might already have chosen your franchise, or perhaps you’re just starting off on this journey, whatever stage you’re at this decision should not be made on a whim and you should carefully consider all of your options before making any big decisions. First and foremost, start by crafting a list to include the following; –      What are your interests? Think about the things you love, the things you’re passionate about! A franchise will become your business; use this opportunity to chose something you want to do for yourself and your future. –      Think about your budget! How much do you have and want to invest in the franchise? Include start-up costs in your budgeting so you’re well prepared for conversations with... View Article

A Guide to Preparing a Business Plan

May 31, 2017 11:09 am Published by

Your Business Plan is the ‘sales document’ for you and your business. It’s preparation and presentation should project the image you want for your business. Its content should be clear, concise, to the point and divided into logical sections. As a guideline, your plan should structure broadly as follows: 1. Introduction Describe the purpose of your Business, briefly outline the concept. Include YOUR overall business objectives. Decide on the ‘legal status’ of your business – sole trader, partnership, limited company or co-operative? All have benefits and shortcomings. Find out which is right for your situation. 2. The Product or Service Describe precisely the product or service that your business will offer. Include any relevant history of the product or service... View Article