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Executive Summary for Business Plans of Franchisees

Writing a business plan for a large corporation’s franchise to secure funding or find investors can be difficult because the franchisor already has a plan that works, but you don’t actually know the details until you learn about it when you buy. less. Franchisors must keep this information confidential to ensure competitors do not steal it, but franchise buyers need it to prepare a business plan in order to secure loans from banks. So there’s the Section 22 trap, and it’s further exacerbated by the existence of laws that prohibit certain types of disclosure, which many franchisors don’t want to make on the advice of their lawyers due to the litigious nature of franchising. so what do you do Well, you can use UFOC, Uniform Franchise to provide notice or ask the franchisor to send the business plan directly to your banker who signs a nondisclosure waiver and you don’t see it until you buy.

However, if you are looking for private investors, they will want to see a business plan, so you will have to try and put one together. I bought 12 books on how to write a business plan and there are hundreds of complete business plans; all samples have nothing to do with franchising businesses. So find below an example of an executive summary, the most important part of any business plan and probably the most read by all bankers. I am one of some entrepreneurs who accuse bankers of being illiterate. I recommend that you read this article and use it as a model to develop your own executive summary for your franchise store business plan. This particular example was written for a mobile car wash franchise, but it’s a good one for you.

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The Car Wash Guys of Fairfax, VA is an owner/operator services company. This will be a franchise of Car Wash Guys International, Inc. This sole proprietorship is in the mobile car wash business.

Our mission is to achieve a minimum 2.5% and a maximum 10% market penetration while uniting the entire community. To achieve this, we will use unique local and regional marketing tools provided by our experienced franchisors in this field.

Our franchisors have over 20 years experience in the mobile cleaning industry. We are purchasing a turnkey business from Car Wash Guys International, Inc. for $65,380. The purchase will include:

· Trucks with custom truck bodies

· Portable car washing equipment

· Computers, printers, business software

· Client lists, routes and client groups

· Liability insurance down payment

· Medical and health insurance down payment

· Licensing and training (80 hours total)

· A complete operating guide for franchise period loans

· Starting supplies (wax, soap, etc.)

· Portable mobile phone with card reader

· Uniform supply of crew

· Personal planner with computer software backup

· Exclusive territory

· Initial in-depth marketing blitz

Joining The Car Wash Guys team requires a $20,000 franchise fee, which is also included in the $65,380 fee.

Our target market is anyone with a dirty car. Our other markets are:

· Aircraft cleaning

· Wash the boat

· Fleet Wash

· Graffiti removal

· Concrete cleaning

· Industrial high pressure cleaning

We will charge $5.00 for basic exterior cleaning, $10.00 for in and out cleaning and $37.50 for minor automotive details. Most of our clients will be office workers. 15% of our business will be small to medium fleets of 5 to 100 cars, trucks, vans, etc. 20% of our business will be industrial cleaning.

We will market with other local businesses in a cooperative situation. Other marketing is hosting car wash fundraisers for children’s groups.

Our car wash crews will be wearing matching yellow uniforms. They will be clean, articulate, knowledgeable and friendly.

We will purchase our products from the franchisor via modem and credit card for next day UPS delivery.

We plan to eventually expand to up to five mobile car wash vehicles over the next five years, each averaging $6,000 to $8,000 in gross revenue per month. The royalty we pay to the franchisor is $35.00 per day multiplied by 21 business days per month ($735.00 per month). Each additional truck will be paid a royalty of $20.00 per day or $420.00 per month. Car Wash Guys International, Inc. will provide the following ongoing support:

·Personnel training for each vehicle

· Regional Troubleshooting Leader

· Backup truck in case of breakdown

·Fighting competition (intensive class)

· Assist in community support activities

·Free consultation (any operational matters)

· Updating manuals and computer programs

· Regular Newsletter

·Maintain main contract bidder list

· Leads (from their direct mail program)

·Financial report preparation

Assistance in finding additional funds for mobile car washes and personal belongings (house, car, etc.)

There are small mobile beauticians on our exclusive territory. Our service, quality and price are more attractive to our target market. Our operating methods are far superior to those of our current competitors. Generally, all competitors listed on the Yellow Pages and those we spoke to and observed admitted that they had only been in the industry for a few years and did not intend to pursue it as a career. Further observation shows that there is more than enough business for everyone.

Our long term goal is to wash the cars of 1 in 10 car owners in our town. Ten percent market penetration can be achieved if we follow our franchisor system perfectly. We want to be the number one franchise in the entire system. We plan to renew our franchise agreement every five years for free. We do this by maintaining good standing with our franchisors and following their proven operating methods.

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