Writing a business plan

First of all, congratulations for deciding to go in to business. The business plan is one of the first documents that you should complete.

Whether it is to apply for finance, attract a business partner or to give you a clear path to achieving your business dreams, ensure that your business plan achieves what you set out for it to do.

What needs to be covered?

Executive Summary

Think of this as a short paragraph as to what your business is and what it sets out to achieve. The purpose is to make your business proposition understood by others.

Business Description

Similar to the above, but in more detail describing the business purpose, the products/services it will provide and its overall structure to achieve the business goals.

Market Analysis

This section is dedicated to the research that has been undertaken to underpin the decision to go in to business. It includes market research, competitor research and customer research. It is useful to use a SWAT analysis here.

People & Processes

Here it’s useful to outline the people and processes that will be used to run the business effectively. Organisational charts and process maps are good to use here.

Marketing Plan & Sales Strategy

How will you attract customers/clients? In this section it is important to describe the activities that will take place to attract customers to enquire and then to buy.

Financials

Reveal the financial goals and expectations of the business in this section as this proves the financial viability of the business. Profit and loss, cash flow and balance sheets are good models to use.

The above should give you a few pointers when writing your own business plan. This is an exciting time for an entrepreneur and is the starting point for running a successful business.

If you require help with writing your business plan ahead of starting your ServiceMaster Clean franchise, speak to a member of the Franchise Sales team today on 0116 275 9005  

Meet the ServiceMaster Clean Contract Services Brand Leader

Guy Strang is the ServiceMaster Clean Contract Services Brand Leader and his journey with the brand started over 6 years ago. In that time, he has become an indefinite asset to the network in setting the direction of travel for the brand and maintaining brand integrity, as well as superior service standards.

Prior to working with our brand, Guy built up his previous experience in the commercial cleaning sector over 14 years, as such, he now has over 20 years’ experience in the sector!

With many years’ experience in coaching and motivating franchisees in the commercial cleaning sector, Guy helps business owners to achieve their KPI’s and keeping their momentum and energy ongoing throughout their franchise journey; ensuring that they are achieving their end goal objectives.

What is the role of a Brand Leader?

The role of a Brand Leader is vast. Not only is it their responsibility to maintain brand integrity, but it is to also ensure that franchise owners are supported in their business from a technical and operational perspective.

Brand Leaders are responsible for innovation, setting the direction of travel and researching and developing new initiatives to take their brand even further.

Above all, it is the Brand Leaders responsibility to champion the brand.

For more information on the ServiceMaster Clean Contract Services Brand from our Brand Leader, Guy Strang – call 0116 275 9005 or email franchisesales@servicemaster.co.uk to arrange a free, no obligation chat

It’s a common misconception that you have to be cash rich to buy a franchise business. Entrepreneurs from all walks of life are able to buy a franchise through inheritance, redundancy, savings and of course, through finance.

Getting your ‘house’ in order

Obtaining finance is made easier if you have a good credit history and have your business plan ready.

Your credit history is something that you nurture over time. It’s an opportunity to show the banks and lenders that you are creditworthy. I.e. you will pay them back what you owe them.

A good business plan should be a detailed plan of what the investment (money borrowed from the bank) will be used for and how the return on investment will allow you to pay the borrowed sum back.

Fortunately, lenders like franchise models, like ServiceMaster Clean because they tend to be proven and as such, are less of a risk to borrow against. 

How much do you need?

It’s a good idea to consider the amount that you’ll need to borrow. There are many things associated with the cost of the franchise that isn’t included in the ‘start up package’.

These typically include, office equipment, vehicles, premises, registrations and insurances. So, it’s important to factor in these costs so that you ask for enough finance to cover all aspects of the business, but to also leave some ‘afloat’ for unexpected costs and cash flow.

What to ask your lender

You should ask your lender about their credit terms, such as amount, duration, fees, rates, covenants and any payment holidays that you might be eligible for.

Sources of funding

Most major banks, including Lloyds, Barclays, HSBC, NatWest to name just a few, support the financing of franchise businesses. There are also some specialist lenders that will also lend to those with a good credit history and a strong business plan.

Finance can certainly open doors for those individuals who are looking at franchise opportunities without the full investment amount. Speak to your high-street bank or a franchise finance lender for further information.