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Showing posts with label Plan. Show all posts
Showing posts with label Plan. Show all posts

Sunday, August 24, 2014

Finance Your Franchise Business Plan And Your Peers Loan

Business establish and funding your franchise business is no easy task regardless if you are just starting out or looking to grow an existing business.

Banks and other traditional lenders - while they do like franchise businesses for several reasons like proven track records, experience and huge brand recognition - are still not jumping up and down to fund these organizations. And, it might not be due to the franchise industry itself but more to do with the financial markets in general and lenders just not wanting to take any risks at all.

Even the SBA - a huge backer of franchise businesses - are at the mercy of banks and other preferred lenders when it comes to funding (or not funding) franchisees.

So, where does a current or potential franchise business owner turn to start or grow their business?

Look To Your Peers

Peer-to-peer lending - organically started in the United Kingdom (UK) - is more about helping individuals get low cost, non-bank loans from people just like you. Peer-to-peer lending works like this. Savers (those with additional money that they want to invest in ways that provide them some type of return on those funds - more than banks are currently giving) will sign up on a platform to look for other individuals that are seeking loans for personal needs - like consolidating debt, taking a vacation, fixing a vehicle or covering emergency needs.

The person wanting a loan also signs on to the platform, gets to tell his or her story and, after being scored by the platform, gets many different savers (individual lenders) to fund their request.

It is faster, cheaper and with a lot less hassle then a bank or other traditional lenders - if those sources would even approve your loan request that is. And, these platforms look beyond credit scores when making decisions.

So, what does this do for businesses or franchises as these peer-to-peer loans are for personal needs?

Peer Loans For Franchises 

Again, started in the UK but now in North America, a company decided that they wanted to take the peer-to-peer lending industry to the business world. Thus, this company, Funding Circle, created a business loan peer-to-peer platform for both conventional businesses and franchises.

The platform offers franchise loans from $25,000 up to $500,000 - to be used to start or grow your business. These loans offer rates from 9.99% to 20.99% and can come with terms of three to five years.

Not bad for a business loan - try to get that from your bank!

From the platform;

"Full application takes less than 10 minutes and applicants receive pre-approval confirmation within 48 hours and the money in their account within 5-14 days of submitting the application."

And, according to their website, the company has put out over $525 million in small business loans worldwide.

Lastly, Funding Circle is not alone. Lending Club, a U.S. based peer-to-peer lender is also offering true business loans up to $100,000 for one to five years at rates starting as low as 5.9%.

    "We cut the cost and complexities of traditional bank loans and pass the savings on to borrowers with easy online applications, low fixed rates, fixed monthly payments, flexible terms, no prepayment penalties, no hidden fees and friendly service."
 
And, again, since these business loans do not come from banks or other traditional lenders, they come with less hassle for approval and much less red tape.

Why Do These Loans Matter To Franchise Businesses?

Normally, we do not promote specific businesses. However, these companies are pioneering new ways in which to fund businesses and franchises - trying to do what they can to fill the funding gaps left open by banks and similar business lenders.

They are by-passing traditional underwriting methods and standards (whom many say no longer work in this new economy) and finding ways to say 'yes'. And, through these peer-to-peer platforms, they are essentially taking the middle-man out (the problem to some) and letting those with money provide those funds directly to franchise owners who need it.

Image the shoe on the other foot. A well known franchise - one that you might frequent often - is asking for a loan and is willing to provide a fixed rate of interest in return. You have some additional money and help fund that loan knowing full well how good that business or franchise chain is. Not only do you help support a company you know well but you earn a fair return on your money (more then you would from keeping your money in a bank). This is a win/win situation.

Now, back to your franchise. Yes, you can apply and hope that a credit committee of a traditional lender approves your request (more likely they will drag it out for months and hope that you just go away) or you can use one of these new, peer based lending system, that puts your request in front of hundreds if not thousands of individuals who not only like and know your brand but have the money collectively to get you the loan your business needs.

Saturday, June 7, 2014

A Road Map Of Success Your Business Plan Mission and Vision

Everyone who runs an existing business or is in the process of starting up understands a sound business plan is the initial step for success. It will give a precise description of what the business will achieve, how it will be achieved, why and by whom.

Writing a business plan will help the entrepreneur organize his expectations for the business and develop a framework that will guide him in running the business.

Moreover, the business plan will become a relevant tool in making future decisions, especially those that will impact the business over the long period.

A business plan has several sections, however, when crafting your business plan, take time to define your mission and vision as well as your goals and objectives. These sections will clearly state the core of your existence and define what you want to accomplish and what your business actually stood for.

Before you can actually develop these sections, you need to identify your core values. Consider the stakeholders that your company is accountable.

The stakeholders may include the owner, employees, customers, suppliers, and investors. Your core values will be the foundation of your mission and vision as well as your goals and objectives.

Mission Statement

A mission is defined as an important purpose, accompanied by a strong conviction. Therefore, your mission statement must clearly state the purpose of your existence.

It must be about you and should create a connection with both the customers and the employees. Mention a specific goal that is tangible and should boost the value proposition of your business.

Often, generic, extremely long mission statements are confusing and may become useless. Brief and concise, single sentence mission statements are more preferred.

Vision Statement

Vision is defined as the anticipation for that which will come to be. Your vision statement must clearly impact how you envision your business.

It asserts your expectations; therefore, it should be an awesome, inspiring and hopeful statement of your commitment and dedication.

Make your vision statement detailed and compelling. It should point out why your company exists. It must also paint a clear picture of your intended outcome.

Vision statements that are generic or utterly unreasonable can become uninspiring and totally bland.

 Business Goals and Objectives

Simply put, your goals and objectives will help you figure out where you're going and help in executing or setting your vision and mission for your business.

Your business plan must clearly lay out, both your long-term and short-term goals. When setting your business goals and objective, it is important to make them SMART and logical.

This means that you need to make your goals Specific, Measurable, Actionable, Realistic and with a Time Frame.

Goals are generally qualitative and tend to focus on achieving the general picture of the business intentions. Primarily, goals are centered on customer service, market positioning and business growth.

Objectives, on the other hand, are centered on the practical daily operations anchored in the quantitative measure of business figures such as the number of customers, costs, revenue and other product-related metrics.

Conclusion

Having a sound business plan is like having a road map when embarking on a road trip. A road map will guide the traveler in making decisions how to reach his destination and to make his travel itinerary.

In a similar fashion, a business plan encapsulates the very core of your company's existence, and will help you plan out and decide as you navigate your business and success.






Friday, August 2, 2013

Perfect Restaurant Business Plan

Perfect restaurant business plan for some time, maybe this article will help you to find the plan that will really work for you. There are virtually uncountable sites on this particular subject and dozens more are being added daily. So the choices are abound but do you know what a business plan can do for you in the future and what are the benefits of using a consultancy website who can devise you plans regarding your restaurant business? We will try to shed some light on these questions in this article.

The Restaurant Business Plan to Take Your Endeavor to New Dizzying Heights

Ever wondered why there is a need to use the services of consultants for a plan in the first place? Or specifically for a restaurant business plan? You may have asked this question before to yourself too, but this is a very serious time to reconsider this issue as this can make or break your new or established business. 

When you are trying to put up a small business, producing a business proposal is one of the primary tasks you want to do. Because without submitting the details of your proposed venture, no investor would be able to give a green light to your business. And that too have to be in a proper documented form with the relevant details about financial, sales and marketing plans for your restaurant, to name a few.

The restaurant business plan can be fundamental to your success in establishing a new business or expanding a current one. In both cases, if you are starting without a detailed plan you are seriously risking all your investment and the efforts to put up a restaurant. So it is high time that you think about getting a plan for your restaurant business from a reputed and credible source.

How to go about in Finding a Credible Restaurant Business Plan Consultancy Service

Actually writing the plan for the restaurant yourself can be quite a challenge and will slow your actual work of starting the business itself. You will ultimately lose the focus on any one of the aspects and end up wondering what went wrong. Having said that, a good sound strategy is very critical if you wish your future endeavor to be successful and profitable. There are lots of consultancy services available who offer their services for start businesses and established ones too, who are in dire need of a plan so that they can actually get going with their business.

Make sure that the consultancy service that you will chose can give you sample plans that they have previously composed for other businesses. You can judge their expertise in this field. Furthermore, talk to a consultant to be familiar with the company and its working.

Restaurant Business Plan Help is a leading service facilitating our clients from all over the world regarding a restaurant business plan.

Tuesday, April 16, 2013

Plan Of Team-Building

Your thinking of planning a team-building weekend, the most important thing is that everyone has a good time. However, despite the intentions behind team building, sometimes a weekend spent out in the rain and the cold while staying in a youth hostel bed leave a lot to be desired.

However, it does not have to be like this. Why not consider luxury corporate events venues the next time that you want to book a team-building event? There are lots of reasons why this could prove to be the perfect option for you and your team, and here are a few of the main ones.

Stay in Luxury Accommodation

No matter what you do during the day, whether rain or shine, your staff will know that they have a luxury experience waiting for them back at the hotel. Sometimes these weekends can get a bit depressing, but when you base yourselves at a luxury hotel specialising in corporate away days, you will know that your staff will have a great time whatever you all get up to.

Enjoy the Best Activities

When you choose a luxury hotel that is located somewhere deep in the countryside or even on the coast, you will likely get access to some fantastic activities, which may even be organised by the hotel itself. And for corporate events venues that offer luxury services, you can expect the very best activities available.


For example, you will probably be able to find classic activities like sailing, kite surfing, windsurfing, wake boarding, mountain biking and rock climbing. However, at the same time you may be able to enjoy some activities that are slightly out of the ordinary, such as bush craft and art classes. And if you really want to treat your staff, spa treatments will not go down badly at all.

Boost Staff Loyalty

One of the best reasons to hire luxury corporate events venues when organizing the ultimate team-building event is because it will show your employees that they are truly valued. If you just throw something together at the last minute and they don't have a great time, you have to ask yourself what this says to them. But if you go above and beyond and plan a fantastic weekend away in a luxury hotel with all the activities they could want, you will give your staff a real boost, and that will be beneficial for everyone when you are back in the office.

Conclusion

Enjoy a More Successful Event There is no better way to organize a team-building event than to book your weekend in a luxury hotel specialising  in corporate away days. Consider all of the benefits of this option and make sure that you all have a fantastic time and that you finish the weekend feeling like you have really got something positive out of it.