And How to Write a Franchise Business Proposal

There are many types of business franchises available for sale today: health foods, fitness clubs, pet stores, automotive parts or services, cleaning companies, fast-food, you name it.

At any time, there are franchisors–the overall owners who set up the branding and rules for a franchise business–wanting to sell individual franchises and expand their network.

On the other side of the equation, there are local entrepreneurs who want to become franchisees by purchasing a business from the original franchise company or from an existing franchisee/owner.

Whether you are the franchisor, an existing franchisee wanting to sell your franchise business, or a new potential franchisee wanting to buy a franchise, you need to find the best way to describe what you have to offer and what you propose to do. That means that you need to write a business proposal to buy or sell a franchise.

Writing a business proposal for a franchise should not be a daunting prospect. No matter which side of the franchise equation you are on, you must show that you understand what is expected from both parties, explain your plan and all its associated details, and persuade the other party that you can be trusted to carry out your part of the bargain. This is true in any business deal; some transactions are simply more complex than others.

All business proposals have a basic structure: introduction, then a needs/requirements section, followed by a description of what you are offering, and then a section at the end to persuade the reader that you can fulfill your promises.

First, you need to introduce yourself and your proposal. To do that, you’ll write a Cover Letter that briefly explains who you are, states your goal, and provides all your contact information. Then, you’ll create a Title Page to name your proposal something descriptive, like “Proposal to Sell the QRS Automotive Franchise at 100 Main Street” or “Health Club Franchise Opportunity in Maple Falls” or “Proposed Purchase of Hi-5 Hamburgers Franchise in Cedro Valley.”

Next is the section where you spell out the needs and requirements of the deal. If you are selling a franchise, you’ll need to specify the Requirements for purchase, which will contain descriptions such as a minimum cash investment, and perhaps a minimum net worth. You’ll also want to specify a Fee Schedule or Cost Summary specifying the ongoing fees that the franchisee will need to pay to the franchisor–these might include fees for advertising or marketing, percentages of royalties, and so forth. You’ll also need some topics that spell out what the franchisee is required to do. These might include pages like Expectations, Maintenance, Purchasing, Regulations, and Reporting. You might need Facilities, Design, Layout, or Uniforms that describe what the franchise and its products and employees must look like at all times. Topics will vary somewhat in this section, depending on the nature of the franchise. For a fast-food franchise, you might need a Menu page to spell out all items that must be offered; for a cleaning franchise, you might need a Services Offered page to describe the services that must be offered. Include all the topics you need to describe what is required of an owner of the franchise.

In the following section, you need to describe precisely what you are offering the other party. If you are the franchisor or a current franchisee, you will most likely include pages like Return on Investment or Projected Income to show what a new franchisee can expect to earn. Training and Advertising are usually big components offered by a franchise, as well as having an established Market Share and Customers and recognizable Branding. Usually there is an established line of Products and a standard Process for running the business, steps for every Procedure, and so forth–be sure to include everything the franchise offers to help the new owner be a success. If you’re selling an existing franchise, you might want to list your Staff or Team Members to let the prospective owner that these employees are available to stay with the business.

If you are seeking to purchase a franchise, you need to demonstrate that you can meet all the requirements for owning the franchise. You are offering your expertise, management skills, and funding to purchase and maintain the franchise. So in this section, you need to show that you have the necessary monies by including pages like Funding, Budget, and Investment. You also need to prove you have the necessary skills to make the business a success, so you may need pages like Education, Certifications, Experience, Management, Skills, or even a Resume. If you are bringing a management team to the franchise, you might need a Personnel page to show off the talents of your team.

How Pension Release Can Affect Your Future Annuity Rates

Its a dependable fact that annuity rates are at an untouched low, however despite everything it comes as a disagreeable stun to numerous that they are anticipated to deteriorate over the coming months. The Bank of England’s on-going Quantitative Easing Policy is gradually infusing new cash into the economy, which for some is something worth being thankful for, however for the individuals who are achieving retirement age it implies the annuity rates they’re being offered are consistently falling, and have now achieved just a single third of those offered 20 years prior.

For instance, in 1990 a multi year old male with an aggregate benefits pot of £100,000 would have possessed the capacity to buy an annuity that paid him a retirement salary of £15,000 every year. The beginning of quantitative facilitating a couple of years back however diminished annuity rates to such an extraordinary, to the point that this same benefits pot would just give a wage of £7,200 every year. Today, with annuity rates remaining as they complete a £100,000 benefits pot would give only £5,560 in annuity salary.

Yet, when you consider that not very many individuals figure out how to collect a £100,000 benefits pot amid their lifetime, the size of the issue ends up clear. Truth be told, most by far of retirees enter their retirement years with amongst £30,000 and £50,000 in their benefits subsidize, which now and again can compare to only a couple of thousand pounds for every year in annuity wage.

Be that as it may, imagine a scenario in which you have to discharge a portion of your benefits subsidize before retirement in view of crises.

It isn’t extraordinary for individuals beyond 55 years old to wind up confronting excess, unforeseen bills, and everyday cash deficiencies which they have no chance to get of dealing with without applying for benefits discharge. However, while at the same time benefits discharge can be useful in covering costs now, it at last decreases the measure of cash accessible for your annuity later on. What’s more, the less you have in your benefits pot at the season of retirement the more outlandish you are to be offered a not too bad annuity rate.

So suppose that you have a £50,000 benefits pot on your 60th birthday celebration and you choose you urgently need to pay off your home loan and have an occasion before you resign. So you choose to exploit your benefits discharge remittance and pull back a tax-exempt money single amount of £10,000 (20% of your store which is all your annuity supplier permits). When you resign 5 years after the fact you have figured out how to expand your benefits pot back up to £45,000 and you begin to glance around for the best annuity rates accessible.

The Taxonomy of Business Development

What is business development? This is a frequently asked question with as many answers as there are people calling themselves business development professionals. What unifies the discipline of business development is not so much the activities that comprise it, as these are immensely diverse ranging across a myriad of subfields. It is rather the goal or the objective: In one way or another, business development is about implementing business growth opportunities.

Business development involves all tasks and processes concerning both the analytical preparation, monitoring and support of growth opportunities. Of course, growth can be achieved in many ways. There are a plethora of activities, conceptualizations, methodologies, tools, frameworks, models, subfields, and buzzwords employed across industries and geographies when implementing growth opportunities for firms. Thus, it is often difficult to make out what is what with respect to business development.

This paper will discuss and distinguish key concepts of contemporary business development for a more comprehensive and translucent picture of this important yet ambiguous field. A particular interest will be taken into how business development activities differ across company sizes and growth stages, from early-stage startups to fully-grown companies, and the various institutions that can support companies on their paths to growth. Lastly, the value of business development services is discussed from the perspective of small and medium sized enterprises (SMEs).

1. The people of business development

“I do biz dev”, you hear people say frequently. But yes, business development is indeed something that one can do, and the actors of business development are called Business Developers. Business developers can be internal employees hired to identify and expand a company´s business, and their strength lies in their deep insight into the organization they work for. On the other hand, there are external professional service providers, such as management consultants, who leverage their experience from helping other companies develop, identify, and execute growth opportunities. Whether internal or external, individuals of this professional breed are usually generalists by nature with the skills and know-how to collaborate and integrate knowledge and feedback from a company´s functional units such as sales, marketing, R&D, operations, and finance, and in turn synthetize that information into actionable roadmaps, also called business plans. The business plan can be thought of as a formal statement of a set of organizational goals, including the motivations and criteria for why they are attainable, and a plan for reaching the goals. The tools and methods utilized by business developers are countless, yet the objective remains to answer one fundamental question: “How do we make money?”

While business developers work to address how firms can sell more of their products or services and make more money both today and tomorrow, business development activities are typically skewed towards forthcoming business opportunities and strategy. Many sales representatives claim to be business development professionals, but this does not fully capture what business development is. One of the principal activities a business developer does is identify new opportunities. To do so, the business developer must have insight into a range of business related fields, and have access to key information that can allow new parallels to be drawn. First of all, he/she must hold a fundamental understanding of the company in question, stay abreast of industry trends, and monitor the competition. Secondly, but perhaps more importantly, the business developer must be able to take a holistic perspective, use his/her intuition when analyzing results, and show proof of creativity and ingenuity when synthetizing information in order to conclude which next steps the business should take.

Working in business development is an excellent way to develop skills in strategy, negotiations, and managing partner and client relationships. Moreover, the job of a business developer is highly cross functional, as it requires collaboration with various internal and partner-company teams such as sales, engineering, and marketing to ensure that a deal is consummated. Last but not least, if done well, business development can have an incredible impact on the success of a business.

2. The institutions of business development

A common problem facing many firms, regardless of where they are in the company lifecycle, is that they get stuck in the trenches of daily operations, at the cost of conducting business development activities. When strategy and competitive advantage are no longer on top of the agenda, focus is lost and to the detriment of sustainable growth. The balance between running day-to-day operations and continuously developing the business further to hone the competitive advantage a firm holds is indeed difficult to manage. For that reason, there are a multitude of professional service providers in the field of business development. From the birth of ideas to early startups, to small and medium enterprises (SMEs) who seek second stage growth, and all they way to strategy implementation for corporate giants, many institutions exist to support firms in their business development efforts.

There are both niche specialists targeting specific business needs and generalists taking a 360° view of the firm and its strategy and objectives. They come in the form of governmental institutions providing funding and support to entrepreneurs, and private institutions in the form of business angels and venture capitalists, business incubators and seed accelerators, second stage business accelerators, boutique consultancy firms, and large management consulting houses. One way or another, these institutions interact with companies on their growth journey and provide all kinds of resources to support them, including funding and physical work spaces (offices), professional support, advice and mentoring, tools and frameworks, strategy development and operations efficiency, and access to important networks in the business ecosystem.

In the table below a classification of business development institutions are plotted out, based on the various stages in the company life cycle. While there of course exist much overlap between of these fields, it gives an idea of who, how, when and for whom various actors interact with firms on their path to growth.

Cable Management Products for Clutter-Free Operations

Cables are the connecting cords that ensure that appliances and gadgets receive electricity and other signals which are essential for them to function. They are generally of varying lengths and sizes. However, it is important that these cables and cords must be managed properly with the use of ties, clips and organizers to make the place clutter-free.

Devices that do not run on battery need to be connected to an energy source for them to get the power required for their operations. Cables are the connecting cords that help in the transmission of power. They connect devices to energy points and help in the conduction of energy. Used for all types of appliances, cables are required for devices to function and they are usually specific to every device. They can also be used for the exchange of data across locations. In such applications, cables of extensive length are used. The size of cables often depends on the number of wires they enclose and this in turn depends on the type and make of the appliance. In telecommunication, cables are used for voice connectivity and help people to make phone calls and talk to people sitting in other locations.

Modern workstations use a lot of devices that enable people to conduct their operations and tasks. Some of the most common devices used by people at work include computers either desktop or laptop and phones. Although cell phones have become increasingly common, they have not eliminated the use of desk phones. Extensions, as they are often referred to in large organizations, help people to connect with employees internally at minimal costs. Cables are required for these connections to be established between phones located in numerous places. Power is required for the functioning of desktops and laptops and this connection to a switchboard too is established with the help of a cable. Thus, a modern day desk appears cluttered with a number of cables connected to these numerous devices.

Cable management products can help you to manage these cables effectively and can make your desk look organized. These products also ensure that cables are not strewn all across your desk and are arranged in a systematic manner. They also help in determining which cable connects to which appliance and you don’t have to spend time tracing across the length of the wire to see where it connects. Cable managers are made up of quality materials to ensure that they last longer and do not begin to rust, break and show cracks. These products are easy to use and have a flat surface so that mounting them becomes convenient. They are also available as panels and hold all the cables at one place.

How Outsourced Medical Billing Can Benefit Your Practice

There are many reasons why outsourcing exists especially these days. With outsourced medical billing, many parts of the healthcare industry can benefit.

Here are some of the main reasons why physicians must make the most of outsourced medical billing.

1 – Improved healthcare service for patients. For one, the primary role of physicians is to give quality service and care for their patients. While it may seem hard to believe, doctors are people too and need time away from offering care to their patients! As hectic as physician’s schedules may sound, how can they even find the time to have a life outside their work if they have those lengthy operations, add to that, coordinating with the schedules of their patients? Naturally, they no longer have the time to work on their medical billing and all those typical back office tasks which equally demand thorough focus. However, what happens then if doctors do not focus on their medical billing? They would lose millions due to improper physician medical billing.

In any business and that includes healthcare billing, it’s always advisable to really well-define the business functions, and this is where the role of outsourcing comes in handy, the tasks are delegated to their respective staff or firms. Doing this would help ensure a smooth-sailing business practice and not to mention doctors could function well when it comes to taking care of their patients. In this way, they would no longer be queried for erroneous billing. Which brings me to the next advantage of outsourced medical billing.

2 – Prevents billing service mess. Bear in mind that the billing industry in healthcare is always changing, so which means constant updates are present in the in the medical coding and billing systems. Likewise, doctors are also all the more worn out with just as ever-evolving insurance policies.

Not only does it entail considerable experience and proficiency, but it’s also imperative to have the time in order to keep up with the most up-to-date modifications to ultimately generate enough income it deserves. In order to accomplish this, there has to be a committed team to observe, keep abreast of the most recent changes and produce outputs without errors. And if something amiss takes place, then the practice have to face losses. That’s why to prevent this, outsourced medical billing service is a good option.