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 Restore franchise, speak to a member of the Franchise Sales team today on 0116 275 9005  

Meet the ServiceMaster Restore Marketing Manager

Vicky Tayler is the ServiceMaster Restore Marketing Manager and has successfully taken care of this role since January 2017.

Vicky has a wealth of experience in marketing, particularly as she successfully ran her own marketing consultancy business for several years. Now taking care of the  marketing for the ServiceMaster Restore brand, Vicky specialises in B2B and b2c marketing initiatives, website building and graphic design – all to attract the attention of other businesses.

The ServiceMaster Restore brand is brand new, although the services offered are 60 years old and Vicky has the exciting role of ensuring that it is recognised as the restoration brand of choice. Vicky implements marketing initiatives in line with her national marketing plan and works with franchise owners on a 1-2-1 basis to assist with their local marketing plans to help franchise owners to grow their businesses.

All in all, Vicky has an extremely valued role within the business as ‘marketing makes the phone ring’ – or so they say!

What is the role of a Marketing Manager?

The role of a Marketing Manager is to ensure that the brand is positioned in the most effective part of the market, to receive the most enquiries to be converted in to customers.

This is done effectively through researching the market, creating a marketing strategy, implementing marketing initiatives and reviewing their effectiveness afterwards. All before starting the whole process again.

Marketing takes such a huge part in business. The importance of a dedicated brand marketing manager is paramount, which is why we have one!

For more information on the ServiceMaster Restore Brand – call 0116 275 9005 or email franchisesales@servicemaster.co.uk to arrange a free, no obligation chat

Meet the ServiceMaster Clean Restore Operations Manager

Geoff Hayman joined the ServiceMaster Team in 2013 and takes care of the operational and technical needs of the ServiceMaster Restore franchise network.

Our franchise owners are in great hands with Geoff, as he has many years of experience in restoration and has BDMA Senior Technician status.

On hand for all operational and technical support, Geoff is on hand to give operational and technical support either over the telephone or in person on site visits. His knowledge and expertise are valued within the network in such a dangerous and unexpected sector.

What is the role of a Operations Manager?

The role of an operations manager is to support the franchise network by offering advice and direction surrounding the business services offered.

It’s about being on hand, much of the time to ensure that franchise owners do not have unanswered questions and feel that they can carry out their work knowing that they did the right thing.

It’s such an important role within the business and adds great value to our offering for prospective business owners who are looking for a well supported franchise opportunity.

For more information on the ServiceMaster Restore Brand – 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 Restore 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.

Everyone starts a business because they had a reason for doing so. Many reasons are the same, some different, but every reason is unique to the individual because it is their story.

It’s important to establish your ‘why’ before going in to a business. Particularly in choosing a sector or a format.

Common Why’s  

Here’s a short list of the common why’s our existing franchise base have told us ahead of starting their journey with our brand.

Lifestyle

Owning your own business can relieve you of the formality of working for someone else. You can dictate when you start, finish, the number of hours that you work.

Be your own boss

Some people are just born to own their own business. You typically realise this after working for someone else for a period of time. Some people like the thought of being their own boss for the sense of power and status.

I can do it better

There is nothing worse than watching someone run a business poorly. However, what it does create is an aspiring entrepreneur with a benchmark and a goal to be better. Healthy competition never hurt anyone.

Gap in the market

Spotting a gap in the market and having an urge to fill it is a great way to get in to business with a genuine demand.

Interest in money

It’s apparently what makes the world go around and some of us are orientated around it. Having a desire to make money is a good reason to go in to business because you will have the drive and ambition to make it work.

Future nest egg

Some of us intend to build an asset as a nest egg. Something to look forward to at retirement, or to perhaps bring it forward.

Redundancy/inheritance/savings

Often individuals receive a sum of money and instead of buying ‘material things’, choose to invest it in a business opportunity in the hope that it grows and multiplies to become a bigger asset for the future.

When you know your why, why not discuss how a franchise opportunity can help you to fulfil it. Contact 0116 275 9005 or email franchisesales@servicemaster.co.uk to discuss further