The YogaBellies Franchise Business Plan

The YogaBellies Franchise Business
Plan - Common Questions
What is a YogaBellies Franchise business and marketing plan?
A YogaBellies Franchise business plan can be thought of as a ‘roadmap’ of
how you want to run your YogaBellies Franchise and can also be used to
obtain financing from a bank. There are two components to a plan: what
you will do with the bank’s money and your own personal goals for the
business (if using it for finance.) On the financial side it will outline how you will
use the bank’s money and how you will pay it back. On a personal and
business side it will show how you plan to make your YogaBellies business
successful.
There are legal liabilities associated with franchisors making any projected
earnings claims for inclusion in the business plan so we can only provide
figures based on numbers and prices, not estimated, promised or projected
earnings. So, we will help you to prepare the business plan but we should not
write it for you. After all it is your business plan and only you know how you
want to run the business. Drawing up a business plan will keep you focused
on achieving your goals.
What is the main difference between a traditional business plan and a
YogaBellies Franchise business plan?
The main difference is that a YogaBellies Franchise plan must combine
components of both the YogaBellies Franchisee and the franchisor
(YogaBellies Ltd or HQ), which means you are merging different elements of
both companies.
Where do I get the information I need to create my business plan?
Once you have signed the YogaBellies Franchise agreement we will provide
you with the necessary information you need in your welcome pack, yammer
and Ops manual, such as the company’s structure, marketing plan and
ongoing activities, target demographics, daily operational procedures, startup and ongoing costs.
How do I write a YogaBellies Franchise business plan?
The important thing to bear in mind is that you are combining parts of the two
companies: YogaBellies Franchisee and franchisor. We have provided a
template to that effect.
Should I update my business plan in the future?
Yes, as the business grows and changes you will need to update your plan so
that it reflects the changes in your business. This is a live and rolling document
not just something to tick a box. We can review this with you every quarter
and highly recommend that you take this opportunity to see where you are
at.
Who should help you write your business plan?
Get some input from HQ and other YogaBellies franchisees. An accountant is
also a useful source of advice, since he or she usually has experience
obtaining financing for their clients.
Will YogaBellies HQ need to ‘approve’ your business plan?
No, we do not need to approve it. This is because if we approve your business
plan we may be in violation of governmental and trade requirements. As
previously mentioned, there are legal implications for the franchisor of
promising projected earnings. We offer recommended price to charge and
maximum class size numbers. It’s up to you to decide how many classes you
teach and obviously how many people you attract to your classes.
How long will it take to write my YogaBellies Franchise business plan?
This is not an easy question to answer. Generally it may take several weeks or
many working hours but it really can vary depending on you and whether
you write and research as you go along or if you do it at the end of the
process. We will make as much information available to you as possible
about the product and processes but ultimately, it’s up to you to find out
more about your business in your local area.

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