Page 111 - Business Plans that Work A Guide for Small Business

102 • Business Plans that Work

high up in Google searches for low-cost franchising and laundry franchising. We
will also advertise with Google Adwords and on the most popular franchising Web
sites such as franchise.org and franchising.com. Our personnel will become active
participants in the International Franchising Association and on online franchise
social networking sites. Finally, we will make aggressive efforts to work the press
at all levels. We will solicit stories in college and local newspapers and issue regular
press releases whenever new locations open.
We will make it as easy as possible for franchisees to get information on
Lazybones. They can download detailed information, including our Franchise
Disclosure Documents (FDDs), from the Web site in return for providing their
contact information. Alternately, they can dial a toll-free number to request this
information. Our personnel will also be available via the phone or via live Web
chat to answer potential franchisee questions.

Chapter Summary

Many people consider the marketing plan to be the most important part
of the planning process because it communicates how you will reach the
customer. As we discuss later in the book, successfully reaching your cus-
tomer is often the most critical risk a new venture faces. As such, inves-
tors will look at this part of the plan to see if you have a credible strategy.
That means looking at the distribution channels, pricing, and advertising
plans. The more detail you provide, the more credibility you build. As
such, liberally use tables to highlight advertising outlets and costs, sales
and marketing head counts, and salaries. Spend the time to get these
details right because it means that you will have a stronger grasp on your
major operating expenses and your road to profitability.