Page 97 - Business Plans that Work A Guide for Small Business

88 • Business Plans that Work

Before leaving the 3.3 Site Evaluators
previous section on product
attributes, a perceptual map
showing how the Lazybones We believe a few key elements combine to make a suitable
franchisee stacks up on two Lazybones location:
key attributes, such as profit
margins and operational • Enrollment above 2,500 students (each student represents
support, would help commu- a potential customer)
nicate why this is especially
attractive to potential fran- • Greater than 20 percent out-of-state students (historically
chisees. Visuals add to your
overall plan readability. better customers)
• Tuition rates above $18,000, resulting in high-income
student families
A city in which multiple schools with these traits are close to one another may
be an even more attractive location.

Chapter Summary

The industry, customer, competition section sets the platform. The com-
pany and product section is the place to passionately sell your story.
Communicate why you believe that you have a compelling product. Tell
us about its competitive advantage. Present a persuasive entry strategy
followed by an exciting growth strategy. Whereas the foundation of most
houses is cement and buried under ground, the house itself should show
your style. Let your passion for the vision come through.