DOWNLOAD PDF KFC FRANCHISE BUSINESS PLAN

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1 Chapter 1 : Franchise Business Plan Writing Services Joorney Kentucky Fried Chicken Franchises One brand that stands out among other fast food places and is a favorite just about everywhere is Kentucky Fried Chicken. The Colonel's prize winning secret recipe has continued to remain a secret - and it still brings the large crowds. From there, word quickly got out about the unique taste of his chicken. Since that time, many of his restaurants are the more traditional eat-in or carry out restaurants, and other stores carry the buffet style setup. An additional 3, stores are owned by the company. The restaurant chain is now a part of Yum! The company is looking to start new restaurants worldwide. Financing is not available. Brands looks for experience as being very important to qualify, but will also accept a manager who is hired if there is the desired experience. One thing that Yum! Brands looks for in their ideal franchisees is a willingness to be a multi-store owner. They are looking for owners to open between three to five stores, and to open three of them within the first five years. One very important benefit of being a franchisee with Yum! Brands is the tremendous experience that they have. The company knows how to reach its target markets with the great fast food chains it owns. The company is currently the largest franchisor with restaurants in more than nations and provides training to match its reputation. There are many courses available to develop your own leadership abilities and that of your employees. A unique feature of Yum! Brands is that it also multi-brands some of its stores. It combines two brands together in one building and has found that it has worked very well to increase customer numbers and the amount of products purchased per customer. You can learn more now about the franchise business opportunity available at Kentucky Fried Chicken. Find out now if this is the perfect franchise opportunity you are looking for. Page 1

2 Chapter 2 : KFC's Marketing Plan Presentation by Baiq Khaulah Yuliana on Prezi When drafting a Franchise Business Plan for a KFC restaurant, there are several issues to address: The minimum financial requirement to open a KFC restaurant in the U.S. is $ million net worth and $, in liquid assets. Lagorio Senior writer, Inc. Lagorio When Harland Sanders sold his first Kentucky Fried Chicken franchise in, the document he prepared for the first batch of franchisees was a mere two pages in length. Things have changed a lot in the intervening years. Today, the extremely rigid Franchise Disclosure Document, which is proffered by a franchiser before any agreement is pursued, must contain a preordained list of 23 items. Most franchise agreements run 75 pages or longer. Compared with these highly-formatted documents, a franchise business plan tends to be much shorter and focus on the dream. The main difference is that it must address in detail the economics of both the franchiser and the franchisees - and show how the parent and its affiliates will be able to make money together. The Basics As with any business plan, you should expect to see several sections laid out in a franchise plan, including most vitally an introduction or abstract, a management overview, a marketing strategy, detailed financial projections, and the financial requirements for investing in a purchasing a franchise. Again, you might want to do additional research - even just spend a few minutes on Google - to learn more about and verify the backgrounds of everyone involved. Where you would normally find industry analysis in a business plan, most franchise business plans typically include a franchise overview, along with a description of the market the franchise would be entering - and its competition. These should be thorough, and lead seamlessly into a marketing plan. The plan should specify how territories will be carved up, and how many locations per territory a franchisee will be allowed or expected to open. Finally, a franchisor should convey a sense of culture and personality in his or her business plan. Look for a franchisor to display confidence and ambition as well as a sense of loyalty to the prospective franchisees in the proposal. Will the Marketing Strategy Work? How is the business going to attract new customers? Why will the product or service seem attractive to customers? What role do you as an owner or investor need to play in funding and facilitating local marketing? This section should answer those questions. It should also include detailed advertising plans for the future, including time frames, budgets, and specific marketing tools to be employed, says John E. Clarkin, a professor of entrepreneurship at the College of Charleston. If so, are the solutions the plan proposes viable? Understanding and Evaluating the Financial Details The financial section of the business plan should provide a franchisee with information about the investment necessary to be successful, as well as the expected return on that investment. The financial section is typically divided in two parts: Financial projections and financial needs. In the first section, you should find detailed income statements, cash-flow estimates, and balance sheets for estimated income. As a would-be owner, you should be wary of projections that seem unreasonably high, or that ratchet up too quickly. Rosy projections suggest the franchisor has not left enough room for the sometimes-inevitable snag, delay, or complication. The second section on needs should include a thorough tally of all the costs involved in starting up a franchise, including the initial capital needed to cover early marketing expenses as well as the operating losses incurred during the start-up phase. The breakdown of marketing funding should be re-evaluated here, and the total amount of capital needed from both parties should be clearly laid out. Any loans need to be included, including what the franchisee is expected to put on the line. Other documents related to personal and business finance should come attached in the "exhibits" appendix at the back of the plan. These are designed to provide supporting information and detail, and they are definitely worth a look. Evaluating a Franchise Business Plan: Page 2

3 Chapter 3 : Kfc Business Model Essay Example A master franchise is a franchising contract in which the masterfranchisor (the owner of the brand name) hands over the control of thefranchisingactivities in a specified territory to a person or. There are two kinds of security companies, one that sells products and one that sells services or you can combine both. It is estimated that the private security industry in South Africa employs over individuals. Decide what kind of company you want to start There are two kinds of security companies, one that sells products and one that sells services or you can combine both. Each sector falls under its own regulatory body. What about area competition? This includes paying a registration fee of R2 and writing an exam. Once you have passed the exam, proved that you do not have a criminal record, SIRA will conduct an inspection to establish whether or not your business meets the infrastructure requirements. A further fee of R1 is charged for the assessment. Each year the business is re-accessed which costs a further R plus the annual renewal fee or R The following documentation is required for registration: Submit a business plan to the Authority including the location and activities A resolution by the applicant security business stating that it will be able to operate for the next year The applicant proves that it has an administrative office that is accessible to the inspectors of the SIRA The applicant must have equipment which is necessary for the management and administration of the security business, e. Selling the business concept seems to the problem, said Margolis. These are his five tips that will help to get the business going. Look at your business plan and decide if you have a competitive advantage. If not, work out how you can make the market understand the unique value your small business has to offer. It is important to make yourself known. Attend ratepayer meetings, spend time at the local police stations, and attend meetings the police have with residents and businesses in the area. This way people get to know you and respect you and half the battle is won. Networking is the way to go. Make sure that you have a structure in place. Clients need to know if something happens to you, the business will not fall apart, and the services they have paid for and you have agreed to supply, will not cease. Clients need to understand that besides experience, that you are credible and that all the checks and balances are in place. This must be one of the key selling points. Consider taking on a partner. Choose a partner who has the attributes that you lack. The ideal partner would be one with strong links and contacts in the community that you want to work with. The other option is to employ sales staff. Stay abreast of new trends in the field, and update your skills. This is something that I strongly believe in. You have to be well rounded in terms of not just being a good businessperson, but you also have to be a people person, a marketing and sales manager and know a good deal about the neighbourhoods you work. Security products What are the requirements to start a security product supplier business? When a security system is purchased, an ongoing relationship is entered into between the purchaser and the security service company concerned. The security service product supplier must have the infrastructure and the required expertise to support the relationship continuously. Security Sector Regulatory Bodies The security industry has established a number of bodies to regulate itself. Membership in these bodies is voluntary. Page 3

4 Chapter 4 : KFC Franchise Cost & Fee, KFC FDD & Franchise Information theinnatdunvilla.com Select the site for your franchise restaurant and negotiate the purchase of the franchise with the KFC Corporation. Write the corporate-required marketing plan for your restaurant and develop. Sanders franchised the food operations in under the name Kentucky Fried Chicken. Chain ownership started with Sanders and shifted to R. Reynolds and Pepsico, Inc. Tricon Global Restaurants, Inc. New Franchise Application 1. Determine the amount you have to invest in a KFC franchise. This financial evaluation includes totaling your personal net worth and your available liquid assets. Collect your financial information and income tax records and meet with a business lender to prequalify for a franchise loan. Determine the focus for your KFC franchise. Select the desirable geographic locations for your franchise restaurant and research the markets for fast food in these areas using business resources, including newspapers and magazines, available on the Internet. Examine the details included in this paperwork. Some states also require separate disclosure statements. Federal law requires presenting the mandatory disclosure at least 14 days before you sign the franchise agreement or pay fees and make deposits. Complete the corporate application and wait for an invitation for an interview. During the waiting period, KFC corporate officers evaluate your financial assets and conduct background checks. Participate in an extended interview with the corporation representatives and participate in a restaurant experience to evaluate your ability to take charge of a franchise operation. If you have prior restaurant or fast-food management experience, this requirement may be waived. This interview determines your franchise qualifications. Hire an attorney with franchise experience to evaluate the franchise agreement and the disclosure statements for potential problems. Select the site for your franchise restaurant and negotiate the purchase of the franchise with the KFC Corporation. Write the corporate-required marketing plan for your restaurant and develop a business plan for your new store. KFC corporate representatives help guide in developing these plans. Submit the site registration for your restaurant and pay KFC the required funds for the site evaluation. Corporate representatives assist with completing the registration request. Apply for your franchise loan and build your restaurant. Purchasing Existing Franchise Meet with a loan broker or bank lender to prequalify for a franchise loan. Evaluate your finances to determine your net worth and the amount of liquid assets available for investment in a KFC franchise. Apply to KFC for a franchise operation using the link from the corporate website. Interview with the company and pass the on-site fast food restaurant evaluation to qualify to buy a current KFC franchise. This evaluation includes an examination of your financial resources and review of your experience in restaurant operations. It may also involve a multi-day personal demonstration to determine your abilities in guiding the day-to-day operations of a restaurant. Obtain the corporate agreement and the federally required disclosure documents from KFC. Hire an attorney to evaluate the sale agreement and franchise disclosure. Evaluate the physical condition of the available KFC franchises. Hire licensed professionals to evaluate the equipment, building and parking lot, if the sale includes the structure and land. Research the economic condition of the KFC franchises listed for sale. This requires evaluating the local fast-food market and labor conditions and may necessitate hiring an outside marketing specialist with experience in fast food operations. Negotiate the purchase of the KFC restaurant with the assistance of the corporate office to develop and sign the appropriate forms and documents. Meet with your loan broker to apply for the loan. Bring your prequalification paperwork, franchise purchase agreement and disclosure information to this meeting. Sign the loan agreement. Business owners without capital for this commitment have the option of buying a resale franchise restaurant or forming a partnership to purchase the corporate-restaurant minimum. Page 4

5 Chapter 5 : Is it still possible to buy a KFC franchise in South Africa? Entrepreneur The Franchise Agreement grants franchisees a license to use (i) certain KFC trademarks, trade names, service marks, logos and commercial symbols the franchisor periodically authorizes, including the "KFC" and "Kentucky Fried Chicken" marks; and (ii) the proprietary business formats, methods, procedures, designs, layouts, standards and. Well banks and lenders require one for starters. But also because business plans are one of the crucial foundations for the beginnings of a business. And the franchising industry is no different. Business plans are smart. They provide a road map to where you want to go and signposts for how you are going to get there. Writing a business plan causes you to consider challenges, risks, and opportunities that will be coming your way. Because you are choosing to purchase a franchise, your business plan will be a little easier to create than someone who is starting a business from scratch. For example, many franchisors already have business plan templates - or elements of business plans, at the very least--that you can use and adapt. Basic business plans can be boiled down to five main sections. These are the main things lenders will be looking for. Here you want to describe the business and the kinds of products or services for sale. You should evaluate your market and territory and include that information here. Second, describe your management approach. Outline your management structure and philosophies. Explain what makes them unique and qualified to excel. The third section of your business plan should be the marketing plan. Outline all of your marketing and advertising plans. Discuss the value of your products and services and why they offer a unique advantage to your company. Next, include financial projections. The idea is to use this data to point to how you project the business to do once it opens. Your projections should be very conservative and take into account as many variables as possible. Remember, projections are difficult to make--especially in a start-up business--so include as much information as possible in this section. Finally, include a section that details your financing needs. Here you should provide, in detail, a complete analysis of your start-up costs. Discuss how much capital you will need and where you plan to get it to cover your operations from day one until you begin turning a profit. This section is important even if you are not borrowing money. Creating a business plan forces you to think deeply about the business, analyze numerous options, and formally project a course of action. And for that, you will be glad you did it. Page 5

6 Chapter 6 : Kentucky Fried Chicken Franchise Business KFC Franchise Opportunity KFC (Kentucky Fried Chicken) is a fast food restaurant chain which specializes in fried chicken and is headquartered in Louisville, Kentucky. It is the world's second largest restaurant chain overall (as measured by sales) after McDonald's, with over 18, outlets in countries and territories as of December Get Full Essay Get access to this section to get all help you need with your essay and educational issues. A handshake agreement stipulated a payment of a nickel to Sanders for each chicken sold. Sanders sold his interest in the U. The Colonel remained as public spokesman for the company. In, the KFC went public. More than 3, franchised and company-owned restaurants were in worldwide operation when Heublein Inc. On 16 December, Colonel Harland Sanders, who came to symbolize quality in the food industry, died of leukemia. Flags in all Kentucky state buildings fly at half-staff for four days. The report about new business plan-kfc â â â â â â â â â â â â â â â â - Category: Franchise operator will have the benefits of well-established name, brand, and reputation. This franchise would also provide a strong brand or trademark of the fast food concept, a proven business system, extensive training and further product development, along with a number of initial and on-going managerial support services. It is also likely that the franchisor brand name would help the operator secure funding and offer benefits, including discounted supplies. However clinching fact would be the expected enthusiastic response from target population of locals, students and visitors of Aberystwyth town. Studies have reported that franchises are safer than other capital deployments in businesses with a failure rate of less than 5 percent rate compared to 90 percent failure rate for some independently initiated restaurants. Banks are also more liberal in extending finance to a franchising business, given above facts, and can finance up to 70 percent of the initial capital costs. Taking up a small business model franchisee of KFC appears to be a challenging, profitable and safe business opportunity. In the following paragraphs a business plan is taken up to commence this business systematically. Discuss the application of one of the ten key strategic operations management decisions to a servicebased organisation. MLA The importance of operational management has significantly increased in the service industry. Any service providing company faces many challenges and problems which can be solved by operational management strategies. In most organizations, it comprises a drastic percentage of physical assets and human resource. He is also responsible for all the sensitive issues like Planning for capacity, material management, purchases and logistics, scheduling and maintaining the quality. Now in this fast moving and rapidly changing business environment, the operational managers face high pressures. This is because shorter service life cycle, competition is significant, the market is full of conscious consumers. All such pressures lead to high expectation from manager operations. He has to improve productivity while providing high quality services. In this way, he can bring high yields for the company. More essays like this: Chapter 7 : Creating a Business Plan for Your Franchise theinnatdunvilla.com Our Franchise Business Plan Service Franchising is a growing industry with a proven track record and predictability. An experienced entrepreneur will know to look for great business ideas in Franchise opportunities. Chapter 8 : KFC Franchise Opportunities Before your applying KFC Franchise in India you should have a business plan. The key to success in this business location. KFC India, kfc india commercial, kfc franchise in india. kfc franchise. Chapter 9 : Franchise Business Plan - KFC - Joorney Business Plan Own your own KFC Chicken Franchise Business. KFC serves more than 12 million customers each day in countries and territories around the world and more than 90 percent of the U.S. restaurants. Page 6