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Financial objectives and the importance of business planning

Financial objectives and the importance of business planning

When planning for a car journey there are many tasks to complete before setting off. You need to plan your route, check the condition of your vehicle, ensure you have enough petrol – you never just jump in the car and drive. Preparation is key to a comfortable and relaxed journey to ensure you reach your destination safely and on time.

The same can be said about setting up a new franchise, the last thing you want to do is leave everything to chance. You must plan ahead to ensure that you have your journey mapped out. If you don’t plan and put the right objectives and targets in place, how can you ensure that you hit your goals and make your business a success?

Having a well-crafted and accurate business plan not only allows you to hit all your financial objectives but it makes you accountable. Your business plan will outline your journey whilst also keeping you accountable and documenting what activities you need to undertake on a monthly basis. A typical business plan will include:

  • Executive summary
  • Company information
  • Business opportunities
  • Industry and market
  • Business strategy
  • Competition
  • Marketing plan
  • Operational plan
  • Financial plan

The NGI Franchise Funding team not only provides you with a range of financial solutions, but they can also lend expert consultancy advice with helping to develop your business plan. To find out more please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.

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