Ed’s LEttEr
Editor’s
The banks say they are lending – many franchisors have reasons
to believe otherwise. The problem appears to lie with consistently
poor business plans. Lloyd’s TSB’s Richard Holden told Franchisor
News: “Better plans will lead to more lending in the coming
LEttEr
months” and franchisors’ must, “expect the business plan to
be challenged.” HSBC’s Cathryn Hayes says one of the most
common mistakes with business plans is that they don’t always
include personal income and expenditure details. For instance,
it can make a big difference if the franchisee’s partner is to
The Spice Girls did it. Simon continue in employment – their income could mean drawings
Cowell is doing it. Vinnie Jones can be lower in the early months, helping cashflow and helping
did it for a while too, as did to demonstrate the affordability of any borrowing. For more see
The Beatles. And it doesn’t news (pages 7 to 9). For Cathryn’s tips on how to improve your
happen very often. What business plan visit www.franchisornews.co.uk
all these have in common is
success in the mighty US of A. If it’s time to brush-up on your pitching skills, see page 17. For
They went, they fought and sound resales advice, Derrick Simpson advises on page 24 and
they won, with far healthier Nigel Toplis talks about recruitment, recessions and Havana cigars
bank balances to boot. For on page 13.
franchisors, it’s an equally tricky
market to crack but with Peter Stern’s words of wisdom on page We’ve recently launched the Franchisor News e-issue, so please
21, it’s a move made easier. send us your feedback. Email me at alison.ledger@vmgl.com
Another challenge facing franchisors of late has been the issue of See you at The National Franchise Exhibition!
funding, the Enterprise Finance Guaranteed scheme in particular. Alison Ledger, Editor
this issue
34
inside knowledge
48
21
regular features
30
the real deal spotlight on the us on the mark
Exclusive: VMG and the bfa renew Considering launching your How can you help franchisees with
a long-term agreement that will franchise in the US? Peter Stern marketing on a local level? Coconut
see them working more closely tells us what to consider before Creatives’ Sarah Cook explains.
together. leaping across the Atlantic.
Franchisor News | 3
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