Writing a Business Marketing Plan

The Marketing Plan is probably the most important part of your franchise Business Plan.

It will enable you to present on paper a well-thought out approach as to how you intend to approach your market and what you will face in doing so. It also includes what you intend to do and why you think that it is a good time to start this franchise business.

Some franchises will do all of your marketing for you – especially some of the fast food franchises. If that is the case, you need to be sure to put that information into your marketing plan. You also want to include the extent and frequency of the marketing that will take place by the main office, and whether or not you can alter it in any way.

Use the Franchise Marketing Plan to Show Your Ability to Succeed

In your franchise marketing plan you should bring out why you believe that you can succeed. You will first need to do market research to show:

• The need for your services – a realistic view of the opportunity.
• How you will take advantage of market conditions – the strategy.
• How you will get prospects and make sales – the target market.
• How you have determined your target market – the testing and results.
• How long it takes to go between first approach and a sale – the lead time.
• What are your projections for the first year – how many sales?

Use the Marketing Plan to Present an Opportunity

The key purpose behind the development of your franchise marketing plan is not merely to present a great idea. Instead, you want to present it in such a way that those who read your Business Plan will see the need to quickly jump on a potentially profitable business venture.

Present Your Unique Position

Because of this need to present an opportunity, you should also include honest information about the competitors, and how you intend to make your business unique. You want to clearly present how you propose to meet the needs that your competitors do not. Your unique position will greatly encourage the need for investors or lenders to jump on board.

Identify Your Target Market

In addition, you also want to show the sources of your research for determining your target market.

This includes how many will likely need your services in the geographic area, at what age the services will be needed, and the frequency of how often your services will be needed. Trends in your primary target groups that hopefully show an increase for the needs of your services, and a targeted secondary market, as well. Show how you intend to reach out to the target group using various forms of media – radio, TV, Internet, brochures, etc.

When you put any statistics into your franchise business marketing plan, you want your statistics to be as real and honest as possible. More likely than not, at least some of those who read it will be able to identify inflated figures – and you will be the one hurt by it when you do not get the money you need.

Test the Target Market and Report the Results

Making sure that you test your target market area is a key topic in a franchise Marketing Plan. You will need to have actually talked to some folks that are potential clients and note their reaction to specific questions or information. While you put the actual data in the Appendix, you need to show in the Plan that there is a need that people are willing to pay for. You should demonstrate that:

• There are potential clients in the area
• The information that you provided to them
• The need for their product needs to be met
• Their willingness to purchase such products at varied prices.

Just like the franchise Business Plan, your Marketing Plan should be thorough. The more complete that you make it, the more useful it will be after your business is operational. This makes it a strategic marketing plan that can be closely followed – and adjusted annually – or whenever needed. It provides you with principles on paper that will guide your marketing efforts, guidelines as to what groups to target, and puts methods in place to track the results.