When you're starting or growing a franchise, having a clear picture of your future finances isn't just helpful, it's essential. Sales and profit forecasting gives you a roadmap for your business, helps secure funding and keeps you focused on hitting the right targets. Here's how to approach it step by step. Step 1 – Start…
read moreStarting a franchise can be exciting, but understanding the financials behind it is essential for long-term success. One of the most important tools for any franchisee is the break-even analysis. Knowing your break-even point tells you how much revenue your business needs to cover costs and start generating profit. What is the break-even point? The…
read moreStarting a franchise can be one of the most rewarding financial and entrepreneurial decisions you’ll make. But before you sign on the dotted line, one of the first and most important questions you need to ask is “how much is this really going to cost?” Understanding franchise startup costs isn’t just about knowing a headline…
read moreOwning a franchise offers the benefit of a proven brand, but financial pitfalls can still threaten growth, especially in the early years. There are several items to tackle the most frequent financial hurdles faced by franchisees. Fixing underestimated start‑up costs Many franchisees report surprise over hidden initial expenses, including inventory, staffing, training, fit‑out, marketing or…
read moreHere at NGI Franchise Funding, we assist with the funding and development of business plans for both prospective and existing franchisees. The following are what we feel are the ten most common financial mistakes made by franchisees: 1 – Ensure you have the right amount of funding Any new franchisee will need a healthy bank…
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