A franchise is a commercial system or business scheme in which both the franchisee and the franchisor have a legal agreement where the franchisee manages the business according to terms specified by the franchisor.... Read more

Market Segmentation Definition:It is the process of dividing the whole market of a good or service in groups of people with similar needs. By making this division there is a high chance that each group responds in favor to a specific market strategy. ... Read more

When it comes to the company mission statement we must ask us this question: How can we say in a few words something that important? There are many elements to consider when defining what a business is about. Let's mention some of these elements.... Read more

Achieving the company purpose as well as maintaining in the advance-guard with technological advances is not an easy task, sometimes we get lost on the way, there are a lot of factors to keep in mind, so is strongly recommended to clarify and identify the company Mission statement, since this will allow to draw their way and to achieve their goals.... Read more

Now let’s see some cases where enterprises could not go hand to hand with technological advances, or they have not been aware of the changes that consumers demand.Within the first group, the typewriter, fax and postal mail are evidence of how the constant development of computing industry and the internet have ended with them.... Read more

Many companies lose their purpose of business when they are after some improvements, meanwhile others, keep their business purposes intact. This varies from a company to a company depending how they define their “business statement of purpose”. That statement must be defined in the business plan, and clarified to avoid any issue.... Read more

Definition of Enterprise The Terms Company, organization, firm, and business are all synonyms for the word “enterprise”.Furthermore, this is explained as the action of venture. Dictionaries define enterprise, business or company as the action of performing a project. No matter the meaning or linguistics acceptance, the truth is that a business is the beauty salon, the chocolate factory firing that savor which gives an appetite, the bar that we visit at weekends, even our school where we studied. All those, no matter the size, location, and activity, are enterprises.... Read more

Content This section identifies the financial needs of your business and shows the potential profits, therefore, is one of the most important. A business can grow and survive only if generates profits. During the preparation stage of the business plan, we must know how much money is needed and the expected profits. For this, the financial information that the business plan has, must include four documents:... Read more

When will start the major activities of the business plan, and who will be the responsible to carry them out? When will they finish these activities?... Read more

Copyright protection In case of any patent, branding, license or any other kind of protection is protecting the processes, products or services, describe them briefly.... Read more

The structure of the company Make a description of your company. How many personnel do you have, and how much would you like to have for the next years?... Read more

Target Market In the last post Description of the sector, we described our marketing activity. Which clients or market segments your company will point for? For example, we may define an objective market by client type and geographic region. How your markets may change during your business planning period?... Read more