Your franchise business plan’s executive summary should outline your company’s objectives. List your goals before giving a concise explanation of your product or service.  A detailed description of the franchise business will be the second section of your business plan. An overview and background of the franchise are provided in Item 1 of the FDD. This part should also include a list of the goods and services provided, an overview of the market and the competitors, a description of the operations procedure for delivering goods to the customer, and a summary of the risks and obstacles.  The essential members of your management team who will play a significant role in the day-to-day operations should be listed in the following section of your franchise business plan. Give each member as much history and prior experience as possible, paying particular attention to the material most important to the franchise firm.  In franchising, the franchisor has a lot of control over the sales and marketing strategies. You must investigate how they find new clients and explain how the franchisor will assist you with marketing and advertising.  Despite the fact that the financial results of franchised and franchisor-owned units are compared in Item 19 of the FDD, remember that profitability varies from location to location. Predicting profitability for a specific franchise site involves several factors, including geography, sales volume, and management. Consult with other franchisees and the franchisor for guidance based on similar units. Always remember that while creating financial estimates, it is preferable to err on caution.  A profit and loss (P&L), balance sheet, and cash flow statement are the three main components of your financial strategy. The FDD contains much of the data you need for this section, including Items 5-7, which describe startup costs and the expected first investment. Ask the franchisor about any additional expenses that might occur during your first year of operation, and do your homework on any ongoing fees and royalties that may be expected of you.