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In this week’s installment of Business Insights, Franchise Direct CEO Sean McGarry talks about the process of writing a business plan.

View the video to hear Sean talk about what is most probably the most important document for a company.

Download Business Insights #6 or view in the player below

Sean talks about how a business plan is a way of communicating your business idea to a banker or potential investor.

The process of preparing a business plan is very important and should be prepared over a number of weeks or in some instances over a number of months. If you are sitting down to write out a business plan, before you begin you should think out the different areas that affect your business.

In this week’s video, Sean discusses the first two key areas of the business plan:

1. Management

This area should address the overall management of the business. Sean advises that the first thing a Banker or potential investor will want to know is who is involved in this business venture and how qualified/competent are they at what they do. You should use this section to prove that you have the specific skills and experience required for the business area into which you wish to enter. In this instance, a franchis opportunity can be beneficial as franchisees do not have to have as much business experience because they will be supported by a team of experienced franchisors who are experts in their field.

2. Market Analysis

The second section of the business plan should address the area of market analysis. Here you should outline and give detail of where and to whom you are going to sell your product/service. You should be able to provide evidence of significant market analysis, as well as a competitive analysis whereby you will have identified your main competitors and stated how you are going to be able to compete with their business offerings.

Next week, Sean will continue on the topic of Writing A Business Plan, and address the areas of Operational Aspects and Funding & Finance.Come to the blog again next Friday to watch the next installment of Business Insights.

Building on the momentum gathered at last week’s IFA Convention in San Diego, IFA president Matthew Shay has written to Congress directly to appeal to lawmakers to help that franchising industry. It’s the kind of positive action that we hope will lead to direct government backing for the franchise community.

Shay’s letter was sent to the House Committee on Small Business forum. Its purpose was to address the role that small businesses will play in revitalizing the economy.

“By identifying and implementing specific strategies for improving the economic conditions for small businesses, IFA believes the entire American economy will reap the benefits,” Shay wrote.  “To address this and other challenges, IFA has developed an Economic Recovery Plan that outlines short-term strategies for helping all small businesses regain economic vitality.”

Shay’s Economic Recovery Plan consists of the following five points:

• Increase the amount of credit available by strengthening secondary markets
• Increase access to capital through changes to Small Business Administration loan programs
• Remove tax uncertainties and inequities for small business
• Make small business health insurance more affordable
• Support veterans as small business owners.

“Particularly in times of economic stress, franchising gives small businesses an extra margin of help through access to training, business methods and marketing support provided by the franchisor,” Shay added.

It’s exciting to see Capitol Hill being lobbied directly about the importance of franchising. For more insight from Matthew Shay, keep an eye on the Franchise Direct blog over the next few weeks, as we’ll be posting a video interview we conducted with him at the IFA Convention last weekend.

Tax day: that dreaded part of the year is rapidly approaching. With March 15 less than a month away, the best thing that entrepreneurs can do is think hard about finding deductions that might not have seemed obvious a year ago. Luckily Franchise Direct is here to help you.

A number of periodicals have just published their advice for this gruelling season. Business Week has suggested its Hidden Tax Tips For Entrepreneurs. Among a slideshow of 25 tips are two that many franchisees, including those who operate home-based franchises, commonly overlook: vehicle and home-office deductions.

“New investments of up to $250,000 in equipment, vehicles, or software can be written off immediately, rather than depreciated over future years, under the Section 179 deduction. If you have a home office that you use exclusively as your primary place of business, you can deduct costs for the business use of your home.”

Enterpreneur magazine offered a small business focus for tax savings - they’ve keyed in on changes to the tax code that were brought in from last year. For instance, tax deferment is something that all small business people should explore

“Income deferred under a nonqualified deferred compensation plan is usually taxed the year the deferral is made. But the IRS changed the complex rules on this issue for 2008, so if you deferred income, be sure to check the fine print to see if you owe the tax now or can wait to pay it.”

Take a few minutes to read through these suggestions to find if they apply to your franchise. There’s a good chance franchisees might able to save thousands.

Times are tough enough - there’s no point in giving the government money that is rightfully yours.

The IFA Annual Convention is winding down today and, what a weekend it was. Franchise Direct was everywhere during the convention, so keep an eye on this blog over the next days and weeks for videos and interviews from San Diego.

It was an uplifting weekend, underlined by President Bill Clinton’s address to the convention on Sunday. Clinton said welcomed the Government’s bank bailout late last year, saying it saved the economy from a ‘total meltdown’.

Clinton also welcomed the people Barack Obama has appointed to steer the economy back on track.

“The president has a good economic team. I know. Most of them worked for me . . . This is the same crowd that gave you balanced budgets and surpluses.”

Finally, if you couldn’t make it to San Diego, here are a few photos from behind the scenes of the festival taken by our multimedia team in between video shoots. Enjoy!

Lawn care franchises may not be the sexiest franchise industry in the world, especially this time of year, when half of the country is cold and frozen. But we’d like to take a moment to celebrate the success of U.S. Lawns as they near a big franchising milestone.

As Yard and Gardens magazine reports, U.S. Lawns is nearing its 200th franchise. It now has 198 franchises in over 30 states and expects to reach 200 franchises by the end of the first quarter of this year. U.S. Lawns recently opened 10 franchises in places as diverse as North Atlanta, GA; Boise, ID; Evansville, IN; St. Clair Shores, MI; Fayetteville, NC; Atlantic City, NJ; Middletown, NY; Grapevine, TX; Fort Worth, TX; Vancouver, WA.

Add that to being named as one of Enterpreneur magazines Top 500 franchises and 2009 has already been pretty good for U.S. Lawns.

If you’re interested in a franchise opportunity with U.S. Lawns, click here.