Cover, including the name of the feasibility study? Research unit? Principal researcher? Date of preparation of the report, etc.
(2) The preface is a high-level summary of the main parts or core ideas in the feasibility study? Explain the main findings in the research process? Explain the feasibility and countermeasures of the project (generally within 1000 words).
(3) The directory is the logical framework of the feasibility report, and the directory hierarchy can reach at most three levels, at most one level? Level two? What is the size of the text between the three layers? Thickness? Styles and so on should be different.
(4) Basic information of the enterprise 1. General situation of the enterprise, including its name? Natural? Address? Organizational structure? Personnel situation? Major shareholder? Registered capital? Legal representative? Top management? Enterprise development history, etc. 2. The current operating conditions of the enterprise, including the market share of the enterprise? Target market, etc. 3. Do products and services include the types of products and services? Output? Quality? Features? Target consumer groups? Competitiveness? Price, etc. This is especially important for those enterprises that mainly rely on their own products or have few product categories. The success of joining is largely related to the positioning of these products or services.
(V) Background and development of franchise projects This part mainly includes the following two aspects.
1. Project background The project background mainly includes national or industry development planning. Explain the relevant national industrial policies? Technical policy, analyze whether the franchise project meets these macro-environmental requirements. Explain who initiated the project and why.
2. Development overview: Does the development overview include market research? The results of the experiment? Preparation and approval of project proposal.
(6) Analysis of comprehensive environment of enterprises 1. PEST analysis PEST analysis refers to the analysis of macro-environment, also called macro-environment, which refers to various macro-forces that affect all industries and enterprises. Analysis of macro-environmental factors, different industries and enterprises according to their own characteristics and business needs, the specific content of analysis will be different, but generally deal with politics? Economy? Analyze the four external environmental factors, social and technical factors that affect enterprises, so it is also called PEST analysis for short?
Pest analysis model
(1) Political factors. The political environment includes a country's social system, the nature of the ruling party and government policies? Policy? Law, etc. Different countries have different social nature, and different social systems have different restrictions and requirements on organizational activities. Even if the social system of the same country remains unchanged, what are the characteristics of the government's policies at different times due to the different ruling parties? The attitude and influence of policy tendency on organizational activities are also constantly changing. Important political and legal variables include the nature of the ruling party? Political system? Economic system? Government control? A change in the tax law? Various political actions? Industrial policy? Investment policy? What is the level of defense expenditure? Government subsidy level? Anti-monopoly regulations? The number of protests against the government? Severity and people's participation in politics.
(2) Economic factors. The economic environment mainly includes macro and micro aspects. Macroeconomic environment mainly refers to a country's population and its growth trend, national income? Gross national product and its changes, as well as the level and speed of national economic development reflected by these indicators. Microeconomic environment mainly refers to the income level of consumers in the area where the enterprise is located or the service area? Consumer preference? What is the savings situation? Employment level and other factors. These factors directly determine the current and future market size of the enterprise. Key economic variables to be monitored include the availability of loans? Disposable income level? Residents' propensity to consume (savings)? Interest rate? Inflation rate? Economies of scale government budget? Deficit consumption pattern? Unemployment trend? Labor productivity level? Exchange rate? What is the state of the securities market? Foreign economic situation? Import and export factors? What is the income gap between different regions and different consumer groups? Price fluctuation? Monetary and fiscal policies? Gross domestic product and its growth rate.
(3) Social and cultural factors. Does the social and cultural environment include the educational level and cultural level of residents in a country or region? Religious belief? Customs? Aesthetic perspective? Values, etc. Education level will affect residents' demand level, religious beliefs and customs will prohibit or resist certain activities, and values will affect residents' organizational goals? Are organizational activities and organizational existence recognized, and will aesthetics affect people's content of organizational activities? The way of activities and the attitude towards the results of activities. The key social and cultural factors include the proportion of female reproductive population structure, gender ratio, the number of special interest groups, the number of marriages, the number of divorces and the number of births. Death rate, migration rate, social security plan, life expectancy, per capita income, lifestyle, average disposable income, trust in the government, attitude towards the government, attitude towards work, buying habits, concern for morality, propensity to save, gender role, and propensity to invest.
(4) technical factors. In addition to investigating the development and changes of technical means directly related to the activities in the field where the enterprise is located, the technical environment should also know the following aspects in time: ① the focus of national investment and support for scientific and technological development; ② Development trend and total R&D expenditure in this field; ③ the speed of technology transfer and commercialization; 4 patents and their protection, and so on.
2. SWOT analysis of enterprises SWOT analysis (also known as matrix ()), that is, situational analysis, was put forward by Warwick, a professor of management at the University of San Francisco in the early 1980s, and is often used in enterprise strategy formulation? Competitor analysis and other occasions.
SWOT analysis model
Brief introduction of (1)SWOT analysis model. In the current strategic planning report, SWOT analysis should be regarded as a well-known tool. SWOT analysis from McKinsey & Company, including analyzing the strength of the enterprise? Weakness? Opportunities and threats. So SWOT analysis is actually to synthesize and summarize all aspects of the internal and external conditions of the enterprise, and then analyze the advantages and disadvantages of the organization? A way to face opportunities and threats. Through SWOT analysis, it can help enterprises gather resources and actions in their own advantages and most opportunities. Excellent? The analysis of disadvantage mainly focuses on the strength of the enterprise itself and its comparison with competitors, while the analysis of opportunity and threat focuses on the change of external environment and its possible impact on the enterprise. In the analysis, all internal factors (that is, strengths and weaknesses) should be concentrated together, and then these factors should be evaluated by external forces.
(2) Opportunity and threat analysis. With the economy? Society? The rapid development of science and technology, especially the globalization of the world economy? With the acceleration of integration, the establishment of global information network and the diversification of consumer demand, the environment in which enterprises are located is more open and turbulent. This change has a far-reaching impact on almost all enterprises. Therefore, environmental analysis has become an increasingly important enterprise function. The trend of environmental development can be divided into two categories: one represents environmental threats, and the other represents environmental opportunities. Environmental threat refers to the challenge brought by the unfavorable development trend in the environment. If decisive strategic actions are not taken, this unfavorable trend will weaken the competitive position of the company. Environmental opportunity is an attractive field for company behavior, in which the company will have a competitive advantage. The analysis of the environment can also have different angles. For example, a concise method is PEST analysis, and another commonly used method is Porter's five forces analysis.
(3) Advantages and disadvantages analysis (SW). It is one thing to identify attractive opportunities in the environment, and it is another to have the competitive ability necessary to succeed in these opportunities. Every enterprise should regularly check its own advantages and disadvantages, which can be carried out with the help of "enterprise management checklist". Enterprises or consulting organizations outside enterprises can use this format to check the marketing of enterprises? Finance? Manufacturing and organizational skills. Each element should be in accordance with the special strength? Slightly stronger? Medium? Slightly weak or extremely weak classification. When two enterprises are in the same market or have the ability to provide products and services to the same customer group, if one of them has a high profit rate or profit potential, then it is considered that this enterprise has a more competitive advantage than the other enterprise. In other words, the so-called competitive advantage refers to the ability of an enterprise to surpass its competitors, which helps to achieve its main goal-profitability. However, it is worth noting that the competitive advantage is not necessarily fully reflected in the higher profit rate, because sometimes enterprises are more inclined to increase market share or reward managers or employees. Competitive advantage can refer to any advantage that an enterprise or its products are different from competitors in the eyes of consumers. It can be the width of the product line or the size of the product. Quality? Reliability? Applicability? Style and image, timely service, enthusiasm, etc. Although competitive advantage actually means that an enterprise has a stronger comprehensive advantage than its competitors, it is more meaningful to clarify which aspect of the enterprise has advantages, because only in this way can we foster strengths and avoid weaknesses, or attack the virtual with real ones. Because the enterprise is a whole and the sources of competitive advantage are very extensive, so what are you doing? When analyzing the disadvantages, we must make a detailed comparison between enterprises and competitors from every link of the whole value chain. For example, whether the products are novel, whether the manufacturing process is complex, whether the sales channels are smooth and whether the prices are competitive. If an enterprise's advantages in one aspect or several aspects are the key success factors that enterprises in this industry should have, then its comprehensive competitive advantage may be stronger. It should be pointed out that whether an enterprise and its products have competitive advantages can only be measured from the perspective of existing potential users, not from the perspective of enterprises. In the process of maintaining competitive advantage, enterprises must deeply understand their own resources and capabilities and take corresponding measures. Because once an enterprise has a competitive advantage in a certain aspect, it will inevitably attract the attention of competitors. Generally speaking, after a period of hard work, an enterprise has established a certain competitive advantage, and then it is in a state of maintaining this competitive advantage, and competitors begin to respond gradually. Then, if competitors directly attack the advantages of enterprises or adopt other more powerful strategies, this advantage will be weakened. There are three key factors that affect the duration of an enterprise's competitive advantage: ① How long does it take to establish this advantage? ② What are the advantages that can be obtained? ③ How long does it take for competitors to make a strong response? If the enterprise analyzes these three factors clearly, it will know its position in establishing and maintaining competitive advantage.
(7) market analysis: market analysis includes industry profile analysis? Competitor analysis? Consumer analysis. 1. Industry profile analysis Industry analysis includes industry history? Scale? Features? Major customer base? Ability and potential? Development trend and cooperation? Key points of industry competition? Relevant national policies? The latest development of new technology in this industry? The latest development of upstream industry? The latest trends of industry leaders, etc.
2. Competitor analysis Competitor identification is mainly carried out in the industry environment to which the enterprise belongs. Michael Porter believes that an industry has five basic competitive forces: potential new entrants? Competition for substitutes? The bargaining power of the buyer? The bargaining power of suppliers and the competition between existing competitors. The situation and comprehensive intensity of these five basic competitive forces determine the intensity of competition in the industry, thus determining the ultimate profit potential and the degree of capital flow to the industry, and finally determining the ability of enterprises to maintain high returns. Porter's Five Forces Analysis belongs to micro-environment analysis in external environment analysis, which is mainly used to analyze the competitive pattern of enterprises in this industry and the relationship between this industry and other industries.
Porter's Five Forces Model
The most direct competitors of large enterprises are those enterprises in the same industry and strategic groups, and the interests of such enterprises are closely linked. As a part of the overall strategy of an enterprise, the goal of each enterprise's competitive strategy is to make its own enterprise gain an advantage over its competitors, so conflicts and confrontations will inevitably occur in the implementation, which constitutes the competition among existing enterprises. This kind of competitiveness is the most powerful force that enterprises face. These competitors use various means (price? Quality? Modeling? Service? Promise? Advertising? Sales network? Innovation and the like () try to occupy a favorable position in the market and compete for more consumers, which is a great threat to the industry.
3. Consumer analysis Through consumer behavior analysis, we can understand consumer demand and meet consumer demand better than our competitors. This process includes market segmentation? Target market selection? Trilogy of market positioning.
(VIII) Feasibility Analysis of Franchise Project This part mainly analyzes whether the project is suitable for promotion and development by adopting franchise mode, including technical feasibility (construction feasibility? Operational feasibility)? Economic feasibility (financing feasibility? Investment forecast and income estimation) and social feasibility (social benefits? Social impact).
1. Technical Feasibility You can hire a franchise expert to analyze the technical feasibility of building a franchise system in this enterprise, you can also seek the help of a consulting company, and you can also organize employees of this company to learn the knowledge of franchise construction.
2. Economic Feasibility Does the feasibility of financing include the source of funds? Project financing plan? Investment use plan? The loan repayment plan and other aspects are analyzed. 3. Social Feasibility Analysis The social feasibility analysis of the franchise project mainly analyzes the social benefits and social impacts of the franchise system, mainly including the following aspects.
(1) What impact does the franchise system have on national political and social stability, including increasing employment opportunities? Improve the regional economic structure? Improve the level of regional economic development? Improve people's quality of life, etc.
(2) Franchise system and local science and technology? Culture? Mutual adaptability of infrastructure development level.
(3) The franchise system and religion of local residents? Mutual adaptability of national customs.
(4) How does the franchise system contribute to the rational utilization of natural resources? Environmental protection and ecological balance.
(5) Risk analysis of establishing franchise system. The risk of implementing franchise projects is reflected in three time periods, namely, the planning and design stage of franchise system? Recruitment and construction stage? Maintenance and upgrade stage after completion. What are the specific risk categories? Market risk? Business risk? Policies and regulations risks, etc.
(IX) Financial forecast Financial forecast is actually an estimate of investment and income, which is not only the information support of the franchisor's own development plan, but also the highlight of attracting potential franchisees to join. There are two commonly used methods for financial analysis of franchised enterprises: one is trend analysis, that is, according to several consecutive financial statements, comparing the current and future changes and judging the changing trend of enterprise finance and operation; The other is the ratio analysis method, which calculates the ratio according to the relationship between the items in the financial statements of the same period, so as to judge the financial and operating conditions of the enterprise. The following use ratio analysis method, mainly to analyze the solvency? Analysis of operational ability and profitability.
1. Solvency analysis. The solvency of franchise enterprises can be analyzed from the short-term and long-term situations respectively.
(1) Short-term solvency analysis. The short-term solvency of franchise enterprises refers to the ability to repay current liabilities. It is mainly expressed by the liquidity of the assets of the franchised enterprise and the size of its amount, which usually includes the following ratios. ① Current ratio. This is the ratio of total current assets to total current liabilities of franchised enterprises, and the calculation formula is: current ratio = current assets current liabilities. Generally speaking, current liabilities should be repaid with current assets. The higher the current ratio, the greater the liquidity of assets and the stronger the short-term solvency. However, the excessive current ratio may be the backlog of inventory? The existence of a large number of accounts receivable shows that there are too many funds stranded in current assets and the funds cannot be effectively used. According to experience, the current ratio is generally 2∶ 1. ② Quick action ratio. Current assets after deducting inventory become quick assets. Quick ratio refers to the ratio of quick assets to current liabilities, which reflects the ability of short-term realizable assets of franchise enterprises to repay debts due in the short term. Quick ratio is a supplement to current ratio, and the calculation formula is: quick ratio = quick assets; The greater the quick ratio of current liabilities, the higher their solvency. It is generally believed that quick ratio should be maintained at around 1: 1. ③ Cash ratio. This refers to the ratio of cash to current liabilities of franchised enterprises. The cash mentioned here refers to cash and cash equivalents. This ratio can show the ability of the franchise enterprise to repay the due debts immediately, and the calculation formula is: cash ratio = cash current liabilities.
(2) Analysis of long-term solvency. Long-term solvency analysis is mainly carried out through the following indicators. ① Asset-liability ratio. Also called debt ratio? Debt-to-business ratio refers to the ratio of total liabilities to total assets, which is used to measure the ability of franchised enterprises to use the funds provided by creditors to conduct business activities and reflect the security of creditors' loans. The calculation formula is: asset-liability ratio = (total liabilities/total assets) * 100%② Property right ratio. Also known as the debt-to-owner's equity ratio, it is the ratio of total liabilities to total owners' equity, and the calculation formula is: property rights ratio = (total liabilities/total owners' equity) * 100%③ interest guarantee multiple. Also known as earned interest multiple, it is the ratio of profit before interest and tax to interest expense of franchised enterprises, reflecting the ability of franchised enterprises to pay debt interest with operating income. Among them, interest expense is all interest paid to creditors, including interest in financial expenses and interest included in fixed assets. The calculation formula is: interest guarantee multiple = earnings before interest and tax/interest expense = (total profit+interest expense)/interest expense.
Generally speaking, the interest rate multiple must be at least equal to 1. The greater this indicator, the stronger the ability to pay interest on debt. As far as the interest guarantee multiple of a franchise enterprise in a certain period is concerned, it should be compared with the evaluation level of the index in the industry or with the level of the index over the years to evaluate the current index level of the enterprise. 2. Evaluation of the operating ability of a franchise enterprise The operating ability reflects the capital turnover of the enterprise. Generally speaking, the faster the capital turnover, the higher the efficiency of capital utilization and the better the management level of franchised enterprises. The indicators reflecting the operating ability of the affiliated enterprises include the turnover rate of accounts receivable? Turnover rate of current assets? Total assets turnover rate and other indicators.
(1) Accounts receivable turnover rate. This refers to the ratio of the net credit sales of an enterprise in the current period to the average balance of accounts receivable in the same period, which reflects the liquidity of accounts receivable, also known as the collection rate. The calculation formula is: accounts receivable turnover rate = net sales on credit/average amount of accounts receivable, where: net sales on credit = sales revenue-cash sales revenue-sales collection? Discount? Average balance of discounted accounts receivable = (opening accounts receivable+closing accounts receivable) /2.
Looking at the recovery speed of accounts receivable, we can also use the average collection period as an indicator. The short aging of accounts receivable shows that accounts receivable are active and the possibility of bad debt loss is small. Average collection period =360 days/accounts receivable turnover rate.
(2) Inventory turnover rate. In current assets, inventory accounts for a large proportion. The liquidity of inventory will directly affect the turnover ratio of franchised enterprises. Inventory turnover rate is to measure and evaluate the inventory purchased by franchised enterprises? Put into production? The index of management status of various links such as recycling is also called inventory turnover times, and the inventory turnover times expressed in time are inventory turnover times. The calculation formula is: inventory turnover rate = cost of sales * average inventory balance = 360-day inventory turnover rate/inventory turnover rate formula: average inventory balance = (inventory opening balance+inventory ending balance) /2.
(3) Turnover rate of current assets. The turnover rate of current assets, also called the turnover times of current assets, is the ratio of net sales income to the average balance of all current assets, reflecting the utilization efficiency of all current assets. The turnover rate of current assets expressed in time is the turnover days of current assets, which indicates the time required for the average turnover of current assets. The calculation formula is: current assets turnover rate = net sales income/average current assets balance =360/ current assets turnover rate: average current assets balance = (current assets opening balance+current assets ending balance) /2.
Experts from the International Chain Store Management Association believe that the turnover rate of current assets is a comprehensive index to analyze the turnover of current assets. Fast turnover of current assets will save current assets relatively, which is equivalent to expanding the asset investment of franchised enterprises and enhancing their profitability. On the contrary, if the turnover rate is slow, franchised enterprises must constantly replenish investment resources to maintain normal operation, which leads to inefficient use of funds and inevitably reduces the profitability of franchised enterprises.
(4) Total assets turnover rate. The total assets turnover rate, also known as the investment turnover rate, is the ratio of net sales revenue to the average balance of all assets, which indicates how much sales revenue a franchise enterprise can generate or generate per invested 1 yuan of assets in a year. This indicator generally reflects the utilization efficiency of assets of franchised enterprises, and the calculation formula is: total assets turnover rate = net sales income/average balance of total assets, where: average balance of total assets = (total assets at the beginning of the period+total assets at the end of the period) /2.
3. Evaluation of the profitability of franchisees Experts from the International Chain Enterprise Management Association believe that profitability refers to the ability of franchisees to earn profits. The profitability of franchise enterprises is related to the survival and development of franchise enterprises. Is it an investor? Creditors and management authorities attach great importance to and care about the profitability of franchised enterprises. The financial ratio that reflects the profitability of franchised enterprises mainly includes the following contents. (1) gross sales margin. Gross sales margin refers to the percentage of gross sales margin to sales revenue, indicating how much money can be used to make up for the expenses of each period per 1 yuan of sales revenue, forming a profit after deducting sales costs. Generally speaking, the greater the proportion, the stronger the profitability of franchised enterprises. Its calculation formula is: sales gross margin = sales gross margin/sales cost = sales revenue-sales cost.
(2) Sales profit rate. Sales profit rate refers to the percentage of net profit and sales revenue, which means the net profit per 1. Yuan's sales revenue reflects the income level of sales revenue. Its calculation formula is: sales profit rate = net profit/sales revenue (3) return on investment. The rate of return on investment is an important index to measure the ability of enterprises to make use of all economic attractions to obtain income. The calculation formula is: return on investment = net profit/average balance of total assets, where: average balance of total assets = (total assets at the beginning+total assets at the end) /2.
(4) earnings per share. This indicator reflects the distributable net profit per common share of listed companies. Its calculation formula is: earnings per share of common stock = (net profit-preferred stock dividend)/average number of shares issued by common stock.
(5) Price-earnings ratio. P/E ratio is the ratio of the current market price per share to the earnings per share of common stock, which investors can use to analyze whether the stock market price is reasonable. Generally speaking, franchisees with great revenue growth potential have higher P/E ratios, and vice versa.
4. Social Benefit and Social Impact Analysis The impact of franchising projects on national politics and social stability includes the following aspects: (1) projects and local science and technology? The mutual adaptability of cultural development level, (2) the mutual adaptability of the project and the development level of local infrastructure, and (3) the religion of the project and local residents? The mutual adaptability of national customs, (4) the influence of the project on the rational utilization of natural resources, (5) the influence of the project on national defense benefits, and (6) the influence on environmental protection and ecological balance.
(ten) project risk analysis and tips. Does this part include industry risks? Market risk? Business risk? Policy and legal risks? Risk prediction? Prevention and coping strategies, etc.
(XI) Annex to the feasibility study report Experts from the International Chain Enterprise Management Association believe that this part is a supplement to the main part, and it is mainly the reference materials needed for the feasibility study report. Specifically: project proposal? Project approval? Market research analysis report? Letter of intent for loan? Environmental impact report? A feasibility study report on a single or supporting project that needs a separate feasibility study? Investigation report on imported technology projects? Various agreements and documents on the utilization of foreign capital? Description of other major comparison schemes, etc. This part requires that the listed accessories should be marked with names? Dating? Number.