Choose one of the two franchises presented and draft a business-plan outline.

You’re convinced that purchasing a franchise is your method of choice for becoming a small business owner. Before you jump in, though, you’d better do your homework. For this exercise, we’ll first present some basic information about two possible franchise operations; then it’s your turn.
Snip ‘N Clip (SNC Franchise Corporation)
This franchisor began business in 1958 and started franchising in 1985. Its business is providing all kinds of hair care procedures. There are 84 locations throughout the United States, 43 of which are owned by franchisees. The initial franchise fee is $10,000, and total investment ranges from $50,950 to $58,450.
The company doesn’t offer financing.
Smoothie King This smoothie company finished on top of the juice bar category in Entrepreneur magazine’s 2007 Franchise 500 list (and it finished as number 91 overall).
Smoothie King began franchising in 1988, selling healthy snacks in Covington, LA. There were 437 independent franchises in 2006. The franchise fee is $25,000, the royalty fee is 6 percent, and startup costs range from $121,000 to $250,000. The company offers financing for the franchise fee, startup costs, equipment, and inventory.