Thinking about opening a fraternal club? We tell you what you need to know to get started.
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Writing Tips for a Fraternal Club Business Plan
We know - writing a business plan can be a daunting task for a new entrepreneur.
Learning how to draft a fraternal club business plan isn't difficult. If you can get past the mystique, you'll see that a business plan just describes where your fraternal club is headed and how you intend to get there.
When you compose a business plan, you formally document the rationale behind your entrepreneurial vision. The information in your plan (and your rationale) are essential for lenders, investors and other people who have a stake in your company.
As a launching point, take a look at the sample business plans other business owners have used to achieve success.
Review the Competition
Prior to opening a fraternal club within your community, it's essential to see how strong the competition is. We've provided the link below to help you generate a list of competitors in your area. Complete the form by entering your city, state and zip code to get a list of fraternal clubs that are close by.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you are seriously contemplating launching a fraternal club, you really ought to learn from folks who are already in business. It's very unlikely that the local competition will talk to you. It'd be crazy for them to teach you the business.
Fortunately, somebody who runs a fraternal club outside of your community can be a great learning resource for you, after they realize you reside far away from them and won't be stealing their local customers. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
How does one quickly and easily locate an entrepreneur who is running a fraternal club that lives outside of your area?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
How to Buy a Fraternal Club
At Gaebler, we're big advocates of buying a fraternal club instead of a startup. Yet the process of buying a fraternal club introduces a new set of challenges.
There are no reliable shortcuts in buying a business. For most prospective business buyers, the first step is to contact a business broker.
A good business broker serves a number of useful purposes. From locating available companies to helping seal the deal, your broker will have the experience and skills to help you successfully navigate the purchase process.
Franchising May Be a Better Way to Go
The probabilities on your doing well in business are greatly increased when you join the ranks of franchisees and benefit from the prior work of others and their lessons learned.
If your goal is to start a fraternal club, it's worthwhile to check out whether buying a franchise could help you on your entrepreneurial journey.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you already are in business and came here to learn about growing an existing fraternal club, try these useful resources:
If you sell to fraternal clubs, you're in the wrong place. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.