If you're contemplating which franchise you want to invest in, make sure you choose one with a comprehensive training programme. The programme should include both sessions at the Head Office to learn about the franchise's business model and basic business skills, as well as on-the-job training. This is crucial to your success as a franchisee and the overall success of the franchise brand.
- There are a wide range of people from different professions that choose to invest in a franchise. You may choose to start your business in a completely different industry than the one in which you previously held a job. That means comprehensive training is crucial to the your ability to start and run a successful franchise operation in a new industry. Without it, you won't know what to do! But don't be discouraged if you don't know anything about the industry you're entering -- franchisors don't necessarily prefer people with previous experience in the same industry, because people may bring bad habits or negativity about certain industry issues into the franchise.
- Training helps you get on board with the franchise's business model, and can help you successfully engage in day-to-day business activities. That way, all franchisees will continue to steer their individual franchise operations into the same direction that the franchisor envisions. It will mean the franchise has a unified image, and will keep the brand strong.
- Comprehensive training will also help you understand business skills that can play key roles in the development of the new business. For instance, skills in marketing, sales, finances and staff management are crucial to building a business, and it is important that you have a solid grasp on how to perform these skills.
- On-the-job training can often provide a valuable look at how daily operations will go, and can help you apply the theoretical aspect of training to real life situations. While sitting down and listening to a lecture on the business model is important, so is actually enacting those same principles in the operation of your business.
- It's important that you can either get refresher courses on the initial training you receive, or support when you can't remember something you learned during training. Franchisors often offer ongoing training opportunities and support, which is what makes franchises a less risky investment than starting a new business on your own.
Make sure you find out exactly what each franchise is offering for their initial training, and subsequently, what kind of ongoing training they offer. Find out if the training will cover how to operate the franchise, the franchise's business model, how to perform certain business skills and on-the-job training. If any of these components are missing, you may want to look for another similar franchise opportunity that does emphasise a comprehensive training programme. It will prove to be crucial to your success!