Franchisors invest a lot of time, effort and money into induction and start-up training for new franchisees. As a result, most franchise businesses start with a great burst of energy and enthusiasm. New franchisees typically also find themselves surrounded by mentors and support staff during the start-up phase to help make it all work and answer any questions that come up.
As a new franchisee grows into their business, they tend to become familiar and comfortable with the operational aspects and requirements of their franchise system. However, in many cases, they may not feel as comfortable with the business side of things. This is when the learning and development of ‘business knowledge’ becomes essential for franchisees.
This is what we have identified as the ‘Post Induction Gap’. The point where all parties involved in a new franchise business, from the franchisee to their support staff, mentor, field manager or coach, is likely to recognise that the success of the new business will be greatly enhanced by improving the general business acumen of its owner operators.
Companies such as Bridgestone, ANZ mobile lending and Sumo Salads have identified this issue and are using the Franchise Business Management Essentials online course to fill this gap.
In fact, Mark Carmody, Manager Retail Business Development, Bridgestone uses it to assist in the early stages of franchisee onboarding. Once a franchisee signs the confidentiality agreement, Mark provides access to the program. Mark knows that those who enthusiastically finish the program are the sorts of franchisees more likely to succeed and with the potential for less conflict. It highlights to Mark the willingness for the franchisee to learn new things and take on recommendations from the franchisor.
The online course ticks all the boxes across a wide range of fundamental business topics, from managing cash flow and costs to understanding pricing, margins and the role of marketing and improving bottom line performance.
Also, this training is ready to start tomorrow. You can start the training straight away with one franchisee or all of them. It is a solid coaching solution with almost no ramp-up time. As soon as you complete the payment, you can start (tailored classes can also be arranged to reflect individual franchise systems but require further lead-in preparation time).
This training solution is very flexible, as it can be done when it best suits the franchisee without cutting into the operation of their new business. As well as the invaluable benefits of an improved understanding of general business concepts, franchisees will also have something to show for their efforts, with completed modules generating a Certificate of Completion.
The Business Management Essentials online course is an easy, economical and practical way to keep your new franchisee on the path to success with the foundation business knowledge they deserve. You can now access this program for up to 100 users for only $500 per month (for 12 months).
For more information, please contact Kerry Miles on email [email protected]