How To Own A Franchise: What Training Do You Need?

Explore the types of franchise training every new owner requires to be successful.Your transition into franchise ownership doesn’t have to a trial-by-fire endeavor. As with any new position, you’ll require training to help you take on the many roles that franchise owners play.

One of the greatest benefits of owning a franchise is that you have access to a proven method for running your business. But, when starting your own company, it’s common to struggle with working everything out, from knowing what inventory software to use to connecting with vendors to understanding the intricacies of the sales process.

So, let’s explore the various types of franchise training you should expect to receive after making an investment, and uncover the sources of training that every franchise owner should take advantage of.

Essential Training For All Franchise Owners

As a new or future franchise owner, you’ll need training throughout every step of your journey. Yet, the most crucial time for franchise training is during your initial location setup. There’s a lot you’ll need to learn about the product, the brand and how your franchise should operate.

What training does a franchise owner need to keep their operations running smoothly? Well, because franchise owners wear a number of hats, they have a wide variety of training needs. Some examples of areas in which franchise owners require training before opening their doors include:  

  • Marketing
  • Sales
  • Operations
  • Accounting
  • Store Setup
  • Management
  • Inventory
  • In-Store Technology

Where To Access Franchise Training

There are many sources for franchise training. While some of your location’s success may stem from your own experience, don’t overlook formal training. Consider these three main sources for franchise training.

  1. Your Franchisor.

For fundamental franchise training, look to your franchisor. Every franchise brand has its own form of training for franchise owners. If you’ve chosen the right franchise, you’re likely to be provided with training that covers all of the necessary topics, thoroughly preparing you to open your doors.

Prior to selecting and committing to a franchise brand, ask about the franchise training program. This should be a key factor in your decision-making process. The most supportive franchisors are the ones that provide in-depth training.  

  1. Mentorship Programs

Even if your franchisor does not offer a mentorship program, it’s the type of training you should seek out. Mentorship from a current franchise owner comes with a number of benefits, two of which are hands-on training and experience-based advice.

Spending a few days or even weeks working in another franchise location with a seasoned owner gives you a new level of insight into how locations run and how franchise owners operate independently of their franchisor. You’ll have an opportunity to interact with customers, see the selling points used by other franchise owners to close deals and observe daily operations.

  1. Independent Training

No one knows your training needs better than you do. By evaluating your background and professional skills, you’ll be able to assess what your training needs actually entail.

For example, if you come from a marketing background, you may not be as familiar with the sales demands of a franchise location. If you don’t think that your franchisor’s sales training is sufficient to help you close deals, take the initiative to seek out your own sales training. There are training programs designed to make you a better manager and franchise owner. You simply have to find them.

Preparation is one of the keys to being an effective franchise owner, so be sure to dedicate yourself to franchise training. It’s the only way you’ll be ready to face the many challenges that arise as a franchise owner.

Learn more about what franchise training from a supportive franchisor looks like by watching our free webinar.  

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