What is the importance of training in franchising?
There is no franchise business model that will make the franchisor more profitable without providing training and support to the franchisee. ‘Training and development’ is an important process in the success of any franchise business. The training program enables smooth functioning of the outlets at various locations. In order for a franchisee to run a successful business and avoid potential losses, the franchisor must provide the franchisees with the best quality training and assistance. Eighty-seven percent of CEOs around the world believe that inefficiency / lack of skills is a major factor hindering business growth.
At present, about ₹ 1 billion is spent on various training and development activities in India. 90% of jobs are skill oriented. But India currently has only 6% skilled manpower. However, training programs are a form of investment in the franchise business, in which skills are developed to improve the company’s performance and make a lot of profit.
Getting initial and ongoing training in all aspects of the business process is one of the greatest benefits of becoming a franchise businessman, as is not the case in an independent business. Most franchisors train their franchisees in all technical and functional aspects of the business. This is because most of the franchisees do not have enough knowledge and skills. That’s why they need to be trained to run the franchise smoothly.
Let’s see, what is the importance of training and support system in the franchise business.
1) Adapting to changes in the industry: This is the age of technology and there are frequent changes happening with it. Technology is updating day by day. So every business industry has to adapt to these changes. In such a situation, negligence can cause shut down your business or cause a big loss. At the same time, government policies are changing. That’s why it’s important to verify that your company is following industry regulations with every change. Therefore, it is very important to implement continuous training activities to ensure that the skills and knowledge of all the employees in the franchise business are up-to-date.
2) To be vigilant about technology changes: Due to frequently changing technology, franchise companies have to be constantly updated. Training programs need to be conducted to ensure that the latest technology is being used in your industry and that your employees are able to handle this technology to its full potential.
3) To stay ahead of the competition: Take any business sector; there is competition in it… The franchise world is very vast, the competition in it is also very challenging. One small mistake can shut down your business or cause a big loss. In such a situation, continuous training is required to survive in the competition and to go ahead of other competitors.
4) To be able to know your weaknesses and weak skills: You can identify weaknesses in your business with regular training. Also the weak skills of the employees can be improved. If the weaknesses in the business can be identified in time, it can be rectified in time through training and potential risks can be avoided.
5) To maintain knowledge and skills: Training programs are important for maintaining the knowledge and skills of professionals and employees involved in the business process. Skills need to be practiced constantly and refreshed so that they are not forgotten.
6) To update the skills of the employees: After establishing the business and running it smoothly, by constantly updating the skills of oneself and the employees, more profit and success can be achieved.
7) To increase the level of satisfaction at work: If investment is made through continuous training, the employees become aware of job satisfaction and their interest in work will increase. This increases productivity and increases direct profits. It also prevents competitors from removing your best employees from your company.
8) To attract new talent: It is not important to keep the best staff with the best staff through training for recruitment, it is important to identify the talented staff from the beginning and encourage them.
The training program promotes great talent in the employees and the franchise business gets a good reputation due to the talented employees.
Summary: Regular and continuous training is not only important for developing the knowledge and skills of the employees but it is also an effective process for business success.
As franchise consultants in Mumbai, we at Franchise Birbal always provide individual attention to our clients and help them to establish franchise businesses both in India and internationally. Franchise Birbal helps franchisees start, grow, and protect their franchises. By developing a franchise business with us you get the assurance that you will be able to establish your franchise business successfully. Our franchise consulting and legal documentation services start from Rs. 15000/-* onwards.
Contact Us
Call/WhatsApp: +91 91372 56150
450, Mastermind One – IT Park, Royal Palms, Aarey Colony, Goregaon (E), Mumbai, Maharashtra 400065.
