What Training Can You Expect from a Business Coaching Franchise?
If you’re considering a business coaching franchise, the quality of their training probably has something to do with it. But what training can you expect from a business coaching franchise?
In the typical franchise, as soon as you sign the Franchise Agreement, you will be scheduled for the next available training date. This training is designed to deliver a lot of content and to justify the large franchise license fee that you just paid for. It’s usually one to two weeks of long and intense training, often taught by corporate instructors and occasionally by successful franchisees from the field.
You will be taught the history of the company and its position in the industry. You’ll spend some time learning how to interact with corporate headquarters and the franchisor’s policies and procedures. But the training is primarily designed to teach you the franchisor’s methods for running your franchise.
Remember, as a franchisee, you are not only representing yourself to the public, but you are also representing the franchisor. There is a vested interest for the franchisor to teach you how to properly represent their brand. Since the franchisor will continue to make money from your sales efforts, it is important for the franchisor to teach you about the products and services you sell and show you how to sell them effectively.
What Is the Training Experience Like?
For those readers who have large corporate experience, this training will be no different from what you would expect if you were hired by a large corporation with one exception. You are paying for this training! So, participate in it as fully and unreservedly as possible. Who knows, you might end up saying later, as many franchisees have, that the initial training was actually the best and most valuable part of the entire experience, with the rest being a major disappointment.
You might end up saying later, as many franchisees have, that the initial training was actually the best and most valuable part of the entire experience, with the rest being a major disappointment.
Most franchisors hold training in a resort close by their headquarters. There are two reasons for this. First, it is in the franchisor’s best interest to get you into their headquarters as quickly as possible (if you haven’t already done so as part of your due diligence), where you can meet the staff and see the tangible side of the business you’ve just purchased.
The second reason is that if you are sitting in a fancy hotel overlooking the ocean or the mountains, you’ll equate the luxury with the quality of the training you’re receiving. It’s all part of the process to help you overcome any feelings of buyer’s remorse.
Once your training is complete, you will be handed over to some kind of manager who will handle your development from that day forward. These managers are usually employees or regional management types who have purchased the rights to manage entire territories, including the one you’re in. These regional managers are usually known as “Regional Developers” or “Master Licensees.”
From this point onward, the real work begins and your success is completely incumbent upon you. If you’ve made a wise investment, the people managing you will have a good track record of helping you get your business started. If not, you will be almost entirely on your own.
Want more insider tips and behind-the-scenes due dilligence hacks for purchasing a business coaching franchise? Check out our FREE ebook, The Business Coaching Franchise Buyer’s Guide.