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If you ask a dozen franchise executives and franchisees, you'll probably get a dozen answers to what builds success. Some will talk about focusing on finding the greatest franchise owners and helping to finance their investment. Others will speak of the importance of having a compelling product to sell, or ensuring that every new franchise opens in only the optimal locations.
And those people are right. Those considerations--and others--play a big role in determining how quickly a franchise concept grows, how much money owners can earn, how a franchise can stay competitive in a crowded marketplace, and more. I would like to offer a different opinion, based on my many years in franchising.
Training is the most important thing that franchise companies should focus on at every stage of their development. Why do I know that training can play such an outsize role in helping franchises succeed quickly and well? I could point to research, and there is a lot of it.
To cite just one example, a survey of 1,500 Millennials and younger workers found that training is their top concern when they are looking for jobs ("The Millennial Study" by Accel + qualtrics, 2018). If you are a franchisor, you know that Millennials and younger individuals make up the biggest percentage of your owners and their teams. And remember, members of all generations value training. Training provides assurance and shows that your company values your employees enough to invest in them.
Let's look at some of the reasons training strengthens your franchise and helps it grow.
Virtually all training improves employee satisfaction, competence, and retention. However, let me call special attention to these six forms of training. Are you putting them to good use?
Training is much more than something that teaches people "how to do things." It is the lifeblood and future of your franchise. Training gives your company a bright, bright future. Through training you will thrive because your workforce will consist of committed employees who are growing, motivated, and who love being part of your company.
Evan Hackel is CEO of Tortal Training, a leading training development company, and principal and founder of Ingage Consulting. With 35 years as a franchisor and franchisee, he is a speaker, hosts "Training Unleashed," a podcast covering training for business, and is the author of Ingaging Leadership. Follow him at @ehackel or call 704-452-7368.