Whether you’re a franchisee or a franchisor, the importance of learning never diminishes. You might think once you’ve researched the perfect investment opportunity or gone through the process of franchising your business, your work is done. But here’s why you should never stop learning about franchising.
We’ve collected insights from some of the franchising world’s high flyers. They believe being a franchisee or franchisor is all about continuous learning and development. What follows is their best franchising advice on why you should prioritise learning about franchising.
Listen to understand your obstacles – Pip Wilkins, bfa CEO
“I am constantly evolving and learning. If I don’t know or understand something that is crucial to the business, I try to understand and educate myself, and get help from the team at the bfa, too. We also hold annual events in which I am able to learn from others in the industry.
A good example of this is our Empowering Women in Business (EWIB) event in which we discuss current dilemmas for women in the workplace, and talk about collective struggles and ways in which we can overcome them.
Listening to other peoples’ experiences helps me to understand what obstacles we are currently facing and also what we are doing right. Being a CEO doesn’t mean that I am done learning; I relish the opportunity to learn and better myself.”
>> Read more:
Franchisees and employees value training - Evan Hackel, Franchising.com
“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.”
Research to innovate - Shelley Nadler, Legal Director at Bird & Bird
“The franchisor should have research and development facilities in relation to the products, services or system and the market image projected. It should constantly be seeking to innovate and introduce ideas and methods for improving the business of the franchised network and the operational systems.
The franchisor should be experimenting with new product lines and/or the introduction of new or improved services… A franchisor with company-owned operations can conduct market research by offering the products and/or services in those operations to test the efficacy of their introduction.”
Use training for franchisee and employee growth - Samantha Lang, Content Director at SAP Litmos
“Two groups in particular within a franchise will need quality learning and training opportunities. First, the management and franchise owners need a means of learning how the franchise operates top to bottom, and how their business can be successful within this system. Second, the employees of every franchisee need training to understand how they can individually contribute to franchisee success.
Take McDonald’s for instance, perhaps the world’s best-known franchise. The fast food franchise has always taken a proactive approach to learning across its network. It revolutionised business learning by opening its ‘Hamburger University’ in 1961, designed to teach managers and franchisee owners the secrets of opening and running a high-quality franchise. Since then, McDonald’s has maintained its forward-thinking approach to training for franchisees, managers and their employees, and the approach has undoubtedly contributed to ongoing success.”
There are learning opportunities everywhere - Jeff Oddo, City Wide Maintenance President
“Just like you, I understand we only have so many hours in a day we can dedicate to learning. But it should be a priority, because if you are not evolving as fast as your competition, you are falling behind. Time needs to be set aside on your calendar for this activity.
Remember, all business owners, including franchisees, need to surround themselves with people they can learn from. And if you can’t commit yourself to reading, try other outlets like online classes, podcasts, or even joining organisations…
Whether it’s a client, an employee or a long-time friend I haven’t seen in a while, I try to go out and share lunch with someone every day. Why? It’s a perfect time to learn things from others. I’m always amazed with the conversations I have during that time of the day, and how it can help me come back to the office with a renewed mind, new inspiration, or new ideas I can’t wait to scribble down at my desk.”
Take time for personal development - Satya Narayanan, CL Educate Limited Chairman
“Starting to learn new things that are far removed from work lets me be with myself. Being with oneself helps in innumerable ways, with getting time for introspection being one of the most important… The work schedules that we have in the modern day get skewed in just one direction. Learning new things while being with yourself can help restore balance to your central being.”
>> Read more:
- 5 Qualities of a Successful Franchisor
- 5 Reasons Why A Strong Franchisor-Franchisee Relationship Is So Important
- 5 Ways to Keep on Learning as a Franchisor
- Top 5 Mistakes To Avoid Making As A Franchisor
- What It Really Means To Be a Franchisor
- Ten Ways to Be the Best Franchisor a Franchisee Could Wish For
- Why it’s Important for Franchisors to Visit Franchisees.
Franchise learning and development
Clearly, franchise experts believe in the importance of learning when you’re running your own business ¬‒ and there are plenty of ways to increase your knowledge. Here at Point Franchise, we have a huge collection of useful resources designed to help franchisees and franchisors grow, both personally and professionally.
If you’re enthusiastic when it comes to learning about franchising, you can find plenty of handy guides and informative articles on a range of different subjects. Browse our full catalogue of franchise resources, or take a look at our franchisee or franchisor articles. And if you’re after more ways to boost your know-how and insight on running a franchise brand, read up on our 5 Ways to Keep On Learning as a Franchisor.
Alice Tuffery, Point Franchise ©