Knowledge is Power For New Franchisees

Anyone thinking of buying a franchise needs to rely on much more than just their ‘gut feel’ when making such an important decision and investment. 

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Griffith University’s Asia-Pacific Centre for Franchising Excellence is providing a range of tools and resources to take you well beyond that ‘gut feel’…

Education is the foundation stone for any successful and sustainable journey in franchising. This should not just start when you buy a franchise. Pre-entry education prior to reaching this point is crucial in plotting the right path for your future as a franchisee. Griffith University’s Asia-Pacific Centre for Franchising Excellence is an invaluable resource for anyone looking to embark on a new career as a franchisee. It is completely independent and impartial and there are no vested interests or selling of franchise systems.

The Centre was launched by Brisbane’s Griffith University in 2008, formalising the University’s commitment to franchising research and education developed over more than a decade. Its aim is to advance franchise sector best practice through independent research, education, resources and events.The Centre provides a range of easy-to-access and in many cases FREE online pre-entry, business survival and management essentials education programs that should be the first port of call for anyone new to the franchise sector or looking to buy a franchise.

These programs are designed to enhance due diligence levels, decision making and awareness of everything involved in franchising, including how franchising works, how to manage your new franchise business, compliance with the Franchising Code, and challenges that can be faced along the way. The authentic and ethical nature of these resources is what sets the Centre apart in the franchise sector. The aim is to get franchisees thinking, asking questions, finding answers, and making well-informed decisions about their future.

The end result of improved levels of early education is more franchisees entering the franchise sector with their eyes wide open about exactly what they are getting into. This in turn leads to more satisfied, successful and sustainable franchise owners. 

Pre-Entry Franchise Education Program (FREE Program)

One of the key offerings from the Centre is its free online program that was developed by the Centre, is funded by the Australian Competition & Consumer Commission (ACCC) and was introduced in 2010 in order to boost franchisee due diligence levels and limit future conflicts in franchising. The Pre-Entry Franchise Education Program recently passed a major milestone with its 10,000 registered participant, demonstrating the demand for easily accessible, self-education by prospective franchisees before they commit to buying a franchise.

The Centre specifically developed this program following franchise conflict research findings that highlighted the need for new franchisees to do more due diligence before signing a franchise agreement. Research by the Centre has shown that many franchisees enter franchising with unrealistic expectations, which can be a major cause of future conflict.

The Pre-Entry Franchise Education 

Program aims to address this issue by empowering would-be franchisees to make better and more informed decisions and has proven to be an important stepping stone and confidence builder for those entering the franchise sector. The free online program consists of five modules, with each module taking about 40 minutes to complete. The modules area combination of video, audio and text and include an assessment quiz at the end to test participants understanding of the content. Upon successful completion, participants receive a certificate of completion.

More Education

Other valuable franchisee education programs provided by the Centre include the Franchise and Small Business Survival eClass, which covers key areas in business management including contractual understanding, partnerships, expectations, and debt levels which without proper understanding may lead to business failure. 

The Franchise Business Management Essentials eClass is another short online course for people looking to buy a franchise or who have recently become a franchisee. These eClasses are designed to supplement franchisor training by addressing key areas which often lie outside franchise training, with a focus on core business management skills. 

The Centre also runs a two-day practical workshop, Franchisee Financial Essentials, to demystify the complexity of working with numbers in franchise businesses by providing franchisee with an understanding of the business and financial management essentials and their impact on profit and growth. 

These are just some of the educational programs from the Centre that can help to set new and prospective franchisees on the right path to franchise business success. The Centre offers a wide range of resources, professional development events and educational programs for both franchisees and franchisors, as part of its ongoing commitment to continual learning and improvement across all aspects of the franchise sector.