Franchise & Business Ownership (Synchronous e-learning)
About This Course
This course aims to address the following:
a. equipping learners with the essential knowledge and skills to select a sound franchise by evaluating their brand value, products or services, marketing plan and checking the Franchise Disclosure Document (FDD) for number of franchisee turnover;
b. guiding learners to adequately consider the legal, financial and business risks associated with buying a franchise to prevent short-lived franchise ownership;
c. helping learners to determine if franchise is right for them by taking into consideration their personality type, financial standing or risk appetite, their abilities and past business experiences and also their goals;
d. empowering learners with the knowledge and abilities to comprehend franchise contractual obligations including compliance, termination and renewal clauses;
e. teaching learners the right questions to ask or interview current and former franchisees in order to verify the franchisor’s claims;
f. equipping learners with general business knowledge and abilities in areas such as accounting, employee relations, time management and customer service;
g. empowering learners to have a business owner mentality by overseeing the whole business and delegate/manage instead of thinking of performing the function of the business;
h. offering learners a good understanding of financial accounts in order to predict monthly cashflow;
i. helping learners to prepare and perform well for the interview process by the franchisors;
j. empowering learners with the knowledge and abilities to comprehend different financial considerations and obligations of franchisees, as well as the legal and commercial framework of franchising, so that they can compute and manage the financial requirements and organisational resources effectively;
k. understanding the roles and responsibilities between franchisors and franchisees, to know what support systems are in place to ensure success of new franchise unit.
What You'll Learn
The proposed curriculum on Franchise & Business Ownership seeks to equip and enable learners to perform investment appraisal techniques to assess the suitability of franchise investments, as well as to implement, oversee and evaluate procedures for franchise setup and operational plans. This includes the roles and responsibilities between franchisors and franchisees, determine resources required to operate a franchise and provide recommendations for improvement.
Two-pronged training approach of theory-and-application naturally blends the e-learning with a wide range of hands-on and interactive activities in order to engage the learners as well as ensure that the content is properly internalised. At the end of the course, there will be various assessments in different engaging formats to ensure participants have managed to grasp the concepts taught.
This course is targeted at existing or aspiring individuals who are or wish to become a franchisee. These are mostly Professionals, Managers and Executives (PMEs) who are reconsidering career options, in career transition, and evaluating the feasibility of acquiring a franchise to become a business owner. The job functions related to a franchise business may include sales and marketing, business development, finance and accounting, legal, human resource management, training, procurement, logistics and supply chain fulfilment, operations and overall company management.
Entry Requirements
Learners should be between 25 to 60 years of age and have at least 2 years of professional experience in sales, accounting, marketing, service, business development or business support function. They should be accustomed to working in the retail, food & beverage, education, enrichment, hospitality, lifestyle, services or wholesale environment.
Learners are likely to have at least a diploma or degree, or equivalent educational qualification.
Learners should be able to listen to, speak, read and write English at a proficiency level equivalent to the Employability Skills System Workplace Literacy (WPL) Level 4; and use numeracy skills equivalent to the Employability Skills System Workplace Numeracy (WPN) Level 4. In addition, they should possess basic IT proficiency that extends to the use of the internet and Microsoft Office software including Word and Excel or their equivalent.