During this week’s blog edition, we’re going to look into the benefits of attending a franchise seminar. If you’re currently deep in the investigative process or recently decided to “kick the tires” of entrepreneurship, a free franchise seminar could easily be worth your time. And we’re not necessarily talking about national conventions or trade shows, but rather local workshops where you can get franchise education, sales, financing and mentoring information. It also doesn’t hurt to meet and converse with other like-minded individuals ready to take control of their financial future.
If you are looking to brush up on your overall franchise knowledge and meet a few other people who share your interest, an in-person seminar is a great place to start. But it isn’t your only option. You can also seek the same type information by logging on and watching a franchise webinar series from the comfort of your own home. Since almost all of these webinars are saved and archived, you can even watch them at your leisure.
Some franchise seminars are hosted by franchise consultant groups for the precise purpose of educating potential franchisees while simultaneously investigating multiple business concepts across a range of categories. Some franchises run their own seminars for a more in-depth look at the operating procedures and success stories of their particular brand. Information on attending either type is readily available through a simple Google search.
Whether you attend an in-person seminar or a webinar on your own timetable, here are the most common themes you’re likely to encounter:
- A basic look at the franchising business model – What it is, why it exists, advantages and disadvantages of owning a franchise. Also included is a look at the franchise investigative process.
- Funding – Whether you self-fund or borrow, you’ll learn what resources are available to you, different funding routes, advantages and disadvantages of different funding options and maybe one or two creative funding methods you hadn’t considered.
- Advantages and disadvantages – What makes franchising great? What are some of the most common challenges? Should you buy an existing business or a franchise of your choosing?
- Validation – in all likelihood, your franchise seminar panel will include existing or past franchise owners. You will also have the opportunity to have a comprehensive discussion about their experiences to see whether or not franchising is a fit for you.
If you do decide to look into attending a local franchise seminar or workshop, pay careful attention to the organization and people putting it on. Do your best to seek out franchise seminars that portray an objective approach on becoming a franchisee. Unless you’re attending a branded franchise presentation, avoid seminars and workshops designed to influence a quick decision. You’re there to learn, not to be hot-boxed into a deal on the spot.
Some franchise seminars, especially those on a larger national scale, may require a nominal fee for participation—usually to cover the cost of provided materials. Most local workshops are 100 percent free. Do some research to see what advantages there are to attending either kind.
When you do attend, make sure to bring a notebook in order to jot down important details you’ll want to look up later. A few other helpful pointers?
- Dress appropriately—business casual is best.
- Be attentive.
- Ask questions and join in on the conversation.
- Introduce yourself to others.
- Get business cards and follow up with the contacts you meet.
Attending a franchise seminar can be an extremely insightful experience when it comes to the ins and outs of owning your own business. It’s definitely worth checking out the availability of a workshop in your area or perhaps even a national seminar or trade show. If you really want to see what a day in the life of a franchisee looks like, those who host franchise seminars and workshops can be an excellent source of information.
As a franchisor, you’ll want to know which existing and potential franchisees best fit your business concept. Proven Match is the proven solution in determining those factors.
Through our proven behavioral assessment techniques, predictive analysis becomes predictive success for your franchise concept. If you’re ready to show your leadership by getting started, give us a call and we’ll put you on the path to a more productive year in 2016.