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Follow on Google News | Research reveals effectiveness of pre-entry franchise education for franchiseesProspective franchisees that complete pre-entry franchise education are more likely to buy a franchise and experience greater levels of satisfaction than people who don’t, according to new research from Griffith University.
Research reveals prospective franchisees that complete Griffith University’ The research, funded by the Department of Industry, Innovation, Climate Change, Science, Research and Tertiary Education (DIICCSRTE) and cited in the Australian Government’ Lead researcher and Centre Director Professor Lorelle Frazer says the research results reveal people who undertook the Pre-Entry Franchise Education Program had certain characteristics that made them stand out from those who did not undertake the program. “People who completed the pre-entry program were more likely to be investigating the possibility of buying into larger franchise systems and therefore spending more money,” “They were also more anxious about approaching the decision-making process and as a result were more diligent in the initial stages of information search. “Although they approached the decision to buy a franchise with much more trepidation than those who didn’t complete the program, they were actually more likely to buy a franchise with 64 per cent becoming franchisees, compared to only 40 per cent of those who didn’t complete the program.” The research also reveals people who complete the program enter franchising with much more realistic expectations resulting in higher satisfaction levels, and have a greater appreciation of factors that influence their franchise unit’s performance. Professor Frazer says while the research highlights the advantages of completing the Pre-Entry Franchise Education Program, it also identifies areas for further development. “The research demonstrates the Pre-Entry Franchise Education Program is instrumental in assisting prospective franchisees to make informed decisions,” “However, areas such as information source awareness, participation motivation, program development and promotion could be improved to further assist prospective franchisees.” The Centre will use the research findings to create practical resources addressing these areas including a toolkit for prospective franchisees, expanding the modules, engaging franchisors in the promotion of the program and more. The research involved in-depth interviews with 50 prospective and current franchisees, followed by a national online survey of 520 prospective and current franchisees. Other members of the research team included Centre Research Professor Debra Grace, Centre Deputy Director Associate Professor Scott Weaven, and Centre Researcher Professor Jeff Giddings. Download a copy of the research report Download a free copy of the Preparation for Franchising: Background on the Pre-Entry Franchise Education Program The Pre-Entry Franchise Education Program was developed by Griffith University's Asia-Pacific Centre for Franchising Excellence and funded by the Australian Competition and Consumer Commission. Since the Program’ /ENDS End
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