Franchise Management Archives | UofL Online Programs

Franchisee Leadership Makes A Difference

By admin | February 13, 2019

By Kathleen Gosser, Ph.D.

In order to ensure consistency, your franchisor will have established standards and procedures for their franchise locations. The goal of the franchisor is to guarantee uniformity so that customers have the same experience at each location. To ensure compliance with these standards, your franchisor will most likely have regular audits.

However, in order to excel in today’s world, a franchisee should have his/her own leadership footprint in the operations—going above and beyond the minimum standards set by the franchisor.

By definition, franchising means you are provided with a business plan that has a proven track record of results. Your franchisor will provide you with this business model, which will guide you in getting your franchise up and running.

What is Leadership Footprint?

It is your mark as a franchisee on your business. You own the culture of your establishments. Though your franchisor will have goals and a vision, you should too. You should share your values with your teams so they understand and recognize your leadership.

You also should have your own strategic vision of where you want to take your franchise in the future.

Having an annual operating plan as well as a 3- or 5-year vision is critical for success. Your franchisor will have goals for the entire system, but only you can know what you expect in your own operation.

Defining Your Strategy

Understanding how to write a mission statement, vision statement and strategic plans is essential for success. You may be able to survive a year or two, but to be truly successful, you need to define the roadmap for where you are headed. This would include goals around sales, profits, people and growth.

This is the type of information you won’t necessarily learn from your franchisor—and yet another reason why additional education from an accredited b-school is critical in your journey. With a program like the Franchise Management Certificate from the College of Business at the University of Louisville, you can learn the necessary skills to create a strategic plan as well as learn proven leadership theories.

For more information on the program, visit uofl.me/2E7vHTf.

Dr. Kathleen Gosser (PhD, University of Louisville) is an experienced leader in the franchise industry and a passionate educator. In her 30 year career in the franchise industry, she has enjoyed numerous roles, including leadership of customer satisfaction programs, operations measurement, employee recognition, training and team member engagement efforts. She also had direct P&L accountability as the Region Coach of 10 restaurants in Louisville, Kentucky.

This blog post was originally published on Fransocial.

What You Won’t Learn From Your Franchisor

By admin | January 15, 2019

By Kathleen Gosser, Ph.D.

So, you have entered into a franchise agreement with a well-established and successful franchisor. You have an entrepreneurial spirit, capital and drive. You believe that you are on your way to infinite success due to the guidance and support you will receive. You are all set… or are you?

A signed franchise agreement does not guarantee that your franchisor will teach you all you need to be a successful business owner. While you will receive a proven business model, there are many facets to running a business that you may not receive from your franchisor.

Department of Labor Impact on Franchisee Training

In 2016, the Department of Labor (DOL) provided insight on the interpretation of “Joint Employer.” The Wage and Hour Division of the DOL views joint employment in the franchise world to mean an individual worker is an employee of both the franchisee and franchisor.

This law has significant impact on the support, training and guidance a franchisor will provide.

There are provisions to make the final determination that include directing or controlling the work performed, employment conditions (hiring and firing), repetitive work (very often present in franchises) and the work is performed on the premises. In light of this interpretation, many franchisors are backing off the support they provide in terms of Human Resource guidance and advanced leadership skills training.

An Education Gap in Franchising

There are other constraints in place that prohibit franchisors from providing all the information needed to make strategic decisions as a franchisee. Gaps in franchisee education include how to ensure you remain profitable, including managing labor and cost of goods sold, or how to fund your franchise and growth is not always readily available information. For example, while pricing recommendations can be made, the franchisee has the right to price however he/she chooses in the marketplace—thus an area where guidance could be extremely beneficial.

The Business School Proposition

How do franchisees find the information they need to be successful? Aside from gaining and learning from hands-on experience, they have to search for it. There is a great deal of information online; however, it takes some digging. There are courses available through the IFA as well.

But nothing matches the education that can be earned from a business school.

Coupling a great franchise with sound business principles is a recipe for success. Business schools impart the knowledge you need to better understand the higher level strategic needs as well as the franchisor business model.

To meet this education need, the AACSB-accredited College of Business at the University of Louisville recently launched an innovative, one-of-a-kind Franchise Management Certificate, with the first cohort starting coursework in February 2019.

For more information on the program, visit uofl.me/2z6cmhL.

This blog post was originally published on Fransocial.

Building a future in franchise management—newly launched online certificate

By Ashley Jefferson | August 30, 2018

Aiming to address a current education gap in business education, the University of Louisville’s College of Business recently launched the innovative Franchise Management Certificate—designed to prepare franchisees to own their future!

Targeted toward current and future franchise owners, this program delivers expertise in areas fundamental to franchisee success such as franchise team management, franchise law, human resources management, finance, strategic planning and more.

The University of Louisville is working closely with the International Franchising Association (IFA) to align the requirements for credits to apply toward the Certified Franchise Executive (CFE) certification.

“Understanding where the gaps in knowledge remain within the industry was crucial to developing a truly student-centered certificate program. Through close partnership with industry experts and experienced franchise managers, the Franchise Management Certificate emphasizes ‘real world’ application to best prepare graduates for a successful future in franchising.”
Todd Mooradian, Dean, UofL College of Business

Notably, the program offers 5-week terms, meaning students can complete the 6-course program one class at-a-time in a just over half a year.

The Franchise Management Certificate is the first in a series of specialized online certificate programs designed to support growth in key industries unique to Louisville.

“Online learning is an extremely important area of growth for the University of Louisville. We continuously strive to offer programs that deliver education at the standard of quality the University is known for while also meeting the needs of today’s adult learners. The online Franchise Management Certificate is just one example of our commitment to bring innovation to higher education.”
Kristen Brown, Associate Director, UofL Online

Want to find out how you can build a stronger future in franchise management? Visit uofl.me/2ws39j2 today!

Tag: Franchise Management