Companies that choose to franchise spend a lot of time considering the risks involved.
While the potential to grow earnings is great, possible roadblocks of franchising include:
- Trouble communicating with franchisees
- Failure to effectively distribute training materials
- Inability to instill franchisees with ownership in the company
To avoid these obstacles and ensure franchisees preserve the quality business management that initially made the company successful, an eLearning center needs to be put in place. In fact, carrying out an effective franchise strategy can be easy when using a social learning management system (LMS).
Implementing a social LMS that puts multipurpose communication channels, virtual training options, and unique collaboration tools at a company’s disposal, can help franchisees fulfill their commitments to quality business management. The following three features display how an LMS can help reproduce a company’s successful business model through franchising.
1. Give Sense of Ownership with Two Way Communication Channels
A social LMS platform ensures multipurpose communication tools, like video conferencing, screen sharing, realtime chat and more, are available to both the company and business owner. When franchisees have access to the franchisor, questions can be answered quickly and problems will get resolved. This allows for an increased sense of confidence in the business.
2. Ensure Quality Business Management with Virtual Training Options
Effective training is a crucial part of ensuring franchisees will preserve quality business management. With cloud based technology, an LMS ensures training options are available to franchise owners at any time, through a variety of devices. In addition, easy administration tools guarantee updated training curriculum is instantly distributed to all franchisees.
3. Offer Ongoing Support with Unique Collaboration Tools
Every franchise will have different organizational needs. Ongoing support can be provided through an LMS that offers collaboration tools. Using online profiles, franchisees can upload bios and pictures, establish a virtual community, keep track of employee training schedules and more. In addition, there is the possibility to connect with a larger support system provided by the company.
An LMS that includes these features and assists the execution of franchise strategies is TOPYX®. The award winning social learning management system is available for a flat rate annual subscription that allows a company to expand franchise initiatives without increasing training costs.
Request a free demo of TOPYX today and explore the most affordable option in franchise training and communications.
Franchising is a big decision for any company. Tools for communication, virtual training, and collaboration are necessary.
An LMS is the best way to help franchisees with quality business management. Acquire a trusted system and achieve business growth.
Jeffrey A. Roth
Vice President, Marketing and Communications