Do You Need a Degree in Franchising to be Successful?
There’s a growing debate surrounding whether or not those interested in a career in the franchising industry—either as a franchisee or at some other level of a franchise system—should pursue a degree in franchising. It’s an interesting topic that’s growing in importance as the industry continues to grow, but what options are out there for aspiring students, and do they add any more value than traditional degrees?
According to a recent article from Entrepreneur, there is only one university in North America currently offering a major in franchising: Michigan’s Northwood University. In fact, according to an unpublished review cited in the article, only 16 schools of the 300 surveyed have offered at least one course devoted to franchising since 2010.
Judging by these numbers, it’s clear to see that franchising is not a common course of study, but that is slowly changing. As franchising becomes a more feasible and popular way to start a business—particularly among millennials who are drawn to an opportunity that can be started quickly for a relatively modest investment—more schools across the country are taking notice and beginning to add courses, new facilities, and staff to accommodate the growing interest in the field.
However, the majority of people who will be entering the franchise industry over the next several years will have more traditional educational backgrounds, rich in marketing, logistics, and management courses, and this is not necessarily a bad thing. Established franchisors, such as AtWork, have spent years developing strategic plans for their franchisees that will help maximize their chances of success. Think of it as continuing education that is hyper-focused on skills that will be used in the business daily.
Franchisor training programs are designed to equip franchisees with the knowledge, tools, and practical skills necessary to succeed. Building on the core competencies that a franchisee may have acquired in school or their professional career, training programs dig into the fine details of operating the specific business and include instruction in sales, marketing, human resources, accounting, and more. Arguably, this time of focused instruction better prepares the franchisee for the challenges they will face with their new business than a traditional education, thanks to the intense concentration on daily operations.
As franchising continues to grow in popularity as a way for aspiring entrepreneurs to start their own business and better control their careers, more classes will no doubt begin to pop-up in universities across the country, and rightfully so. In the meantime, intensive franchisor training fills the gap and helps ensure franchisee success.
If you’d like to learn more about the AtWork opportunity and our industry-leading training program, click HERE or call 888-553-1745 today!