Be it in the real estate brokerage industry or in another career environment: Long-term successful franchising relies on a wealth of specialist knowledge and the routine handling of the mechanisms and information foundations of the respective franchise system, in addition to a number of other factors. In order to learn the necessary skills and to keep them up to date in the course of your career, you can take advantage of various training courses, further education and training offered in different places. Usually, the learning process in franchising goes through two consecutive phases, which we present to you in this article. In addition, you will learn which training options you can expect in the real estate broker franchise by Engel & Völkers. Continue reading!
Typically, your franchise-specific learning process starts immediately after the signing of your license agreement with the franchisor. Both the European Commission and the Code of Conduct of European Franchise Associations require that each franchisor provides its licensing partners with previously acquired experience. In a first step, this is usually implemented in the form of an initial training, which each new franchisee of a system experiences. This includes, for example, seminars on the fundamentals of the business model, proven marketing measures and personnel management. But also accounting, tax law and franchise law can be on the timetable. Often associated with this is also a practice week in another company of the respective franchise network, which takes place at the same time or after the seminars. Get insights into the day-to-day operations of your industry and gain valuable hands-on experience right from the start, which you can soon apply to your own business.
Combining the theoretical and practical elements of this entry-level course will allow you to familiarize yourself with the key system-inherent features of your new franchise environment and, secondly, the experience provides an important equality tool. This is the only way the franchisor can ensure that each new licensing partner receives the same level of basic knowledge to succeed in the new independent career.
After successfully completed initial training, what follows is the phase of ongoing business operations, ideally characterized by many years or decades of successful corporate governance. Over such a period of time, management strategies, product ranges and market requirements are subject to constant change, requiring continuous updating of your expertise. Part of this can be done through daily work practice according to the "learning-by-doing" principle, but some aspects require targeted training that you should pursue elsewhere. Many franchisors also offer training in this context, including the latest industry innovations, current organizational trends or modern personnel management. Regular participation allows you to benefit from the latest insights of your franchisor and thus increase the efficiency and competitiveness of your company in equal measure. In some cases, it can also be useful to take part in external training courses offered by third-party providers such as private universities or academies, depending on the specific content you are interested in and how your franchisor is positioned in this area. In principle, however, a reputable franchisor should have at least a backbone of the most important training content you can rely on - ideally, check it out before the contract signature to draw conclusions about the quality of the franchise offer in general.
In principle, the second phase is a continuous development process that only ends with the end of your franchise career. Progress and a future-oriented mindset are important prerequisites for your business success - do not give stagnation a chance.
Engel & Völkers considers a stable knowledge base to be a prerequisite for productive work within our real estate broker network. For this reason, we have launched the Engel & Völkers Academy.
Its extensive training content is addressed to every employee of our franchise system. For our licensing partners, the "Ready to Manage!" Program offers us a sound base of skills and specialist knowledge, which consists of modules in the areas of employee management and recruiting as well as individual coaching. The "Ready to Sell!" Program also teaches you all the basics of modern real estate brokerage, depending on the focus of your real estate shop on residential or commercial real estate.
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