First Steps to Successful Franchise Ownership | NTY Franchise

First Steps to Successful Franchise Ownership

NTY Franchise Ownership Training

Now for all brands at NTY, the general training process is as follows. Once you actually go through your research and decide that you want to join us, you execute a franchise agreement and pay your initial fee..  now the exciting fun part begins. You generally want to get it within about 30 days of assigning and executing that franchise agreement with us. And it’s fun because you get to begin to really work towards opening up your brand new business. So within 30 days generally you are going to attend our first week of training- business training.

There are lots of things that are covered, this is outlined in our materials. Some of the highlights are we are going to help you with a very comprehensive business plan, how to approach banks, put your funding and financing together for your business, and we are going to give you education on site selection and real estate. You have heard the old phrase- location, location, location. It is very important and we are going to train you on how to go about that site selection process. In addition to all of the things that are going to happen within that first week of training, you will go home and begin working with the backs, making your presentations, and putting your financing together. At the same time, we are going to assign to you a real estate leasing broker as part of our national network. They know the local market, and they have also been trained on what we can afford, our site requirements, and so on. So you will get a bit of education, the local broker we align you with has been educated as well, and you are going to hunt down sites within your market area.

Now, once you get to the point that you have a signed lease that the landlords have returned back to you,  you will come into the second and third weeks of training that are back to back. Here we are going to teach you and your store manager how to open and operate your business. After week two and three you are about 10-12 weeks away from your grand opening. You will begin training and recruiting staff, hiring, running advertising the marketing process, and so on. We will be tracking this process with you every step of the way.

Just to recap, there is one week of training right within the first 30 days within you signing your agreement. You go out and put your bank financing together, real estate and site selection. Then you will attend weeks two and three of how to run and operate your store. This will include both classroom and hands on training in a real, live, hands on store, profit and loss responsibilities. Then you will go back home and build out your store, run your advertising and marketing, build your inventories and all of the other processes involved. This is a quick recap on the training that happens prior to your grand opening.