Franchisors are stepping up training programs for new franchisees and adding refresher courses for seasoned ones in an attempt to increase their chances of success. “The franchisers want to give [franchisees] the best possible chance in this economic climate,” IFA President and CEO Steve Caldeira said. “The last thing a franchiser wants is to offer a franchise to an underqualified franchisee, no matter how much capital they have. It’s all about protecting the brand.” With lenders looking to mitigate risk, training can make a franchisee look better to banks, Caldeira added.
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