Where can I find a description of the current initial training program for Crown Gold Exchange?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
The current initial training program is described below.
Training classes will be scheduled in accordance with the needs of new franchisees. We anticipate holding training classes in advance of the opening of the franchisee's location, doing so at our corporate office and retail locations in California
The instruction materials consist primarily of our Onboarding Checklist which contains links organized by section for all applicable written procedures, training videos, learning checks referred to as Knowledge Reviews (automatically graded with correct answers provided, with a structure in place requiring successful completion via a minimum score threshold), and a shadowing/coaching checklist and approval process all required to successfully and fully complete the necessary training. Additional instructional material will be provided consisting of additional
similar training (additional procedures, additional video training, additional checklists, etc.) for "higher-level" functions required of the franchisee and/or the individual acting as the owner/operator and/or manager of the franchisee.
Training classes will be led by the franchisor(s) and/or its delegate(s), such as a corporateemployed, tenured individual who has been delegated to lead some or all aspects of training (i.e. a manager / assistant manager / senior employee who works at a corporate (franchisor) location). Some aspects of training classes will be self-directed and led by the franchisee themselves as they follow the training structure in place which would include video training and the aforementioned instructional materials created by the franchisor/corporate (so in that sense, it is still being led by the franchisor/corporate/its delegate(s), just done remotely and/or by pre-recorded materials listed in the Onboarding/Training structure).
The instructor, of the franchisor(s) have experience dating back to the establishment of corporate. Franchisor/corporate delegate(s) may have various lengths of experience depending on the individual delegate, but they would typically have minimally one year of experience, if not more, and have had successfully completed both their own training and facilitation of others' training in the past; the delegate(s) would typically be in a management role at a corporate location or be a "senior," tenured employee if not in a formal management position.
| Subject | Hours of Classroom Training | Hours of On-The Job Training | Location |
|---|---|---|---|
| Introduction and Overview - The Industry - The Business Model - The Brand - Establishing the Location - Working together with the Franchisor | 8 | - | Our Location, Rancho Santa Margarita, CA or Your Location or Virtual |
| Operations and Management - Buying - Selling - Staffing - Customer Service - Admin - Insurance - Reporting - Technology and Systems | 8 | 40 | Our Location, Rancho Santa Margarita, CA or Your Location or Virtual |
| Marketing and Sales - Brand - Competitive Overview - Advertising and Marketing - Closing Business - Marketing Collateral and Tools | 8 | 8 | Our Location, Rancho Santa Margarita, CA or Your Location or Virtual |
| Grand Opening and Launch | 2 | 8 | Your Location |
| TOTALS: | 26 | 56 |
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 19–24)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, Item 11 contains details about the initial training program. The FDD specifies that Crown Gold Exchange will conduct an initial training program, with the current program described in that Item.
The training classes are scheduled based on the needs of new franchisees and are anticipated to be held before the franchisee's location opens. These classes take place at Crown Gold Exchange's corporate office and retail locations in California. The training materials primarily consist of an Onboarding Checklist, which includes links to written procedures, training videos, Knowledge Reviews (automatically graded with correct answers), and a shadowing/coaching checklist with an approval process. Additional instructional material will be provided consisting of additional similar training for "higher-level" functions required of the franchisee and/or the individual acting as the owner/operator and/or manager of the franchisee.
The training classes are led by the franchisor(s) and/or its delegate(s), such as a corporate-employed, tenured individual who has been delegated to lead some or all aspects of training. Some aspects of training classes will be self-directed and led by the franchisee themselves as they follow the training structure in place which would include video training and the aforementioned instructional materials created by the franchisor/corporate. The instructor, of the franchisor(s) have experience dating back to the establishment of corporate. Franchisor/corporate delegate(s) may have various lengths of experience depending on the individual delegate, but they would typically have minimally one year of experience, if not more, and have had successfully completed both their own training and facilitation of others' training in the past; the delegate(s) would typically be in a management role at a corporate location or be a "senior," tenured employee if not in a formal management position.
The training program includes a total of 26 hours of classroom training and 56 hours of on-the-job training. The classroom and on-the-job training cover topics such as introduction and overview of the industry and business model, operations and management, marketing and sales, and grand opening and launch. The training locations are either at Crown Gold Exchange's location in Rancho Santa Margarita, CA, the franchisee's location, or virtually.