factual

What is included in Crown Gold Exchange's opening support?

Crown_Gold_Exchange Franchise · 2024 FDD

Answer from 2024 FDD Document

  • B. Constructing, remodeling, or decorating the premises. We will provide you with a set of our standard building plans and specifications and/or standard recommended floor plans, and our specifications for required décor. (Section 5.4)
  • C. Hiring and training employees. We will provide you with our suggested staffing levels (Section 5.2), suggested guidelines for hiring employees (Section 5.2), operational instructions in the Manual which you can use as part of training new employees (Section 5.3), and our initial training program described below. Our opening support (as described below) includes assisting you in training employees. All hiring decisions and conditions of employment are your sole responsibility.
  • D. Necessary equipment, signs, fixtures, opening inventory, and supplies. We will provide you a list of our specifications and approved suppliers for equipment, signs, fixtures, opening inventory, and supplies necessary to open your business. (Section 5.4) We do not provide these items directly; we only provide the names of approved suppliers. We do not deliver or install these items.
  • E. Brand Standards Manual. We will give you access to our Brand Standards Manual (Section 5.1).
  • F. Initial Training Program. We will conduct our initial training program. (Section 5.4). The current initial training program is described below.
  • G. Market introduction plan. We will advise you regarding the planning and execution of your market introduction plan. (Section 5.4)
  • H. On-site opening support. We will have a representative provide on-site support for at least 3-5 days in connection with your business opening. (Section 5.4)

| 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 | | 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).

You must complete training to our satisfaction at least two weeks before opening your business. You will be required to pass a test which evaluates your understanding for the content and franchise operating content as covered in the training program. Should you fail to pass the test or complete the initial training, we have the right to terminate the franchise agreement with no refund of the initial franchise fee.

Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 19–24)

What This Means (2024 FDD)

According to the 2024 Crown Gold Exchange FDD, opening support includes several key elements to help franchisees launch their business. Crown Gold Exchange will provide standard building plans and specifications, recommended floor plans, and décor specifications to assist in constructing, remodeling, or decorating the premises. They also offer suggested staffing levels and guidelines for hiring employees, along with operational instructions in the Brand Standards Manual, and assistance in training employees.

Crown Gold Exchange will provide a list of specifications and approved suppliers for necessary equipment, signs, fixtures, opening inventory, and supplies. Franchisees also gain access to the Brand Standards Manual and participate in an initial training program. Furthermore, Crown Gold Exchange will advise franchisees on planning and executing a market introduction plan and provide on-site support for at least 3-5 days during the business opening.

The initial training program consists of 26 hours of classroom training and 56 hours of on-the-job training. The classroom training covers introduction and overview of the industry, business model, brand, establishing the location, and working with the franchisor. It also includes operations and management topics such as buying, selling, staffing, customer service, administration, insurance, reporting, and technology and systems. Marketing and sales, including brand overview, competitive analysis, advertising, marketing, closing business, and marketing collateral and tools, are also covered, along with grand opening and launch procedures.

The training classes are scheduled based on the needs of new franchisees and are held at Crown Gold Exchange's corporate office and retail locations in California. The training materials include an Onboarding Checklist with links to written procedures, training videos, Knowledge Reviews, and a shadowing/coaching checklist. The classes are led by the franchisors and/or their delegates, who are experienced individuals from corporate locations. Franchisees must complete the training to Crown Gold Exchange's satisfaction and may have their franchise agreement terminated without a refund of the initial franchise fee if they fail to pass the test or complete the initial training.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.