What support does Crown Gold Exchange offer regarding hiring and training employees?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
- B. 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.
| 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 |
There is no fee for up to 2 people to attend training. You must pay the travel and living expenses of your employees or managers attending training.
Your business must at all times be under your on-site supervision or under the on-site supervision of a general manager who has completed our training program. If you need to send a new general manager to our training program, we will charge a fee, which is currently $250 per day.
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, the company provides support for hiring and training employees. Crown Gold Exchange will provide franchisees with suggested staffing levels and guidelines for hiring employees, as well as operational instructions in the Brand Standards Manual that can be used as part of training new employees. Crown Gold Exchange also offers an initial training program and on-site support for at least 3-5 days in connection with the business opening, which includes assisting in training employees. However, all hiring decisions and conditions of employment remain the sole responsibility of the franchisee.
The initial training program includes both classroom and on-the-job training. The classroom training covers topics such as an introduction and overview of the industry and business model, operations and management, and marketing and sales. The training program totals 26 hours of classroom training and 56 hours of on-the-job training. Training classes will be scheduled based on the needs of new franchisees and are anticipated to be held in advance of the franchisee's location opening at the corporate office and retail locations in California. Some aspects of training will be self-directed using videos and instructional materials created by Crown Gold Exchange.
Up to two people can attend the initial training program without a fee, but the franchisee is responsible for covering the travel and living expenses of their employees or managers attending training. The franchisee must attend training and complete it to Crown Gold Exchange's satisfaction at least two weeks before opening their business. A test is required to evaluate understanding of the content covered in the training program, and failure to pass the test or complete the initial training may result in termination of the franchise agreement with no refund of the initial franchise fee. The business must be under the on-site supervision of the franchisee or a general manager who has completed the training program. If a new general manager needs to attend the training program, there is a fee of $250 per day.