Making the decision to buy a franchise involves numerous considerations, including financial, legal, personal and the entrepreneur’s business goals. The decision may also be influenced by the type of training resources that are available to help a franchisee get started, which vary by franchise system.
In addition to what’s involved with any franchise business opportunity, let’s take a step back and explore some of the skills needed to become a business owner.
What Skills Do I Need to Own a Business?
Becoming a business owner requires time and dedication, in addition to a unique set of skills. While some entrepreneurs may already possess these naturally, most can be learned and shaped through experience and the right training resources.
Customer Service
Taking care of your customers should be your top priority as a business owner. Providing an excellent customer experience creates loyalty and trust, building a solid foundation on which to build the future of your business.
Communication
Great communication skills help you in all aspects of life, but they’re particularly useful in a business setting, especially for the business owner. The owner needs to be able to communicate clearly and efficiently with customers, team members, other businesses and vendors to build strong relationships and avoid any confusion or errors throughout the course of operations.
Management
Entrepreneurs must also possess strong management skills. As a business owner, you will guide your team through day-to-day operations, ensuring compliance with brand standards and operational guidelines. You’ll be responsible for delegating tasks to your team, resource planning, handing customer or employee issues and keeping the business running smoothly by focusing on goals and structure.
Leadership
Beyond basic management skills, business owners can set themselves apart through leadership skills. Referring to an individual’s ability to motivate and influence their team to do their best, as well as enable others to contribute to business performance, leadership skills reflect a degree of inspiration and influence, as opposed to management skills which are more controlled and authoritative. Leadership brings the team together to comprehend and believe in a shared company vision.
Financial
When you become a business owner, you want it to be a financially successful endeavor. After all, if your business isn’t financially sound, it won’t be able to sustain itself for a long period of time. Having a solid foundation of financial practices, the ability to budget effectively, reporting on your financial performance and identifying factors that affect your profitability are key aspects of business ownership.
Marketing
Marketing your business is a crucial part of growth. No matter what type of business you open, you’ll need to build your customer base through marketing. Getting the word out about current offerings, educating the public about how your business can help your community, hiring new team members and promoting special offers can all be improved through marketing efforts. If your product or service isn’t well known, you also have the challenge of educating your prospective customers and becoming part of their consideration set.
Networking
Networking is a useful skill for business owners both before opening the business as well as throughout the course of operations. Initially, networking can help a prospective owner find the right investors and build relationships with individuals and organizations that can help your business succeed. After the business is up and running, networking can create a better reputation for your brand, fund ongoing improvements, increase visibility, build a strong support network through lasting customer relationships and connections with other franchisees and small business owners.
Technology
Staying on top of the latest technology can be difficult, but it can also help your business greatly. Access to and knowledge of helpful technology to aid in payroll, social media, data management, marketing and other operational tasks will certainly make your life easier as a business owner.
What Training Resources are Available to New Franchisees of The UPS Store?
Become a business owner requires a well-rounded set of skills, but certain franchise brands have helpful training resources available to assist new franchisees on their journey to ownership. While it’s great to already possess the qualities mentioned above, support and training can make a world of difference in the growth of your business.
The comprehensive training program offered to franchisees of The UPS Store is designed to equip new retail owners with the necessary skills, knowledge and information to help get them started. Training resources empower franchisees to hire and train their own staff confidently and effectively, setting the foundation for the store opening and beginning of operations.
Over 200 hours of web-based training, in-store training and University course study are included in our thorough four-phase training program.
- Phase 1: Web-Based Training (40-45 hours) – Consists of over 45 trainings to provide a strong foundation of store operations and business acumen
- Phase 2: In-Store Experience 1 (45 hours) – A five-day training in a The UPS Store Certified Training Center (locations vary) that is focused on store operations, technical systems and business acumen
- Phase 3: University Business Course and Print Services Training (90 hours) – A ten-day workshop held at The UPS Store University in San Diego, CA that includes marketing, operations, sales and financial management skills, as well as equipment, software, techniques and in-center production
- Phase 4: In-Store Experience 2 (40-45 hours) – A five-day training in a The UPS Store Certified Training Center (locations vary) that is focused on reviewing store operations, technical systems and print services
Print Services
As a retail owner of a The UPS Store location, you’ll be supporting small business owners in your community. Our locations offer many small business services like printing business cards, letterhead, posters, flyers, direct mail postcards and much more. You’ll learn all about the print services, direct mail services, mailbox services, packing and everything else you’ll need to run your own The UPS Store.
Business Acumen
The UPS Store is committed to ensuring that new franchisees are prepared and have the resources they need to grow their own locations. Franchisee training also focuses on developing the business management, technical, conceptual and diagnostic skills that are the basis for regular operations. In addition to this university-style training, franchisees have access to a vast network of other retail owners to ask questions, collaborate, solve challenges and share success stories.
Additional Support from The UPS Store
With over 40 years of experience in helping franchisees acquire and implement the tools they need to serve their customers and communities, The UPS Store franchise team is available to help with the challenges that arise. Our corporate office is also committed to increasing brand awareness across the country through advertising and marketing efforts. Millions of dollars in national advertisements and marketing campaigns including television, digital, print and radio help strengthen our brand, and regional and local advertising campaigns help communities get to know their local franchises. Retail owners also have access to internal marketing support including templates, materials and other tools to help promote their store.
If you’re looking to make a difference in your community and your life, explore franchising opportunities with The UPS Store by contacting our franchise development team. Discuss the possibility of owning your own retail location and becoming a valuable part of The UPS Store network.
