Follow These Franchise Discovery Day Tips to Help Make Your Final Decision
Getting an invitation to franchise discovery day is very exciting. In the eyes of the franchisor, you are a serious candidate who is almost ready to make the life-changing leap into franchise ownership. There are ways to make the most of franchise discovery day. For example, it is crucial to come prepared with questions for the franchisor, which is an important part of the franchise discovery day agenda.
With these questions, you will be able to tie up loose ends and get the remaining information you need to know before deciding if the franchise is a good fit for you. But what are the other do’s and don’ts of discovery day? Here’s how to prepare for discovery day when buying a franchise.
Do's of Franchise Discovery Day
Be An Active Participant
To make a great impression at franchise discovery day, you should actively participate in the conversation and be unafraid of introducing yourself and asking questions. Some questions include: How will the franchise support and train me? What is your relationship with the franchise owners like? Are there financing options available?
This is also your opportunity to tell the franchisor’s corporate team about yourself and why you want to invest in the brand. You should also network with the other franchise owners who are present. A great opportunity to do this is during the lunch or break portion of the day. You may have things in common with them and can talk to them freely about the company. It will benefit you to make yourself memorable to the franchisor and corporate team and not just be a passive onlooker at the presentation.
Take Extensive Notes
While the franchisor may send you a redacted version of the presentation after the event is over, you should take as many notes as you find necessary to help you get the most out of it. You don’t want to forget any important information. It will also benefit you to look over the notes that you took and consider the parts of the day that you enjoyed and didn’t enjoy. This will help you finalize your decision.
Ask the Franchisor for a Tour
During a franchise discovery day, the franchisor will likely take you on a tour of the corporate headquarters and one of the franchise’s operating units. Take the time to see how the employees look while they’re working. Do they look excited to be there? This will give you some insight into the kind of team you’ll be overseeing.