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.
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?
Do's of Discovery Day
Be An Active Participant
To make a great impression, you should actively participate in the conversation, be unafraid to introduce yourself, and ask 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 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 insight into the kind of team you’ll be overseeing.
Don'ts of Discovery Day
Be on Your Phone
We all do it. We’re sitting through a long presentation and feel the urge to look at our phone to check emails or social media. The best way to stop this from happening is to turn off all notifications or simply don’t bring it with you to the presentation. It will be more beneficial for you to be in the moment instead of looking at the screen the whole time.
Be Committed to Invest That Day
While being invited to discovery day is a great sign that you’re serious about franchise ownership, you shouldn’t be pressured into buying into the franchise that day. You may be excited about the opportunity, but don’t let your emotions cloud your judgment and cause you to make a decision too quickly. Sleep on it, look at your notes, and take as long as you need before making your final decision.
Assume Your Trip Will Be Paid for By the Franchisor
The franchisor doesn’t have any obligation to pay your airfare to the discovery event. It is important to plan the trip into your budget and make sure that you can attend. Your presence shows the franchisor and corporate team that you are serious about the opportunity.