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Advice for your franchise discovery day

Advice for your franchise discovery day

Franchise Discovery Days are great because they reveal a vast source of information which you may have not got elsewhere. But before you attend one, let the business owner know what you’re looking for on the day of your visit.

Hold nothing back. Ask them questions or concerns you have. Buying a franchise is a big deal. So make a well informed choice. When you go to a Discovery Day, ask yourself these questions.

  • Do I like these people?
  • Do I look forward to working with these people?
  • Will I fit into this club?
  • Are we on the same page?

 

A Discovery Day is an event where franchisors and franchisees are matched. And that’s exactly what happens when you and the franchisor start sizing each other up to see if the match happens. Expect the franchisor to ask you about your commitment to the franchise and how soon you can buy. The franchisor is looking for someone who is excited about their brand, who are confident, and who are adept at making business.

Be sure of your decision. If you think the franchise is not a good fit for you, say it to avoid wasting any more time. But if you think you need more time, say that too. But don’t leave them stranded. It’s better to say a ‘yes’ or a ‘no’. Take no more than 48 hours before you get in touch with the franchisor and let him know where you stand on the franchise.

As the Discovery Day is over, go over your notes and conversations you’ve had and guage what kind of feeling you are getting out of it. Are you feeling excited? Are you feeling confident? Do you see yourself immersing into this business? Are you feeling overwhelmed?

It’s normal to get a mix of feelings when you’re starting something big. But discuss this with your spouse/partner and figure out what you want from this franchise. Sometimes, the ones closest to you can read you best.

Whatever the outcome, don’t beat yourself over it if you feel anxious or nervous. These feelings are normal, especially when you’re getting into something this big. Franchise Discovery Days will only show you so much. The rest is up to you.

 

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