Franchise Discovery Day: Who Should Pay The Costs?

Franchise Discovery Day: Who Should Pay The Costs?

Franchise Discovery Days (FDD) are events where a lot of information is shared and prospective franchisees meet franchisors face-to-face for discussions on franchises. That said, there are certain costs that are incurred by both franchisors and potential franchisees, to make the event successful. Pricing policies fall into these 4 categories.

 

1. Franchisors pay for everything

These are some franchisors that will pay for everything. These franchisors believe in attracting crowds even if they know that not everyone will buy the franchises. They take care of all the costs, so that more and more people will attend the events and even if he has no interest in buying a franchise, may change his mind at the last minute.

 

2. Franchisors don’t pay anything at all

Some franchisors aren’t interested in investing their time, staff and money in potential franchisees. They believe that if the person is interested in buying a franchise, then he/she will attend a Discovery Day by paying a small fee. A small fee, according to such franchisors, is not a big amount, and will attract only serious people. Plus, people who are willing to invest in a franchise will not look to be reimbursed for whatever they have spent.

 

3. Split the expenses

There are some franchisors that need the franchisees to pay something, like an airline ticket. The franchisors bear some expenses, such as food or hotel transports/airport transports. The franchisor believes that this approach serves both the purposes – of the franchisor hosting his event, and the franchisee investing in himself.

 

4. Expenses reimbursed if the franchise is bought

Some franchisors are ready to reimburse the entire expenses if the prospective franchisee buys the franchise. Others who have not decided to buy the franchise have to foot their own bill.

 

 

Who pays the costs depends on what role you are willing to play. As someone who is used to being reimbursed, you might not appreciate spending for an event. Franchisors call that the “employee mindset.” Businessmen, on the other hand, are willing to take risks and do not mind if they have to shell out money from their own pockets. Who you are depends on what role you want to play.

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Franchise Discovery helped us set up our waffle franchise, from start to finish. We didn't have to run about for licenses, and all the paperwork was taken care of. We are now running the business happily. Thank you Franchise Discovery.

Vijay

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When we first came to Franchise Discovery, we didn't have much idea about starting a business. My wife and I are both from the service industry, but we wanted to get into business so that we could stop the 9 to 5 routine. We were helped beyond our imagination, and hope to start more businesses in the future.

Ranjan Singh

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Franchise Discovery made it easy for us to find investors for the business. It really helps when you have contacts in the marketplace, and we're happy to associate ourselves with Franchise Discovery.

Shrenik Shah

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Being in the franchise business for long we have come across many people. We have found Franchise Discovery to match us with the right investors according to their needs. This helps us as well as the investors, many of who are investing for the first time.

Ankit Shah

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I thank everyone at Franchise Discovery for the smooth functioning of starting our set up. We were skeptical at how to run a fast food business, but we got all the help and expertise we needed and couldn't be more relieved. We are now thinking of taking up another franchise of desserts this time. Hope things go well again.

Mohan