Written by Guest Author: Peter Casey
So you’ve read the franchisor’s marketing materials, did some more reseacrh, and this opportunity is still looking pretty good to you. Before you finally move forward and join a franchise system, you may want to (or be required to) attend a "Discovery Day." Should you go, and what should you expect?
What is a Discovery Day?
Discovery Days are designed to allow the franchise candidate and franchisor to meet face to face. For the franchise candidate it is a chance to take a good look around the franchisor’s headquarters (or in some cases to get a tour of their retail outlet) and to meet the people who’ll be supporting them should they join the franchise system. For the franchisor a Discovery Day is a chance to meet their potential future franchisee and to show them what a great opportunity that they are offering. Some discovery days are very structured and will have up to 20 candidates in attendance while others will be on a one to one basis.
Discovery Day – In the Eyes of the Franchisor
Discovery Days are also used as a hurdle for franchise candidates to jump over to prove that they are serious about going into to business. If a franchise candidate isn’t willing to commit to a plane ride and overnight stay in another state or in some cases a long drive, they probably aren’t serious about running a business. If a candidate can’t find several hours to meet with a franchisor, how will they ever get their new business off the ground?
What to Expect at the Discovery Day
Franchise candidates shouldn’t expect to discover anything negative at a well planned discovery day, which may be an inherent flaw with this process. If you knew you were having company at your home on a particular day, you’d probably make sure your house was in order and that your guests would see only what you wanted them to see. Franchise seekers should remember that most discovery days are primarily designed to impress the franchise candidate and to allow them to feel better about the franchise system. So as effective as they might be in getting a “feel” for the franchisor, the best resource for franchise candidates are existing franchisees. After attending a discovery day you should still visit other franchisees in your neighborhood or surrounding neighborhoods to get a real feel for the success level of the franchise.
