After reviewing all of the written documentation that’s been shared….
After all the validation phone calls with current franchisees…..
After watching the franchisor’s educational videos on their business model…..
After building your pro forma financial model to project if the franchise has the potential to meet or exceed your financial goals…….
There will come a time when the franchisor is likely to invite you to their corporate headquarters for what is commonly referred to as DISCOVERY DAY (or D-Day) in the franchise world.
So what is Discovery Day? The opportunity to spend time face-to-face (often a full day or more) with the leadership team and support teams of your potential franchise partner (the Franchisor) is invaluable, and most franchise concepts have shifted back to in-person, on-site D-Day formats.
If you’re attending a D-Day, you’re likely in the final stages of deciding if this franchise is the one for you, and the franchisor is also nearing their decision on whether they desire to award you a territory. This visit is a two-way street of decision making. It’s also a great opportunity to validate the culture, so you can confirm if the culture fit is right for you.
How should candidates approach a Discovery Day?
It is perfectly normal to be experiencing excitement and nervousness – it’s natural as your decision is getting very real;
Franchisors will not be expecting you to make a Go/No Go decision while on-site;
Be clear about your attraction to this particular franchise, and be prepared to articulate your “why” for this specific business model;
Have your burning questions organized ahead of time and ready (specifically any topics that remain between you and your finish line);
Compare notes with other candidates like you that are being hosted on the same trip – great learnings can come from their questions and their research experience;
Ask for a sidebar conversation if there’s something you wish to discuss that you’d rather be handled privately away from the other participants;
My candidates have shared with me that the Discovery Day has very often been the step in the evaluation process that has helped them to crystalize their vision of themselves actually in this business. Meeting the team and hearing how the franchisor’s support resources are going to help them to put the business system to work in the territory they are considering makes it all very real.