The franchise process is straightforward. In a nutshell, you and your potential franchisor share information and decide whether you’re a good fit for one another. Near the end of the process, you’ll have the opportunity to participate in a franchise discovery day: an event that marks the close of the process and, ideally, the start of your franchise launch.

Here’s what you should know about discovery day and your path to franchise ownership.

What is Discovery Day?

Discovery day is a standard part of the franchise process. Some brands refer to it by another name, like “meet the team” day. Although virtual discovery days gained popularity during the pandemic, franchisors have largely returned to an in-person format. They usually take place over a single day, but may be split into two.

Franchise discovery days often include:

• Face-to-face time with the franchisor’s franchising and leadership teams
• Slideshow presentations about the brand’s place in the market, systems, and processes
• Tours of brand headquarters and/or existing locations

While you may attend a discovery day that’s just for you and any other members of your ownership group, it’s more likely that you will be invited to join a larger group of potential franchisees for this event.

Discovery day is typically the last decision point before a franchise agreement is awarded. Your potential franchisor will use what they’ve learned about you during franchise day to make a final determination on your franchise application. Likewise, this immersion in your potential franchisor’s brand culture should give you a good idea of whether you’re a good fit for one another.

How Do I Prepare?

By the time you’re invited to attend a franchise discovery day, you will have collected a lot of information about your potential franchisor. To prepare, you’ll want to review:

• Materials you’ve received, including the franchise disclosure document (FDD) and franchise agreement
• Notes you took during earlier meetings with the franchisor
• Relevant financial statements

Be sure to come with plenty of questions! Discovery day is your best opportunity to share any questions and concerns with the franchisor’s home office team. Signing a franchise agreement is a serious commitment, and you want to make that decision confidently.

Next Steps in the Franchise Launch Process

If you and your franchisor agree to move forward after discovery day, congratulations! You’re now a member of their franchise system. The first step will be to sign and execute your franchise agreement. Once that’s settled, you’ll move onto the work of getting your franchise ready to open.

Training

All franchisors provide some degree of training. It’s often a mix of self-guided virtual learning and hands-on instruction at the brand’s headquarters.

Although the exact training you receive depends on the kind of role your franchisor expects you to play, you can expect to learn about:

• The franchisor’s mission, vision, values, and brand culture
• Administration
• Management and leadership
• Staffing
• Marketing
• Operations
• Proprietary systems and technologies

Some brands require their franchise owners to participate in day-to-day operations. Rest assured that your franchisor will provide thorough training for any services you’re expected to provide.

Site Selection

Although some franchisors may have you start the process earlier, you can usually expect to begin the site selection process once you’ve completed training. Your franchisor has already done thorough market research to be sure that your territory can support their brand. They may already have locations in mind.

If your franchisor requires you to have a brick-and-mortar location, their real estate team will provide you with some level of assistance in finding the right site. You’ll also receive their guidance during the build-out process. This can include:

• Layouts
• Interior design
• Purchasing equipment

Keep in mind that some franchises, including many of the brands in the Home Franchise Concepts system, do not need a brick-and-mortar location. That means you have one less thing to worry about!

Getting Ready to Open

The period before your location opens is the busiest of all. During this time, you’ll be hiring and training your team, setting up IT systems and equipment, and obtaining any needed permits or licenses. Your franchise advisors will provide you with any assistance you need to make this process run smoothly.

Your Grand Opening

Your franchisor is committed to your success from day one. To get your business started on the right foot, some franchisors  will have advisors and other members of the front office team onsite for a few days before and after opening as a way to ensure you and your team are ready for your grand opening, as well as to help with any first-day issues that may arise.

One of the hardest things for most new businesses is getting the word out. Fortunately, that’s where franchising can come in handy! Franchise marketing support continues throughout the life of your business and helps you meet potential customers where they are. Your franchisor will share plans and strategies that you can apply to your local market, creating a steady pipeline of business.

Home Franchise Concepts Makes the Process Simple

From discovery day to your grand opening, Home Franchise Concepts knows what new franchise owners need to confidently start their business. We’re by your side every step of the way, providing you with the tools and resources you need to thrive.

Experience our stress-free franchise process for yourself! Submit a franchise inquiry form to get started.