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How do I prepare for Discovery Day? Learn how in this guide with expert-backed tips on evaluating the brand, asking the right questions and ensuring the franchise opportunity aligns with your goals.
How do I prepare for Discovery Day? The short answer? Understand the brand, properly assess your “why” and arrive ready for an honest, proactive conversation. Discovery Day often functions as the moment when both sides of the equation decide whether the partnership opportunity is properly aligned, rendering the idea of strong preparation critical for serious candidates.
According to Melting Pot Franchise Growth Strategist Collin Benyo, the experience is about a lot more than simply rehashing training or operations, giving prospective franchise owners a chance to evaluate authenticity.
“A big step is truly meeting the leadership team. These are the men and women who will be making decisions for all locations and the direction of the brand,” said Benyo. “Don’t try too hard. Just have a true, genuine discussion about yourself and why you’re here.”
So, how do I prepare for Discovery Day? Here are five areas that can help prospective franchisees ensure the opportunity is properly aligned between both parties.
1. Know The Brand (And Your Motivation)
Benyo says passion is essential. “You have to love the business. There’s no real reason to get into business unless there’s a passion and fire behind you.”
2. Talk To Franchisees
“Get in contact with franchisees,” Benyo said. “Talk to someone specific within the state or similar backgrounds and understand the business opportunity and whether or not it will work.”
3. Review The FDD And Leadership Vision
Understanding the Franchise Disclosure Document (FDD) is one piece of the puzzle. But the other requires looking ahead. “Why am I joining a 50-year legacy brand?” Benyo said. “What does that look like in the future? How do we approach social media, third-party delivery… all these things changing the landscape?”
4. Be Ready To Ask Tough Questions
Discovery Day shouldn’t be a passive experience. Benyo encourages potential franchise owners to press for clarity in as active a way as possible “Ask great questions. Make the franchisor say, ‘Here’s the truth of what you’re asking about.’”
5. Be Honest About Timing And Capacity
Sometimes, the timing simply isn’t right. It’s important to assess it early and honestly to avoid a potentially costly mistake later.
So, how do I prepare for Discovery Day? Approaching it with genuine curiosity can pay dividends. A clear understanding of goals, and their alignment, and a willingness to openly and actively engage with the franchisor team, will take the prospective franchisee far. Strong prep can help deliver an honest dialogue, ensuring zees leave Discovery Day confident in the partnership and its fit.
Want to learn more about franchise opportunities on 1851 Franchise? Be sure to visit our Power Rankings to read more on brands making moves.
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