The ABCs of Franchise Discovery Days: What To Expect

During the franchise development process, Discovery Day is a time for franchisees to learn more about the brand they are prospective buyers of. Here, franchisees can “discover” information they might not have found yet and get more questions answered by the franchise’s leadership team. 

Franchisees are usually brought to corporate headquarters and encouraged to bring their family members along. The day consists of interactions with key players and education on the ins and outs of the brand. During this time, the franchisor will try to prove that it is the best option for attendees to invest in.

 Austin James, director of franchise development at Buzz Franchise Brands, calls Discovery Days a “two-way interview” between the franchise brand and franchisees. He said that, much like a job interview, these events are an opportunity for someone to find out if a brand is a good fit for them and likewise for the brand. 

“After our Meet the Team days, we speak to every single person on our side that the candidate met with and get feedback about that individual,” he said. 

With that said, here are the ABCs and DEFs of franchise Discovery Days. 

A: An Introduction to the Brand

Franchise Discovery Days typically begin with an introduction to the brand's history, mission and core values. Franchise representatives and key members of the team will provide insights into the journey that led to its current success and its place in the market.

B: Behind-the-Scenes Operations

One of the highlights of the Discovery Day is the chance for an exclusive peek behind the curtain into the franchise’s operations. For example, this could include visiting an operating franchise location, touring the headquarters and witnessing how the business runs on a day-to-day basis. 

C: Connecting with Key Players

Discovery Day is an opportunity to meet and interact with important players in the franchise organization. This can include senior executives, operational staff and other franchisees. Prospective franchisees can ask these individuals questions and gain insight they might not have had otherwise. It is also a chance to build key relationships before starting operations. 

D: Detailed Financial Insights

While financial aspects are often discussed during earlier stages of the franchising process, Discovery Day allows prospective franchisees to go deeper into the financials. Franchise representatives will walk through the investment costs, ongoing fees and potential revenue streams. 

E: Engaging Training and Support Discussions

Franchisees can expect to learn about the training programs offered by the franchisor and what that looks like for both initial onboarding and on an ongoing basis. This is an important part of the event because franchisees can really understand how the franchise will equip them with the tools for success. 

F: Franchisee Success Stories

Franchisee panels and success story presentations provide insight into the experiences of those who have already gone through the franchising process with the brand. These firsthand accounts can provide valuable insights into the challenges, rewards and what the day-to-day reality of operating a franchise looks like. 

Franchise Discovery Day is an essential step in the franchising process. From understanding the brand's history to meeting key players and learning about financials and training, this important event will provide franchisees with enough information to make the all-important decision in their entrepreneurial journey.