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You’ll usually be invited to a discovery day once you’ve enquired about a franchise opportunity. This is your chance to view the business at much closer inspection and determine whether it really is the right brand for you. However, it’s also a chance for franchisors to gain their first proper glimpse of you, so making a good first impression is vital. By | MOLLY RAYCRAFT Discovery days 101 RELEASE YOUR INNER CRITIC Franchisors will provide you with as much information as possible to help you make your decision. However, it’s important to remember that discovery days are well- rehearsed routines. These franchises have a vested interested in putting their best foot forward (as do you). So, don’t be afraid to ask about the negatives. For instance, have any franchisees failed and if so, what was the reason? How has the turbulent economy affected the business’ revenue? It’s vital you leave no stone unturned before making such a huge investment. YOU’RE GOING TO BE JUDGED While you may be assessing the brand’s viability, a franchisor will be assessing you as a franchise partner. Dress appropriately and arrive on time for the discovery day to demonstrate that this is a priority to you. Some franchises also encourage you to bring your family to the day, so they can understand the change in lifestyle that your investment may involve. Extra kudos for those showing enthusiasm, asking lots of questions, and taking rigorous notes. THE DEBRIEF Look over your notes from the discovery day with fresh eyes, and pinpoint anything you’re not sure about, want more information on, or doesn’t match your criteria. Franchises sometimes provide a list of franchisees who you can contact to learn more about their experiences since investing, so follow these ups. Also, make plans to attend discovery days with other brands, including competitors – comparison is crucial in ensuring you’ve made the right decision. PREPARE IN ADVANCE Get an understanding of what the discovery day is going to entail before visiting. Usually, the day will be held at the franchise’s head office – either in a group setting or one-on-one. The itinerary will centre around educating you about the brand, the franchise opportunity, and providing a space for you to ask questions. Read through the franchise brochure before attending and jot down the questions you’d like answered. Also, notarise your business criteria and goals. For example, you may be looking for a business that allows a management role and would like to achieve ROI within 12 months. This enables you to attend the discovery day with a clear vision of what you’re searching for. 37 WHAT-FRANCHISE.COM Ins ights