What to Expect During Discovery Day
Purchasing a franchise is not an impulsive action. There are numerous steps to the process in order to ensure that the potential franchisee performs their due diligence, and that the opportunity is a good fit for both parties. A key component of this process is the Discovery day. Discovery days are face-to-face meetings between the franchisor and potential franchisee and are often one of the last steps of the investigative process. Though a full agenda of discovery meetings and site visits may seem intimidating to prospects, they can actually be informative and enlightening. Here’s a quick run-down of what can be expected during the process:
Most often, prospects will travel to their discovery day at the expense of the franchisor and they will typically be permitted to bring along their spouse as well. Franchisors understand that joint decisions are necessary and it’s important for the corporate operations team to get to know not only the franchisee, but also their immediate family in order to ensure a productive, long-term relationship. Upon arrival, prospects may expect to be treated to a nice meal once they have settled into their accommodations, so that they may get to know the corporate team a bit better before the full discovery day activities kick off. This is also a great time for the corporate team to begin to evaluate the prospect. After all, a discovery day is a time for both sides to assess the potential relationship.
The following day will bring the majority of the discovery day activities, including a formal tour of the corporate offices and introductions to the key team members that drive the success of the franchise. Individual times to meet with senior leadership and operational staff may also be scheduled throughout the day so that the prospect may understand whom they will be working with through both the startup process and on a long-term basis. A visit to a local franchise outlet may also be expected, so that the prospect can get a glimpse of day-to-day operations and begin to imagine themselves in the role of franchisee. This is a great time for the prospect to ask questions of an existing franchisee and their team members in order to further confirm that the opportunity is what they expect.
Once the meetings and office tours are complete, prospects may expect to have an honest discussion with senior corporate leadership regarding the opportunity and whether or not it is a good fit. Discovery days are typically one of the last parts of the investigative process and it is normal at this stage to be on the cusp of making a final decision on how to proceed, though prospects are by no means expected to finalize their decision on the spot.
Discovery days are a necessary and important part of the franchise purchase process and, as such, should be taken very seriously. When working with an established franchise, such as AtWork, the process can be the final motivation to make the decision to take the leap into business ownership, making it even more important to ask questions and dive deep into the details of the opportunity in order to make the best possible decision.
If you’re interested in learning more about joining the $160 billion staffing industry as an AtWork franchise owner, click HERE or call 888-553-1745 today!