How to Prepare for a Franchise Discovery Day: 8 Discovery Day Do’s and Don’ts
In the world of franchising, Discovery Day holds a significant place, offering potential franchisees an in-depth view of the franchisor's operations and what it truly means to be a part of their brand. Check out our Franchise Discovery Day Do's and Don'ts list, so you know what to expect, how to prepare, and what questions to ask a franchisor at the big event.
What to Expect on Franchise Discovery Day
A Discovery Day is not just a mere formality but an opportunity for the franchisee candidate to genuinely understand the franchisor's business model, values, culture, and expectations—and a chance for the franchisor to determine if the candidate is a good fit for the brand. While actual events may vary according to brand, the day typically includes:
- Facility tour: The franchisee candidate will be given a tour of the headquarters or a representative facility. This offers an insight into how the business operates behind the scenes and the level of organization and professionalism that's maintained.
- Meetings with key personnel: From top-level executives to the support staff, the potential franchisee will interact with various departments to grasp the breadth and depth of the business.
- Product/service overview: Depending on the type of franchise, there may be demos of products or a deeper dive into the services offered. This is a chance to understand the unique selling proposition of the franchise.
- Culture and values presentation: Every franchise has its ethos, and this session aims to introduce the franchisee candidate to the core beliefs, values, and culture of the business.
Preparing for the Franchise Discovery Day
Preparation for this event is paramount. Here are some steps potential franchisees can take to prepare for Discovery Day:
Research thoroughly: Before attending, it's advisable to have a good grasp of the franchisor's business model, history, and competitors. This not only shows initiative but also helps in asking insightful questions.
Know your finances: Be clear about your financial position and understand the investment required for the franchise. This will assist in having productive conversations around funding and financial expectations.
Prepare questions: There will be a set agenda, however, it's essential to have a list of questions to ask the franchisor that can help you clarify any doubts or concerns. This also demonstrates engagement and genuine interest. The questions should include information about costs to open and on-going costs, anticipated earnings, timeline to opening, staffing, growth rates and marketing to the target demographic.
Professional attire: First impressions count. Dressing professionally not only reflects your seriousness about the opportunity but also shows respect towards the franchisor's time and the importance of the day.
8 Do's and Don'ts for Discovery Day
Navigating Discovery Day can be a challenge, especially for first-time franchisees. Here's a list of do's and don'ts to guide you:
- Be punctual: Arriving on time shows professionalism and respect. It also ensures you don't miss any part of the day's schedule.
- Engage actively: Whether it's during a presentation or a facility tour, active participation indicates enthusiasm and commitment and makes you memorable.
- Take notes: It's a day packed with information. Taking notes helps with retaining critical points and reflecting on them later.
- Think it over: No need to feel rushed into a decision about signing an agreement or writing out a check right away. Once Discovery Day is over, process all the research and information before committing.
- Avoid dominating conversations: While it's essential to engage, ensure you're not monopolizing discussions or preventing others from asking questions.
- Don't be overconfident: It's great to have a strong business background but approach the day with humility. There's always something new to learn.
- Avoid negative talk: Refrain from negative remarks about competitors or drawing unnecessary comparisons. This could reflect poorly on your professionalism.
- Don't hesitate: If something is unclear, seek clarity. It's better to address doubts on the spot rather than having lingering questions later.
Discovery Day at MassageLuXe
During your discovery visit at MassageLuXe, you'll visit our corporate headquarters to see our programs and systems in action. This gives you the opportunity to interact with our corporate executives and team members, reviewing key departments and meeting leaders who will support your growth in the MassageLuXe franchise system. The process is a critical starting point to the relationship so we take the time to make sure we get to know one another.
We are always looking for entrepreneurs who are driven to provide the highest level of service in our growing wellness franchise. If you’re ready to take the next step and learn more about the benefits of owning a MassageLuXe spa, request franchise information. We’ll get in touch with you soon.