The term “Discovery Day” can be a bit misleading. While there is certainly an element of discovery in a prospective franchisee visiting your company and meeting stakeholders for the first time, Discovery Day is meant more to be the final step toward signing an agreement. You should go into it expecting to conclude with something along the lines of, “I’ll be sending out the final agreement tomorrow. We can then coordinate a signing time and begin the onboarding process.”

Think you’ve found a qualified and serious franchisee? Fantastic. The next step is to host a Discovery Day, where you will give this person an inside glimpse at running a franchise of your company and, ideally, conclude the day with a verbal confirmation that you will send them a final agreement to sign and become a franchise owner.

Did you ever play board games as a kid with a friend who made up the rules? It can be extremely frustrating to finally start making traction only to have the rules change half way through.

Every year that goes by, the world seems to get smaller. For anyone in the business realm, expanding out of your area can be as simple as hopping online or creating a website. When that expansion tempts franchises in the states, it’s not as simple as adding a new tab to the website.