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.