6–8 weeks · 7 milestones · Mutual vetting
The Discovery Process refers to all of the steps that you will take while vetting the franchisors that we have selected for you. This journey can take six to eight weeks and will entail a dozen or more steps before we ever get to the end.
Every franchise will take a slightly different path, but they will ultimately include similar steps.
The first call with a franchise tends to be a little bit of just getting to know one another. Some franchises will jump right into presenting their brand.
There are usually several calls just to learn all of the aspects of the business model. Things like:
And then an overview of all of the support mechanisms that the franchise has for you.
You’ll also get into the FDD, or the Franchise Disclosure Document. At some point during the Discovery Process, every franchise will provide you with the FDD.
Validation calls — this is the term that is given to the portion of the process when you will get to speak with existing owners of that franchise.
This is usually somewhere in the middle of that six to eight weeks, but again, every franchise will take a slightly different path. So this may be a little sooner, it may be a little bit later.
Learn more about validation calls →
Meet the Team Day — or Discovery Day — is designed to be the last step in the process. Most of the time Meet the Team Day is in person, but there are times it is virtual.
Meet the Team Day is a day-long event at the franchise headquarters where you will meet their entire team. You’ll learn some of the new things about the franchise, but more importantly, you’re going to get a chance to meet all of the people who are there to help support you as an owner.
Learn more about Meet the Team Day →
Every franchise handles the end of this journey a little differently, but there will be a phone call or a meeting in person where the franchise gives you the verdict on if you have been awarded a franchise.
When you are done with Meet the Team Day, it will be crystal clear that you have either found the right match, or we need to go back to the drawing board to find something new.
But remember — franchises are awarded. The entire Discovery Process is mutual.
You are vetting the franchise with the help of our team at FranCoach, but the franchisors are also vetting you.
And then the last thing is signing the franchise agreement. Congratulations — at this point, you are an owner.
Runs alongside the process
Also, during the Discovery Process, it’s important to remember: we will connect you with our funding partners so you can learn about the different funding options to ultimately determine which is your best method.
Learn more about funding options →
That is the Discovery Process.
Stephen, Arizona“You have nothing to lose by having a conversation with FranCoach. Worst-case scenario, you discover you don’t want to touch this with a ten-foot pole. But best case, you figure out, hey this might be something for me and there are some possibilities here.”
Geoff, Pennsylvania“I remember when I first started exploring the idea of franchises and I found the Franchising 101 Podcast. I just got hooked. There were such good snippets of information and I started eating through them and listening to them all the time.”
Ryan, Alabama“The conversation we had, just on that first call, when you said, ‘Tell more about Ryan, what flips your switch, what gets you out of bed in the morning’… it was really important to me to know those things upfront.”
George, Pennsylvania“One of the lessons that I learned very quickly was to focus on what is driving you as an individual. What makes you get up, and what do you want to get up and do every day?”
Michael, Indiana“If you have questions, if you want answers, or if you’re not sure if it’s for you – there’s no reason not to reach out to FranCoach.”
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