What should I expect from a franchisor ‘discovery day’?

Author: John Pratt

answered by John Pratt

Senior Partner at Hamilton Pratt

The purpose of a discovery day is twofold. First, to give you as much information as possible concerning the franchise opportunity. Bear in mind that the franchisor is trying to sell the franchise, so you do need to treat what you are being told with suspicion and check it out.

The best way of doing that is to obtain a list of the franchisor’s franchisees - not just the ones the franchisor wants you to talk to - and ask them how good is the support from the franchisor, how much money do they make, will they renew, etc. 

The second purpose of a discovery day is for the franchisor to find out more about you and establish whether you would be a suitable franchisee. That doesn’t mean you should be on your best behaviour, but it does mean that if you’re offered a glass of wine or a beer at lunchtime that you don’t have too many and start behaving badly.

You should remember the golden rule in picking a franchise, which is never to hold back in asking whatever questions are troubling you.

John Pratt is senior partner at specialist franchise firm Hamilton Pratt and has advised franchisors for over 25 years.

Want to be your own boss? Start today!

  • Relooking

    Relooking is a beauty franchise, offering a variety of skin care and anti-aging treatments... find out more

    £18,000 Minimum Investment
  • Sweets and Treats Vending

    Sweets and Treats Vending is a confectionery distribution franchise company... find out more

    £9,950 Minimum Investment
  • SuperGreen Solutions

    SuperGreen Solutions is an advisor, supplier, and installer of energy-efficient solutions to… find out more

    £178,000 Minimum Investment
  • Wikane

    Wikane is a business development franchise, specialising in working with SMEs to help them… find out more

    £38,000 Minimum Investment

You have pending

More from our business portfolio

  • Global Franchise