Should you go to a franchise discovery event? There’s so much information you can find online that this type of event may seem superfluous, a waste of your valuable time. But a well-planned franchise discovery event is a good way to learn more about the opportunity.
4 Goals of a Discovery Event
A discovery event should have multiple objectives:
• Potential franchisees can learn about the brand.
• The franchisor can provide complete information about the opportunity.
• The franchisor can evaluate the franchisee to determine the commitment level and suitability with the franchise.
• The franchisee can talk to other team members.
• The franchisor can see how the team members evaluate the franchisee.
Online Discovery Events vs Face to Face Events
Some discovery events take place online, but the best events are held face-to-face in the corporate offices, at a convention center or even at a franchise. There will probably be a presentation or two, but the real benefit of a discovery event is to become immersed in the franchise opportunity. A good discovery event will let you be exposed to the brand in a way that you can’t get from reading about it or seeing videos online.
Preparing for a Discovery Event
Before you attend a discovery event, you should go through the background and qualification information. Have a list of detailed questions for the franchisor. You should know whether the brand will be a good fit for you before you attend. Before you spend time at a discovery event, you should be serious in your interest.
A discovery event isn’t the time to learn about the brand. It is time to really dig in and see if the relationship will work out. You should have an idea about your financing options before you attend.
Learn more about franchise financing at Skybridge Capital Group when you talk to our financial specialists.