How a Franchise Agreement and a Franchise Disclosure Document differ
There are two documents that are of vital importance...
A discovery day with a Canadian franchisor is a great way to get more information, make connections and decide with confidence whether you want to join a particular brand. As you head to your discovery day, here is what to do to make the most out of the experience.
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Connect with the "help desk" team, if applicable
If your franchisor offers direct support via the back office or a help desk, now is the time to meet and form relationships with those team members. Not only do these employees have a lot of information regarding the system and operations, they are also who you may have to rely on when you have a problem or need advice about a challenge or obstacle. You should also evaluate the responsiveness and approach of this team as this could give you an idea of what to expect once you're up and running.
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Network with your fellow franchisees
During discovery day, meet and spark new relationships with other franchisees in your system. Find out if there are any monthly or regular meetings of all the franchisees to brainstorm and discuss ideas and challenges. If so, be sure to get information about how to join. If no such groups exist, lay the groundwork to form one. You can learn a lot about a franchise and its system by talking with experienced franchisees, and connecting with franchisees both old and new will give you an immediate support network when you first start out.
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Spend real time with the brand's leadership
Discovery days often take place around or in the brand's corporate headquarters. This means you can likely ask for a corporate franchise meeting if you still have questions after the discovery day ends. Don't leave the experience with unanswered questions and assume an email later will suffice. You should stay until all of your important questions are answered, even if this means staying a day beyond the session for meetings with people in their corporate offices.
Keep in mind that joining a franchise is a major commitment, so there are no "stupid" questions. If you feel as if the franchisor is evading your questions or not being clear in their answers, it may be time to seriously consider another brand instead. The franchisor should also be willing to make time to answer all of your questions. After all, you cannot succeed unless you are completely informed and confident in what you are doing as a franchisee.
