The Discovery Day is a crucial stage in the franchise sales process. After weeks of qualifying a prospect, franchisors have the opportunity to host them on-site. A Discovery Day doubles as both an exploratory visit and a learning day for potential franchisees, where they observe day-to-day operations, meet the leadership team and gain a deeper understanding of what it means to be part of a particular franchise system.
Here are a few recommendations for leveraging the Discovery Day in your franchise sales process:
Boost franchise sales with a well-timed Discovery Day
The biggest mistake franchisors can make is hosting a Discovery Day too soon. Be sure to devote ample time to lead qualification – get to know potential franchisees and ask questions that reveal deeper insights about their capital, motivations, expectations and commitment level. Carefully and honestly evaluate whether or not you can see a prospect contributing positively to your franchise system, and then invite them for a site visit. Discovery Days should not be a daily occurrence, but rather a reserved opportunity for vetted candidates.
Gain tools to ask better questions of your franchise sales prospect
A Discovery Day presents the perfect chance for franchisors to gauge a prospect’s interest level. Do they seem eager to meet the leadership team and engage with the inner-workings of the company? Are they asking thoughtful questions? Schedule some time for executives to sit down with a prospect over lunch and uncover additional objections. Engaging with a potential candidate face-to-face ultimately allows you to make observations and ask better questions as you continue with the franchise sales process.
A Discovery Day does not conclude the franchise sales process
No one should make a decision during a Discovery Day. Rather, this visit allows the potential franchisee to gather information that will help them complete their due diligence. The same applies to franchisors that want to better assess a candidate’s interest level. Both parties must avoid the pressure of decision-making and take advantage of the insights that one-on-one interaction provides.
Franchise sales outsourcing can help you navigate the process
An effective lead generation strategy can work wonders for franchise sales, provided that a franchisor has an equally strategic sales process. As the leading franchise sales outsourcing company, Franchise Dynamics offers world-class solutions for franchise growth. Allow our team of experts to leverage 400 years of franchise experience as we lead prospects through each phase of your sales process, including the Discovery Day. Talk with us today to learn more about our franchise sales services!