Discovery Point Blog
Considering a Child Care Business? What to Expect at Your Discovery Day
If you’re considering opening a child care business and have found a franchise brand you’re interested in working with, you may be given the opportunity to attend a Discovery Day. Discovery Days are a crucial part of the research process for your business endeavor and can provide insights you won’t find through any other means. Discovery Days typically take place after you’ve done some thorough preliminary research, completed an application with the brand, and received their franchise disclosure document.
An invite to a Discovery Day is a good sign that the franchisor is interested in working with you. Franchisors often invite potential franchisees to a Discovery Day once they’ve determined they are a qualified prospect.
If you haven’t yet received an invitation, you can always ask a franchisor about attending a Discovery Day as well. Doing so will be a clear sign of your strong interest and desire to learn more about becoming part of the brand.
Discovery Day is an Important Step When Purchasing a Child Care Business
For a typical Discovery Day, you’ll need to travel to visit the company’s franchise team. Over the course of the day, you’ll gather essential information about the child care business, meet with staff members, tour headquarters and franchise units, and talk with current franchisees.
This is an event that will fill an entire day on your calendar, and possibly a couple of days depending on how far you need to travel. Spouses or partners are generally encouraged to attend these events as well, meaning you should be prepared to coordinate schedules and make timely travel arrangements.
As you discuss the child care business with the corporate team and current franchise owners, you’ll have a chance to ask any questions on your mind and get a feel for the company’s culture. This is a time in which you can get an up-close and personal look at business operations and begin picturing yourself in the role of a business owner under the franchise brand name. Following your Discovery Day, you should have a much clearer idea of whether this is a child care business you’d like to invest in.
Our Tips for Getting the Most Out of Discovery Day
It’s normal to feel a bit nervous and excited prior to a Discovery Day. Even with as much research as you’ve done about the franchise brand, nothing beats meeting the team in person and having any lingering questions answered by franchisees who’ve already been in your shoes.
Below, we’ve listed some tips that can help you set your expectations and prepare for an upcoming Discovery Day.
Tip #1: First impressions on both sides matter.
Just as Discovery Days offer entrepreneurs an excellent opportunity to evaluate potential franchisors, these events also give franchisors the chance to determine which franchisees are the best fit for their brand. As a result, it’s important to avoid approaching this event too casually.
In some senses, a Discovery Day is much closer to a job interview than anything else. It’s thus best to err on the safe side by arriving in business attire, staying mindful during presentations, and showing you’ve done your due diligence through the questions you ask.
Tip #2: Be prepared to give the franchisor more insight into your interest in their brand.
During your time with the brand team, you could be asked to discuss your skills, personality, and personal or professional ambitions in depth. The franchisor may prompt you to connect these details to how you envision your success as a franchisee and the unique experience you believe you could bring to the child care business.
Doing some self-reflection beforehand can ensure you have convincing and eloquent answers to these important questions, which will be used by the franchisor to assess whether you are well-suited to the brand and business model.
Tip #3: Read between the lines as team members interact with you and each other.
You’ll probably meet with team members from different departments, such as operations and training, marketing, or quality assurance. Ask yourself if you can envision working with these individuals on a long-term basis, and pay close attention to how they interact with one another.
Are they professional and respectful? Do they look like they enjoy what they do? As these team members will play a huge role in helping get your business up and running, you can save yourself a significant headache simply by being perceptive at Discovery Day.
Would you like to hear more about becoming a franchisee with a successful child care business? We encourage you to reach out to the team at Discovery Point today by calling 770-623-1140 for details about our 10 steps to franchise ownership.