Does the thought of opening your own franchise business excite you?
If yes, then you’ve come to the right place!
And as you’ve clicked on this page, we’re going to guess you’re already on your way and wondering what you should expect in the franchise discovery process.
While this process can be fun, exciting and insightful, it can also be challenging if you’ve never gone through it.
Fortunately, we’re experts at this and can walk you through it so you can breeze through the steps with ease.
This article will explain what a general franchise discovery process looks like and also give an example of Nurse Next Door’s step-by-step process.
Let’s read on!
How Do I Start My Franchise Business Search?
Once you’ve decided that the franchise model is for you, you’ll likely be eager to start researching which company you should join.
Maybe you’re browsing a franchise directory site and come across a franchise that pique’s your interest, so you decide to reach out.
Well, just like that, you’ve started the franchise discovery process.
The main purpose is to allow ample time for the prospective franchisee, yourself, and the franchisor to get to know each other and determine if the partnership will be the right fit.
You’ll gain knowledge of almost every aspect of the company’s background through a collaborative two to three month process of discovery.
A franchise development representative will lead the process, with each company putting their own unique spin on it.
Even though there is no hard and fast rule, generally speaking, each company’s franchise discovery process will entail some form of the following steps:
Step 1: Overview of the franchise brand.
Once a company piques your interest, you can submit a request for high-level information to conduct a brand review.
Mostly, this will be videos, reading material and possibly a call from a franchise development representative who will introduce the brand and ask about you and your goals.
Step 2: Join a discovery call.
If you like what you see and hear after you review the brand material, you’ll then have the opportunity to sign up for a deep-dive discovery call.
During this call, you’ll have the chance to ask in-depth questions, raise initial concerns, learn the company’s unique value proposition and learn more if the company will meet your personal and professional needs.
Step 3: Attend the first interview.
After the discovery call, and if you fit the criteria, you’ll be invited to a first interview. The first interview will run like any typical interview process where the franchise management team get to know you in more depth.
Step 4: An insider look into the systems and processes.
If both parties like what they learned during the first interview, you’ll be invited to see the franchises’ systems and processes behind the scenes and in detail.
You’ll also gain access to the company’s Franchise Disclosure Document (FDD). A detailed document enforced by the Federal Trade Commission that ensures you receive all the necessary information to make an informed decision with no hidden secrets.
Step 5: Validation of both parties.
In this step, both parties will fully validate each other by getting into the nitty-gritty details. The franchisor will verify your financials, strengths and weaknesses, qualifications and anything else pertinent to know about you.
Of course, these are also questions you’ll also want to ask the franchisor.
At the end of the day, the franchisee-franchisor partnership is a long-term collaboration.
It is very important you take the time to do your due diligence on the franchise company’s background and prepare for their in-depth look into you.
Step 6: Attend a final interview and discovery day.
When you’re at this stage, things are picking up. You’ll be invited to the franchise’s headquarters, where you’ll get to meet the corporate team and participate in a discovery day.
Once again, both parties will learn more about each other and establish each other’s mutual obligations.
Step 7: Review and sign the franchise agreement—and become a franchise partner!
It’s the final decision time!
After getting this far in the discovery and both parties decide it is a “YES,” then the agreement will then be drawn up.
Before signing, be aware that the agreement is legally binding, so ensure you review it thoroughly. Most prospective franchisees will have a franchise attorney review the document with them, so everything makes sense, and there is no room for misunderstandings.
If both parties are happy with the results and have a signed franchise agreement in their hands, then it is time to start preparing for a successful launch!
Again, each franchise company will have their own version of the franchise discovery process; however, the purpose will remain the same—get to know each other in-depth.
Are you curious about what an established franchise does during its discovery process? If yes, read along and learn about what we at Nurse Next Door do—it’s more fun than you think!
Nurse Next Door’s Franchise Discovery Process
Step 1: Discovery Video
The very first step is finding out about Nurse Next Door. Whether it’s from radio, word-of-mouth or Google search, you are here to learn more about a franchise with Nurse Next Door.
You can learn more about us as a brand and get a feel about the experience of being a Nurse Next Door franchise partner by requesting access to watch our free discovery video.
Step 2: Join a Discovery Call
The discovery call is the second step in our process. This is a 45-minute conference call that will give you an introduction to Nurse Next Door’s brand.
Home care is a booming business. People across North America from different walks of life are exploring entrepreneurial opportunities, so we host our franchise discovery Calls twice a week to accommodate the demand!
Our team hosts the call to:
- Explain the Nurse Next Door Franchise Opportunity
- Why Nurse Next Door? What sets us apart from the crowd
- How we support Franchise Partners 24/7 to allow them to grow their business
- Outline what we look for in an ideal Nurse Next Door franchise partner
The call is a high-level overview of our business model and our key differentiators. This allows you to see if what we are doing here aligns with what you want to be doing in your future.
If you match the criteria that we are looking for in an ideal franchise partner, then you will qualify for a first interview.
Step 3: First Interview
The first interview will be one-on-one with one of our franchise development managers.
Now that you’ve listened to our discovery call and learned a little bit about Nurse Next Door, we want to get to know you!
We will have some questions for you in regards to your background, experiences and why you are interested in our franchising opportunity.
After that, we will turn it over to you so you can ask us whatever is on your mind.
The goal of this call is for both of us to figure out if we can see a potential fit here. If we do, we will start spending a few hours each week doing some research together as we move to the next step in the process!
Step 4: Systems & Support
After completing the first interview, it’s time to do the research.
The systems and support stage of the process is where it will give you a peek behind the curtain at Nurse Next Door and start ramping up your knowledge. Next, we will run through what we bring to the table regarding setting you up for success and helping you grow your business.
One of the highlights would be our 24/7 call center, called “Care Services Center,” which will manage your scheduling so you can work on building your business!
We will take you through the life cycle of a new franchise partner and paint a picture of what you’ll experience at each stage. We will also discuss the resources, tools and support you will receive if you become a Nurse Next Door franchise partner.
These are some of the topics we will discuss:
- Final interview day
- Signing agreements
- Licensing
- One week of training at HeartQuarters (Vancouver, BC)
- Pre-launch marketing
- Pre-launch hiring
- Opening day
- Business coaches
- 16-week plan
- Marketing collateral
If you’re on board with our franchise’s systems and supports and everything else along the way, welcome to Step 5!
Step 5: Finance & Validation
Time to crunch the numbers!
Now that you thoroughly understand Nurse Next Door and our business model, it’s time to look at the financial landscape.
Together, we will work on a financial plan and set you up so you can build out a three-year performance landscape of the business.
To help you out, we will start to introduce you to some of our existing franchisees so you can hear all about their experiences in the business and ask them some questions.
Here are the top 5 questions to ask during a validation call.
Step 6: Final Interview Day
The final interview day is the culmination of all of our work.
If you tick all the boxes, we will formally invite you to Vancouver, BC, to spend a day with us at our head office!
This is a chance for you to walk inside our four walls, soak up the culture, meet the team and see if you can see a partnership here.
We will be doing the same as our Leadership Team will ensure you’re the right fit for us as well.
Step 7: Franchise Agreement + Congratulations, You’re a Franchise Partner!
There are no decisions to be made on the final interview day; both parties will go away for a few days and reconnect with a decision the following Monday. If both parties are a “YES,” then we will start to draft up the agreements.
First up is a deposit agreement, which is a $5,000 down payment toward your protected territory. This will give us a chance to start working on the franchise agreements while that territory is on hold from anyone else. Once you receive the franchise agreement, you must sit on it for seven days before signing it. We will then countersign and—drum roll please… as congratulations—welcome to the team!
Access Your Welcome Package which includes
- Discovery Video – 15 min overview of this opportunity
- Franchisee Testimonials
- The Nurse Next Door opportunity
- Access to our calendar to book a 1×1 call.