STEP 3…The Tweener

NOTE: You can engage in this step either in person or on the phone ONCE your candidate has sent you 1) their completed Personal Qualification Profile and 2) documentation of their financial capability to fund the purchase and the building of their franchise.

There are FOUR components to STEP 3 (The Tweener)

Component # 1

Before starting STEP 3, please, please, please review your prior notes from STEP 1, STEP 2, and chats with your supervisor.? THEN MAKE SURE YOU COLLECT & READ two

documents:

ü The candidate(s’) completed Personal Qualification Profile, and

ü Documentation that the candidate has access to the required level of funding to purchase and build your franchise.

Once you have collected these completed materials, REVIEW WITH CANDIDATES the results of both documents.

While conducting this conversation obtain feedback from candidate(s). Do they agree with the results? If not, discuss further. Find answers, correct misunderstandings, and WHEN TRUE, ensure them that up to this point, your company is interested in their candidacy. Do not PUSH! Instead, do a MILD take away, IF YOU KNOW HOW. If not, do not attempt.

IF the candidate simply does not meet the required qualifications AT THIS TIME, and you see no way for them to become qualified AT THIS TIME, please inform them of what they need to do to become qualified, and put it in writing for them to take with them, then wish them all the best.

Component # 2

Discuss Discovery Day:

Suggested Introduction: “One of the franchise “research events” our candidates like the best is our Discovery Day. This is when we invite qualified candidates to come visit us in the home office. We love it and so do candidates.”

I understand that I have not obtained our company’s approval for you to attend Discovery Day, but based on what I see thus far, I am optimistic, and I want you to know what happens here.”

DISCOVERY DAY QUALIFICATIONS INCLUDE:

1.? Attend and participate in Steps 1 and 2.

2.? ?After Step 2, the candidate needs to:

? Complete your Confidential Personal Profile

? Read FDD, sign receipt, and discuss with you

? Document they have access to required funds.?

? Receive your & company's executive approval.

Discuss Discovery Day…BRIEFLY…to give insights

“Here is an outline of what happens at Discovery Day”:

PROPOSED AGENDA

·?????? History and development of the company.

? Corporate Officer(s) ?

·?????? The role of the franchisees in the company’s growth

·?????? The role of the company in the franchisees growth.

·?????? BREAK (Serve coffee, cold drinks, and a snack.)

·?????? How Franchisees Profit/Benefit from building THEIR business.

·?????? LUNCH

·?????? Franchisees’ Responsibilities

·?????? Franchisee Training

? Corporate Support Team

·?????? BREAK (serve coffee, cold drinks, and a treat)???????

·?????? How to Collaborate Successfully with Existing Colleagues.

·?????? Questions and Answers?

Component # 3?

Talking with Existing Franchisees

Say this: “After each Discovery Day, I meet with our corporate team to discuss our candidates status based on all of the information we collected and observed. We also emphasize candidates’ questions.”

“Once this discussion session is ended, you and I will get together by phone or in person and discuss any aspect of our franchise awarding process you wish. We obviously want your feedback and I will relay to you the corporate team’s feedback.”

“If we are moving forward, the next step in your investigation is talking with our franchisees. I will facilitate this step for you and the franchisees.

So, that’s it for us today. I believe we had a great day of learning. Do you have any questions or comments thus far into your investigation of our franchise?”

Respond to questions and comments and then bid your? candidates a fond farewell until next time.

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FINAL NOTE ON DISCOVERY DAY AGENDA REVIEW

As you can tell, Discovery Day is a very, very,

crucial element of our franchise awarding process. A LOT is going on during this step, including everyone observing everyone else.

Ask Questions, i.e., “Thus far, in our “get acquainted” process, has the information made sense to you?”

DISCUSS…based on candidate’s comments and your knowledge of how your company’s franchise works.

When finished, remind them that you will call them to review the FDD. Set a day and time to do so.

Then discuss the results with your supervisor to see if s/he authorizes the candidate to participate in Discovery Day. If ?s/he does, then set up a special phone call to review the FDD with the candidates and answer their questions.

If the candidate does not receive your supervisor’s approval for Discovery Day, then you must let the candidate know that their exploration of your company’s franchise must end…for now. Explain the reasons and steps they need to take to re-enter their exploration if they so choose.

ADVICE: Talk with the approved candidates to make sure they plan to continue to investigate your company’s franchise. If so, send them an invitation to Discovery Day. If not, find out their concerns and “fix” them legally and honestly. Do NOT make income claims that are not in the FDD, or any untrue aspects of the business.

DISCOVERY DAY…the pinnacle of this process

Next, we move on to DISCOVERY DAY! STEP 4. As you will see, it is a very important step and when conducted correctly, this step will motivate your candidates to continue with their investigation of your franchise.

At the same time, as I point out later, things can go wrong in this step that causes a candidate to “bolt” from their investigation of your franchise.? STAY TUNED! In our next publication, we will address this situation.

Mick to Sales Executives: That’s the completion of the STEP 3 interaction. While it may not be long or complicated, it is a crucial element in this franchise awarding process. It is the point at which you must retain your company’s high standards for accepting qualified candidates to participate in Discovery Day.

?

Michael (Mick) Riddiough

Franchise Consultant.

Write to me with your questions:

[email protected]