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Key Takeaways
- Confirmation Day isn’t for figuring out if you like the franchise. It’s for confirming you don’t dislike anything major.
- If you’re not ~95% sold beforehand, you’re too early.
- This is about spotting red flags and validating culture, not starting from scratch.
You’ve performed your initial research, carefully vetted brands, narrowed your options, met with franchise development representatives, completed due diligence and you’ve come to the final stage in the process: Confirmation Day (sometimes called Discovery Day, Decision Day or Meet the Team Day).
It all comes down to that moment. With such a big decision on the line, you must be prepared walking in to make the best possible decision for your future.
Over the last 8+ years as a franchise consultant, I’ve worked with hundreds of candidates, offering guidance as they take this final step in the discovery process. Here are a few key tips to help individuals navigate their Confirmation Day experience:
Before your visit
Mindset: Confirmation Day is a significant time and money investment for both you and the franchisor. My recommendation to candidates is always to have it narrowed down to one brand that you are 95% confident is a YES before committing to Confirmation Day.
You should have completed your baseline due diligence and financial projections to conclude this is your chosen brand. The primary purpose of Confirmation Day is to look for major red flags, misalignment of vision and a strong cultural fit.
Prepare: If you have specific goals for Confirmation Day, let the franchisor know what you want to get out of your discovery day visit. Send them your list of questions before your arrival. This gives them a chance to prepare to address your specific questions or have personnel available if you have important topics that only certain experts can answer (operations, marketing, etc.)
During your visit
Relax & Lean In: By now, you should have completed the analytical part of your due diligence and made all necessary validation calls and financial projections. Take a breath and relax. It’s time for you to sit back and absorb the brand, culture and community of fellow franchisees.
Take part in any networking or dinner events and use the opportunity to make personal connections.
Confirm Mutual Fit & Alignment: Remember, they are sizing you up just as you are sizing them up. Think about overarching alignment questions. Do you agree with the vision of the founders and their goals? Can you partner with these people? Listen carefully and watch the actions of the founders and executive team to determine if they have formed the company in a way you agree with. While you don’t need to be best friends with your franchisor’s management team, having a positive working relationship is essential.
Stay Attuned to Inside Information: Franchisors will share more detailed and proprietary business practices at Confirmation Day. They will likely show you more detailed information about their marketing systems, POS systems, operating procedures, etc.
That said, there is a limit. Some information will only be shared once you have signed a franchise agreement due to trademark and confidentiality reasons to protect their brand.
Understand Their Succession Plan: While it may feel like putting the cart before the horse, it is acceptable to question the franchisor about their leadership succession plan. This is especially important if it is a young franchise company led by the founder.
What happens if the founder/owner/company leader were to suddenly die or become incapacitated? Who is poised to take over? Is there a short-term exit strategy? This is a good topic to discuss in person.
Confirmation Day Visit Behavior Checklist:
- Be Candid But Professional: Don’t feel you need to hold back — put forth any question or concern you have. At the same time, be respectful and professional — if you’re at Confirmation Day, those “in-the-weeds” questions should have already been answered. Ask high-level insightful questions, but don’t plan for an inquisition.
- Follow Professionalism Expectations: This includes following the dress code for all events and socializing appropriately at after-hours events. (Don’t overdo it with cocktails and keep social and political opinions in check.)
- Be Strategic: Every moment you are at Confirmation Day is a chance to network and learn. You may only get occasional chances to get face-to-face time with the CEO, for example, so spend time with the founders or senior management wisely.
- Be Decisive: Decisiveness is one of the most important qualities that define successful business owners. If you’re attending Confirmation Day, the finish line is in sight, and coming to a yes or no decision is imminent. Expect the franchisor to ask you to commit to a decision date.
After your visit
Explore Your Emotions: As you travel home, notice what you are feeling and thinking. Are you excited? Do you already imagine yourself running the business? Do you find yourself creating a mental list of all the details you need to take care of to get the business going? If you answer yes to all these questions, then your gut is letting you know that this business could work for you.
That said, even if you’re excited, it’s likely to be mixed with some feelings of fear. Remember, this is perfectly normal; you are taking a new direction in life, which is exciting but not familiar. Use fearful feelings to drive you forward. Don’t let them paralyze you or steal your dream.
Communicate Early / Have Your Answer Ready: Communicate with the franchisor within 48 hours of concluding your Confirmation Day visit. Let them know where you are in your decision process. Your visit may have stimulated additional questions or points to be clarified – request that information, but don’t drag your feet. Resolve these questions quickly and expect to make a verbal commitment within a few days after Confirmation Day.
Franchise Agreement: If your decision is a “yes,” they will send you the signing documents shortly after your verbal confirmation. If you need an attorney to review the agreement, they will give you a reasonable amount of time to do that.
Ultimately, Confirmation Day should be an exciting final step in the franchise discovery process. Keep your head, lean into the experience, and follow your gut. Good luck!
Key Takeaways
- Confirmation Day isn’t for figuring out if you like the franchise. It’s for confirming you don’t dislike anything major.
- If you’re not ~95% sold beforehand, you’re too early.
- This is about spotting red flags and validating culture, not starting from scratch.
You’ve performed your initial research, carefully vetted brands, narrowed your options, met with franchise development representatives, completed due diligence and you’ve come to the final stage in the process: Confirmation Day (sometimes called Discovery Day, Decision Day or Meet the Team Day).
It all comes down to that moment. With such a big decision on the line, you must be prepared walking in to make the best possible decision for your future.
Over the last 8+ years as a franchise consultant, I’ve worked with hundreds of candidates, offering guidance as they take this final step in the discovery process. Here are a few key tips to help individuals navigate their Confirmation Day experience:
