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FranchiseFeast

Franchise Discovery Day Checklist

By FranchiseFeast Editorial

A printable checklist of what to ask and verify at a franchisor's Discovery Day, from territory and the ad fund to franchisee turnover and red-flag prompts.

Discovery Day is the franchisor's chance to sell you, and your chance to interview them back. Go in with questions written down, treat it as information-gathering rather than a decision day, and pay as much attention to how candidly your questions get answered as to the answers themselves. Cross-reference what you hear against the FDD, especially Item 20's turnover tables, and take anything about contract terms to a franchise attorney. This is educational, not legal advice.

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The team and culture

Territory and site selection

Marketing and the ad fund

Training and ongoing support

Franchisee turnover and closure candor (cross-reference FDD Item 20)

Required purchases, technology, and red-flag prompts

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FDD Item 20 Explained: Turnover Tables That Tell the Truth

How to read the five FDD Item 20 tables, calculate a real franchise turnover signal from Table 3, spot red flags, and use the franchisee list before you sign.

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FDD Item 3 Explained: A Franchisor's Litigation History

A plain-English guide to Item 3 of the FDD: what litigation a franchisor must disclose, how to read its direction and scale, and why a blank Item 3 proves little.

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First-Time Franchise Owner Mistakes to Avoid

The most common first-time franchise buyer mistakes, from budgeting off the franchise fee to skipping owner validation, and the FDD-based fix built into each.

Before you sign anything

This resource is for general educational purposes only and is not legal, financial, or tax advice. Franchise laws, the FDD, and franchise agreements vary by state and by brand. Review the full FDD and franchise agreement with a franchise attorney licensed in your state and a qualified accountant before you sign anything or pay any money.

Sources

  1. International Franchise Association, What Questions Should I Ask Franchisors When Evaluating a Franchise
  2. International Franchise Association, What Questions Should I Ask About the FDD (maps questions to FDD items, including 19 and 20)
  3. IFPG, Questions to Ask at a Franchisor's Discovery Day
  4. Entrepreneur, How to Spot These 4 Major Red Flags Before Buying a Franchise (restricted franchisee access; high-pressure sales)