If you’ve started exploring franchises, you might already be thinking something like:

“Why are there so many calls?”

“Why do I have to go through all these steps?”

“I don’t even know if I want to do this yet — why does it feel like such a process?”

You’re not alone, a lot of people feel that way at first. But here’s what people often get wrong:

The discovery process isn’t designed to convince you to buy a franchise.  It’s designed to help you gather the information you need in order to make a decision around whether franchise ownership is right for you and if the brand you’re speaking with is the right brand based on your goals.  It’s also an opportunity for the franchisor to evaluate you to determine if they believe you’d be successful in their system and for them to make a decision to award you territory.

No one you speak with will be expecting you to know if you want to move forward as you’re starting the process.  

You are not committing to anything by starting the process.  But by starting you are investing time in yourself and for yourself to learn if the reality of franchising and business ownership aligns to what you’ve been dreaming about.

And the steps aren’t there to wear you down or waste your time.  They exist because:

• you can’t evaluate if a franchise brand will help you achieve your goals from a brochure
• the role, financials, support, and expectations unfold in layers
• you shouldn’t make a major investment based on surface-level information
• both you and the franchisor need to determine mutual fit

A reputable franchise won’t pressure you. A good consultant won’t push you. A healthy process will give you clarity, not anxiety.

So with that said, here’s what each step is for, how to prepare, and how to get the most value out of it… even if you’re still on the fence.

Step 1: The Initial Conversation

This is simply a conversation to learn about you, your goals, your timeline, your financial picture, and what’s motivating you to explore business ownership.

Why it matters:

A franchise is an investment in your life, not just your money. If the model doesn’t align with the life you want, nothing else matters and there’s no point in continuing to invest more time learning about that particular brand.

How to be prepared for the intro call:

• Be ready to share why you’re considering business ownership and what your professional background has been
• Be ready to share what you want more of (freedom, flexibility, income growth, purpose)
• Be ready to share whether to what level a spouse or partner will be involved with your business and decision-making process

Step 2: The Brand Overview

This is where you start learning what the business actually looks like day-to-day.  Who it serves, how it makes money, and what your role would be.

Why it matters:

If you hate the daily activities, the business will feel like a burden, even if it’s profitable.

How to be prepared:

• Know what kind of work energizes you
• Think about whether you want to manage, lead, or be hands-on
• Invite your spouse if they will have emotional influence

Step 3: Financial Qualification

Don’t worry, this isn’t a credit application. It’s simply confirming that the investment level aligns with your financial capacity and comfort.  Best practice would be to speak with a lending partner to learn and understand what options are available to fund your business.  This is very similar to getting pre-qualified for a home mortgage.  You’re not taking out a loan – rather understanding what level of investment you can afford.

Why it matters:

You shouldn’t fall in love with a brand you can’t comfortably afford.

How to be prepared:

• Approximate liquid capital
• Estimated net worth
• Credit score range
• How long you can go before needing income

Who to include:

• Spouse/partner
• Financial advisor (optional)

Step 4: Deep Dive Into the Business Model

Now you start understanding ramp-up expectations, scalability, revenue drivers, and what success looks like.

Why it matters:

This step helps you answer the big question:

“Can this business get me where I want to go?”

How to be prepared:

• Know you income goals. I’d recommend you build tiers to understand what’s your minimum requirement to get by, then a level up that defines what income you need to feel comfortable, then a level up that defines your upper limit, long-term goals
• Understand your time-to-profit expectations. This is critical to understand if you need to be looking at semi-absentee models that allow you to maintain your current job while you build up your business or if you can afford to leave your job and work in an owner-operator role.
• Risk tolerance.  You’ll want to reflect on your tolerance for financial risk as well as understand if you’re open to considering newer franchises that don’t have decades of history proving the success of other franchisees in their system.

Step 5: Reviewing the FDD

The Franchise Disclosure Document gives you the legal, financial, and operational transparency required by law.

Why it matters:

This is where the facts live.  It outlines the fees, performance data (if provided), territory protections, financial health of the franchisor.

Who should be included:

• Franchise attorney (recommended)
• Spouse/partner if they are financially tied to the decision

Step 6: Validation Calls with Franchisees

This is one of the most important steps, you get to speak directly with current owners.

Why it matters:

They’ll tell you what’s amazing… and what’s hard. You want both. 

How to be prepared:

• Be ready with questions about their on-boarding and ramp-up experience.
• Ask them about any lifestyle impact (good or bad) they experienced by starting their business with the brand.
• Ask them about their profitability timeline.  The FTC prevents consultants and franchisors from promising any financial performance success but the franchisees are free to share their own performance and how long it took them to ramp-up. 
• Ask about the quality of support from the franchisor.
• Ask them if they’d do it again?

Who should join:

Spouse/partner… lifestyle becomes real here

Step 7: Territory Review

Not every territory is equal. This step confirms demand, demographics, and availability.

Why it matters:

Your territory can influence your success more than your effort.

Step 8: Discovery Day

This is where you meet the leadership team, training staff, and support structure and they get to know you too.

Why it matters:

You’re entering a long-term business relationship. Culture and trust matter.

How to be prepared:

• Bring the knowledge you have about your local territory, the nuances of different cities/neighbors/etc into your discussions with each team.
• Show up with enthusiasm and professionalism.  If discovery day is done in person, be mindful of your behavior.  Franchisors have denied awarding prospective owners’ territory in the final stages for things like overindulging in alcohol during dinners during Discovery Day events.  It would be a shame to invest the time and energy to get to Discovery Day only to blow it with something could easily be avoided.

Step 9: Awarding the Franchise

Yes, you must be approved by the franchisor in order to sign. Reputable brands do not award franchises to just anyone.  They will be evaluating you through the discovery process and may have some formal steps for you to complete closer to the end (such as proving you have enough funds to successfully carry the business until the point of profitability while covering your own living expenses).  While this may feel like a hassle it actually helps protect you from making a potential mistake.

Why it matters:

You should feel chosen, not sold.  You should know they’ve vetted you and have full faith in your ability to succeed.  Business ownership can be scary and there will be days (especially early on) where you might be doubting yourself… on those days it helps to remind yourself you were fully vetted by a team that knows what’s required for people to be successful and they determined you have what it takes!

Step 10: Signing

This locks in your territory and officially makes you a franchisee.

Step 11: Training, Onboarding, and Launch

This is where excitement turns into action, and support kicks in.

A Final Thought

Throughout this process, you should feel:

• Informed
• Respected
• Unrushed
• Supported

If you ever feel pressured, confused, or like someone is “trying to sell you”…

Pause.

Ask questions.

Trust your instincts.

The right franchise doesn’t need to convince you.

The right fit will make sense as you learn.

If You Want Someone to Guide You Through the Process. This is exactly what I help people with, at no cost to you.

If you want:

• help identifying brands that match your goals
• coaching through the discovery steps
• preparation for calls and questions
• spouse alignment support
• objective guidance
• someone in your corner who understands the process

You can book a call with me here.

No pressure. No commitment. Just clarity.

When you’re ready, I’m here to help you explore whether franchising is the right path for you, and if it is, which brands are worth your time.