GLOSSARY
Discovery day
Discovery day is the franchisor-hosted visit near the end of the sales process — equal parts final interview and final sales push.
You tour headquarters, meet executives, and are told the franchisor is "awarding" franchises selectively. Some of that is real (franchisors do decline buyers); much of it is choreography designed to convert enthusiasm into a signature while the 14-day FDD review clock runs quietly in the background.
The useful move: treat discovery day as your interview of them. Ask about the exits in Item 20, the litigation in Item 3, and the fee range in Item 5 — the answers, and how they're received, tell you more than the tour.
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