You’ve narrowed your search; you’ve done your due diligence. What’s next on your journey to becoming a franchisee? Discovery Day. At Winmark, this day is designed with the candidate in mind. You’re given the opportunity to see the company, meet the people behind our brands, ask questions and obtain more detailed information regarding the support and training we provide for our franchise partners.
“Your final questions will be answered, and you’ll have a comfort level moving forward,” explained Peter First, director of franchise development.
Discovery Day is not about selling; no one will send you on your way with a franchise agreement in hand. It’s about exploring the many facets of a new exciting business opportunity. You’ll finish the day better educated to move forward.
Meet the People Behind the Brand
Discovery Day provides you with the opportunity to meet the team you’ll be working with at Winmark should you become a franchisee. Your day begins with an overview of Winmark Corporation and some special tips on how to be successful with our franchise brands. Additionally, this is a great time to network with other potential franchisees and even current franchise owners who may be back at Discovery Day for another Winmark brand.
Most Winmark Franchisees don’t come from a retail background so our team is here to train you in our type of retail. Your day will include meetings with team members from key departments who will support you from the day you sign your franchise agreement, through your grand opening and beyond. This includes:
- Real Estate
- Field Operations
- Marketing and Advertising
- New Product Buying Group
Discovery Day may also include a store tour where you’ll have the opportunity to take a behind the scenes look at the business model and see how the proprietary point of sale system works in real time.
One of the most important sessions will include an overview of the Franchise Disclosure Document (FDD). The FDD details all of the legal items surrounding the business and the franchise relationship. We’ll cover key sections and answer any questions you may have. The FDD also includes the contact information for all the current franchisees.
“We’re very open with this and encourage you to call and visit as many stores as you’d like,” said First.
What to Prepare
Discovery Day isn’t just educational for franchisees; Winmark will also take this time to get to know you. You should be prepared to discuss a few key points including your expectations for the business, your general plan for financing and your operational plan - such as who will be running the day-to-day operation of the business. You’re not expected to have everything completely determined, but be prepared to share your thoughts and ideas.
Our goal is that you, as a potential franchisee, leave Discovery Day with your questions answered. At the same time, we’re ensuring you’re a good fit for the brand through proper capitalization and your understanding of the business model.
“Ultimately we’re looking for competitive, team oriented franchisees who will see our system average sales and say that’s great – but I don’t want to be average. I want to exceed my business plan projections and set my sights on being one of the top stores in the system,” First added.
Interested in a business opportunity in the thriving resale industry? Click here to learn more about Winmark Corporation’s franchise brands.