Dan Durney is the owner of FranMaster, an outsourced franchise development and coaching company for emerging franchisors. Best known for his involvement in the launch of franchise behemoth Massage Envy, Dan‘s brings unique insights into the world of franchising based on his 14+ years of experience.
This week, Dan and Erin take a deep dive into the four main steps in the process of buying or investing in a franchise:
- Qualification
- Disclosure
- Validation
- Discovery
* Introducing Dan Durney, owner of FranMaster
* Defining emerging franchises
* “Awarding” a franchise vs. “selling” a franchise
* How the franchise sales process begins
* Questions asked during qualification
* Defining the Franchise Disclosure Document and how you should approach and assess it * Explaining the validation process
* What to expect at Discovery Day
* Franchise Development Consultants and others involved in the sales process
* Erin’s three questions
Resources We Mention* OrthoNOW
Get Inspired by Dan* “At the end of the day, the process is always the same. What is the person trying to achieve? Is this a match at a high level for what the franchisor is trying to accomplish and who they’re looking for? Is this person a match for that particular brand?” * “The Best business advice I’ve ever heard is to listen more than you speak.”
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