Steps to Become a Franchisee
Pre-Qualification – This is typically a 2-6 day process. During this time you will be working with either your Franchise Development team member to receive a brief description of the opportunity, and understand the candidate profile Diamond Physicians is seeking. You will be asked to complete the Request for Consideration Form, and to confirm basic contact and qualification information. When we receive your Request for Consideration form, we will contact you to schedule your next phone call within 3 days to cover Program Review and get answers to the questions you may have regarding the information you received after the initial call.
Program Review – During this time we will:
- Ask for and address general questions
- Discuss ownership benefits and advantages
- Share our mission statement, culture, and values
- Summarize training, operations, marketing, and management
- Review next steps and prepare you for receipt of the Franchise Disclosure Document
After this meeting, a franchise development team member will send you our FDD, application; discuss how to prepare for the disclosure review process, and schedule a time for the next meeting within 5-7 days.
Disclosure Review – During this meeting we will:
- Review key areas of the Franchise Disclosure Document
- Answer your questions
- Identify upcoming Discovery Day locations and dates
- Review funding options
- Review next steps and prepare for franchisee validation calls
After completion of this meeting we will provide names and contact information of current franchisees for you to discuss the opportunity with and schedule the next meeting to review franchisee conversations 5-7 days out.
Franchisee Validation – During this meeting we will:
- Review franchisee conversations
- Review preliminary approval of financing
- Discuss with you the Executive Interview/Discovery Day checklist
- Provide you with a filled-out agreement to satisfy the five-day FTC rule
Prior to completing this call we will also set up a meeting executive interview and plan a Discovery Day event to reaffirm expectations and determine if you will be a good fit for our system within the next 2 weeks.
Discovery Day – After having an initial over the phone executive interview you will be attending one of our Discovery Day events. During the event you will have the opportunity to tour local operations and visit with the CEO and senior executives.
It is the committee’s decision at the conclusion of Discovery Day whether to extend a franchise offer or disqualify a candidate. Here’s what the review committee must answer: “Is this individual a good fit that can be successful and a contribution to the system?” or “Is this a person who really doesn’t match our franchise profile and will likely create problems for us down the road?”
Ideally, if all other steps have been completed, committee-approved candidates sign their agreement(s) and pay their franchise fees at the conclusion of the Discovery Day event.