First Fund Backs Discover My Franchise

First Fund is pleased to announce its backing of Discover My Franchise, founded by franchise industry veterans, Petro Loychuk and Jackson Loychuk.

Discover My Franchise (DMF) was developed out of the desire to provide a tool to both Franchisors and Franchise Applicants themselves to help streamline a previously complicated and unoptimized process. The US alone sees 150,00 new franchises every year, with franchise sales totalling $3.75B. Up to $40K is spent on Franchise Development per new franchise, amounting to $600M annually. DMF is a new type of cloud-based web software designed for the Franchise Industry. Their Discovery Relationship Manager (DRM) uses a unique and informative step-by-step learning guide that gives franchise candidates deeper insight into a business, its operations, and community while simultaneously gathering informative and analytical data on each candidate. With a variety of ways to customize the DRM, it allows franchise owners to easily mirror their brand's image and values while compiling every piece of the puzzle needed to complete a franchise sale in one service.

"Discover My Franchise is a new form of sales software that is on the verge of disrupting the franchise industry as we are bringing new technology, significantly cheaper prices, and no long-term contracts into an industry that has not evolved in over a decade. Our revolutionary Discovery Relationship Manager (DRM) redefines and optimizes the current fractured state of franchise development by providing an all-in-one step-based system that allows franchise candidates to easily learn about a franchise brand while providing all the necessary information about themselves to complete a franchise sale. First Fund has played a major role in providing us with the necessary resources to achieve our goals and make the right connections within the industry putting us on a path to becoming a dominant player within the franchise industry," commented Petro Loychuk, CEO of Discover My Franchise.

“This was a prime opportunity to disrupt a Dinosaur industry using technology. The Franchising industry is one of those industries that is still selling today the same way it used to in 1965. Not only was the opportunity great because the Founders intrinsically understood the problems, having franchised to 100+ locations themselves, but COVID-19 has changed how the Franchise industry is looking to do sales, and the need for an online solution is more prevalent than ever before,” First Fund founder, Samarth Chandola said.