Immigrants entrepreneurs: Franchise Opportunities in Canada
Buying into a Canadian franchise is a great way to start your own business , be self employ and and establish yourself as immigrant entrepreneur in Canada.
Canada is home to the second largest franchise industry in the world, with over 75,000 units currently operating. Annual sales from Canadian franchises add up to over CA$100 billion, and over 500 franchisors from the US have branched out into the Canadian market.
What is franchising?
Franchising is a way of doing business where the franchisor authorises an individual or group (the franchisee) to offer, sell or distribute goods or services under their professional strategy or marketing plan. It is very effective for establishing and developing a brand and achieving a large market share. Franchises in Canada are generally classed as either ‘product or service’ or ‘business format’. While most franchises usually are more one category than the other, many still combine both aspects.
Benefits of buying a franchise
Buying into a franchise gives you the ability to run your own business and get involved with an established brand. Entering into a franchise as a newcomer to Canada can be a great idea, as there is a lower risk of failure and you’ll have the added security of start-up help.
There is a vast array of franchise opportunities ranging from coffee and pizza restaurants to gyms and home services. Start out by looking within a field of business that holds particular interest for you, or one in an area that you’re already know a lot about.
Be prepared for the franchise business
Starting a franchise can seem like a safe bet with guaranteed success, but there are pitfalls of which you should be aware. Thousands of people join the franchise community every year in Canada, and while statistics show that most prove to be successes, not everyone is cut out for it and it is imperative that a prospective franchisee knows what they’re in for.
It is important to note that purchasing a franchise can be expensive, with steep start-up and ongoing costs, and that you will be required to follow the guidelines set out by the franchisor. It is recommended you do your homework when considering with the type of franchise you’d like to buy. Some franchisors can be exceptionally strict with their regulations, so if you find it hard to take direction or prefer to go your own way, it is advisable to go with a franchisor who is more relaxed with their guidelines.
On the flipside, having rigid instructions can be beneficial when you’re unsure of a new industry and new to a country. This discrepancy also extends to the costs involved. Start-up and ongoing expenses can vary greatly depending on the industry and how established the franchise is.
Keep in mind that you have more to lose than the franchisor – you’re the one investing your money and livelihood in the business. You can and should ask a lot of questions and research the franchise as much as you can before getting involved and expect the same of the franchisor. Mutual respect and honesty is the best place to start.
Facts about franchising in Canada:
■97% of franchises that open in Canada are still in business five years later, and a full 86% are still operating under the original ownership.
■A new franchise opens in Canada every two hours.
■The average franchise fee in Canada is $25,000.
■One franchise operation exists for every 450 Canadians
Looking at business opportunities in Alberta and need advice? We match entrepreneurs with franchise business opportunities. There are a variety of business franchises available in Alberta. We can help you find the right one for you today. I can help you with all the various different types of business opportunities in Alberta. Let us help you decide which Alberta franchise opportunity is the right fit for you. I would be happy to help you if you’re interested in starting a business in Alberta. Send me a message today to get more information on starting a franchise in Alberta.
If you are interested in investing in a franchise business or are wanting franchise information as you contemplate this career direction, then you have come to the right place! There are so many franchise choices that it can be overwhelming how to know which is the right choice for you. We at FranNet will carefully help you identify an appropriate franchise business through our 4 Step Research Process. This begins with our personal franchise assessment, followed by a 1-1 meeting with you to review this assessment, build your ideal business model and then support you through the due diligence process as you research the franchises we match you with. I would love to begin this process with you, so feel free to contact me directly to set up an appointment.
Marisol Diaz is an experienced workshop presenter, specialized information publisher, and a SOHO specialist. She also has been writing on Canada settlement and immigration law since 2006. contact her @ email@example.com. You can improve your Canada job search through the Canadian database for Int’l Professional or Hineni CED , a Paid Content or Informational Services site run by Hineni Media.
Access more than 400,000+ Canadian province-specific company profiles in industries such as manufacturing, transportation, consumer goods, consulting services, finance and technology. Available only to premium subscribers.