Getting Started In Franchising
Getting started? According to the Canadian Franchise Association franchised businesses account for 40 percent of all retail sales in the country. With currently over 78,000 franchise units across Canada, franchising directly employs over 1,000,000 people. Franchising has been reported to account for one out of every five consumer dollars spent in the country in good and services, and franchising accounts for 10 percent of Canada’s Gross Domestic Product (GDP).
Every year more and more Canadians are joining a franchise system, and franchise opportunities are continuing to grow as the industry evolves into a powerful economic growth engine with endless opportunities.
Whether you’re a curious consumer or experienced entrepreneur, here are a few steps you need to take before taking the first steps towards your franchise opportunities in Canada.
Firstly, Ask Yourself “Is Franchising Right for Me?”
Franchising is not a guaranteed path to success, but it is a solid formula based upon tried and tested systems that can pave the way to success.
Joining a franchise is not for everyone; to be successful you must be willing to follow the system provided by the franchisor. If you don’t like to be managed, follow a business plan, or be a team player, then perhaps you should reconsider your options.
Franchise opportunities work because it delivers goods or services in a consistent manner, regardless of location. If you want to do things your own way then franchising may not be suited to you.
Welcome to Franchising
Advice on all the different aspects of getting started in franchising is available on the left hand side of this page. Read through our advice carefully to learn more about what you’re getting into. Once you have entered into the franchise agreement, your journey in franchising truly begins. As with any business, there will be ups and downs, but with the research you have done, coupled with the knowledge that you are entering into franchise system that has proven to be successful in the past, you have every chance to succeed.
Of course, there is still a lot of hard work to come. Good luck in franchising!
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