The Franchise Buyer’s Guide: An Introduction
Franchises are big business in Canada.
According to Franchise 101, Canada has one of the largest franchise industries in the world, second only to the U.S. Those franchises account for 45% of all retail sales nationwide. There are about 76,000 outlets in Canada—about one for every 450 people—and one new one opens every two hours.
Franchises are, in other words, a massive part of the small business landscape.
For small business month, Buy and Sell A Business has created its first ever Franchise Buyer’s guide, a series in which we take a weekly deep dive to look at what separates the most successful franchises from the rest. Consider it a comprehensive cheat sheet for you as a prospective franchisee, investor and small business person.
Over the next five entries in this series, we’ll look at five criteria:
- Value
- Reputation
- Market Outlook
- The Sales Process
- The “X” Factor
We’ll outline why these criteria matter and each of their component parts. Each entry will also include three exclusive case studies of Canadian franchises that excel in their respective criterion, and explain why it has become a distinguishing feature of the brand.
Throughout the series, we’ll also include questions to begin building your profile as a buyer. These questions are meant to help you understand how your personality and circumstances align with different franchise opportunities. Things like risk tolerance, work-life balance, brand image and your own personal values are all owed careful consideration.
Using this guide, we believe you’ll be better able to evaluate new franchise opportunities on the horizon.
BuyAndSellABusiness.com is also running a buyer’s workshop for those looking to purchase any small business—franchise or otherwise. It’s just 30 minutes long and completely free. You can register at our website.
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