Low Cost Franchises in Canada – What to Expect
FranNet
by Anna Miller
3w ago
While there are pros and cons to every franchise opportunity, the franchising industry has proven to be an integral part of Canada’s economy. It represents a $120+ billion industry, making it the 2nd largest franchise industry in the world (Canadian Franchise Association).  For some, the financial barrier for buying a franchise business seems too high. While most franchises offer a lower risk opportunity than independent start-ups, many franchises also require a significant upfront investment. Fortunately, there are also low-cost franchises available, which makes owning a franchise busine ..read more
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Choosing the Right Franchise As a Retiree
FranNet
by Anna Miller
3w ago
“For some, the idea of becoming a business owner may seem overwhelming and complex but, rest assured, it doesn’t have to be…An entrepreneur can be a retired nurse who now teaches CPR to supplement her income…a former mill worker who opens a small engine repair shop in his garage…a former marketing executive teaching adult education classes for struggling business owners…You just have to be open to the idea of finding an activity you like doing that can also put extra money in your pocket. Embracing this life-changing definition of entrepreneurship can open the door of possibilities to anyone h ..read more
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Should You Start a Business After Retirement?
FranNet
by Anna Miller
1M ago
While the average retirement age in the United States has fluctuated over the decades, the average life expectancy in the US has steadily increased. This means more years in retirement for many people. While there are obvious benefits to this, it can be daunting for those who desire financial security or hope to stay mentally and physically active during their retired years.  Franchising offers a solid option for retirees to continue receiving income while also working hard to build something that they can pass to the next generation. When comparing franchising with starting an independen ..read more
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Have You Recently Been Laid Off From Your Job?
FranNet
by Anna Miller
1M ago
Unfortunately, job security is not a guarantee in today’s economy. In fact, mass layoffs from major companies don’t seem to come as a surprise anymore. In the first month of 2024, 776+ companies had already announced mass layoffs, and 5487+ companies have announced mass layoffs since January 1st, 2023 (Intellizence).  It goes without saying that being laid off from a job comes with significant emotional and financial impacts. While the degree of impact will depend on each individual and their circumstances, most people who get laid off will need to find another source of income. The tradi ..read more
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How to Buy a Franchise in Canada as an Immigrant
FranNet
by Anna Miller
2M ago
Franchising is a booming industry in Canada representing $120 billion. While it’s the twelfth largest industry in Canada, it is the second largest franchise industry in the world (CFA). Canada certainly offers an appealing opportunity to non-Canadian entrepreneurs who are seeking franchise ownership. In fact, according to the Canadian Franchise Association:  “Since the introduction of the International Franchise Attractiveness Index in 2020, Canada has consistently ranked among the top five countries with attractive franchise markets for balanced growth. This means international prospecti ..read more
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Franchise Marketing Plans – What Do You Need to Know
FranNet
by Anna Miller
2M ago
When it comes to franchise marketing, there isn’t one strategy that can be employed with the expectation of success. It’s important to know that there isn’t a silver bullet. Rather, marketing is a multifaceted effort that requires a commitment to many tactics in order to create a cohesive and effective franchise marketing strategy.  Anyone that’s completed a puzzle knows that the process entails putting together diverse pieces to reveal the complete picture. In a similar way, a successful franchise marketing strategy involves fitting together various elements such as branding, customer en ..read more
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Choosing a Business Structure for Your Franchise
FranNet
by Anna Miller
2M ago
Disclaimer: This blog is intended to provide helpful information, not legal advice Choosing the right legal structure is key to the success of any business, whether you’re starting a business from scratch or starting a franchise. Some of the various formations include an LLC, C-Corporation, or S-Corporation.  While a franchise can operate under all of these business structures, you should note that the franchise agreement will typically outline which one to choose. However, if it’s up to you to decide, then it’s important to seek legal counsel that specializes in franchising and is local ..read more
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What is Brand Equity and Why Is It Important?
FranNet
by Anna Miller
2M ago
Brand equity refers to the value and strength that a brand adds to a business’s product or service. It is made up of the perceptions, associations, and attitudes that consumers hold, which significantly impacts the brand’s performance. This makes brand equity a key component to a business’s success. There are numerous benefits to pursuing brand equity, which include:   Consumer recognition  Customer loyalty Competitive advantage  Premium pricing  Employee morale  Partnerships & collaborations  Market resilience  Brand equity is particularly crucial ..read more
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What is the Cost of Starting a Franchise in Canada?
FranNet
by Anna Miller
3M ago
It shouldn’t come as a surprise that there isn’t a simple answer to this question. That’s because the cost of starting a franchise in Canada widely varies depending on the brand, industry, and location.  One of the best ways to know the cost of a franchise is to contact the franchisor and ask for detailed information, including the Franchise Disclosure Document (FDD). The FDD is a legal document that provides specifics about the franchisor, the franchise system, and the terms of the franchise relationship. This includes financial information that will help you understand the costs of buyi ..read more
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Are Franchise Fees and Other Costs Negotiable?
FranNet
by Anna Miller
3M ago
Buying a franchise is a great option if you want to become a business owner and are drawn to the idea of having a proven business model. Of course, there are startup costs for any business, whether it’s a franchise or starting one from scratch. However, franchise ownership also comes with various fees to consider. These fees are paid to the franchisor in exchange for rights to the brand and the ongoing support the franchise provides.  Here is an overview of different franchise fees and costs you can expect:  Royalty fees  Advertising and marketing fees  Initial franchise f ..read more
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