Canadian Franchises: 4 Steps to Finding the Right Franchise


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There are many Canadian franchises from which to choose. The key is finding the franchise that best fits you.

This presentation provides an overview of four key steps to follow that assist you in taking control of the franchise selection process. Follow these steps and increase your chances of choosing a Canadian franchise that is right for you.

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Canadian Franchises: 4 Steps to Finding the Right Franchise

  1. 1. Four Steps to Finding the Right Franchise!Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.comCANADIAN FRANCHISESInsights
  2. 2. PageCANADIAN FRANCHISESFour Steps to Finding the Right Franchise!Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.com2Starting Your Franchise SearchFor many, there is typically a catalyst in life that starts a person on a quest for afranchise. Here are some of the more popular reasons why a franchise search begins:• I’m half way through my life and not reaching my financial goals.• I don’t have nearly enough money saved for retirement.• I’m really tired of the corporate rat race and I want more control in my daily life.• I want increase the quality of my life – it’s not just about money anymore.• I’m ready to take more risk in my life to see what I can achieve.All are good reasons to wanting more, the challenge is how to find the CanadianFranchises that is a good fit for you!
  3. 3. PageCANADIAN FRANCHISESFour Steps to Finding the Right Franchise!Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.com3Step 1: Understanding FranchisingMany make the mistake of thinking they understand the franchise business modelbecause it seems so familiar. This lack of understanding can cause you to overlooksome important details that need to be incorporated into your decision. Here aresome things that are important you understand about franchising:• When you buy into a franchise, you don’t actually own the business. Instead, youown the right to operate the franchise business for a specific period of time.• You have to follow the rules. The franchisor defines the operational business modeland you are expected to operate it as it has been defined.• As with everything, there are advantages and disadvantages of franchising andyou need to understand them fully before signing on the dotted line.The better you understand Canadian Franchises and the business model, the betteryour chances of making a solid decision.
  4. 4. PageCANADIAN FRANCHISESFour Steps to Finding the Right Franchise!Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.com4Step 2: Knowing What A Franchise OffersTo decide if a franchise is a good option for you, you need to understand whyfranchising makes sense for some and not for others. A typical franchisee gets intotrouble when the amount of work needed to start a franchise is underestimated.Consider the following:• A franchise can provide you with the “vehicle” to success, but you still have to doall the driving -- the hard work, decisions & dedication needed to make anybusiness successful.• While a franchise can provide operational guidelines, procedures, training andsupport, you still have to manage the business and its operations. It doesn’t run byitself.• Franchise or not, a business requires a passion for the business, a positive attitudeand a willingness to give it your all.All those starting and operating successful Canadian franchises will tell it it is no easytask. It requires careful consideration before you sign on the dotted line.
  5. 5. PageCANADIAN FRANCHISESFour Steps to Finding the Right Franchise!Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.com5Step 3: Taking Inventory of YourselfOne of the most important things that many do not do is to take the time to do a self-inventory. To find the right franchise requires you clearly understand what you bring(and don’t bring) to the table. Make a list of the following:• Skills - You need to list your strengths and weaknesses. Dig up past performance reviewsand talk with colleagues. If you don’t possess what is needed to succeed, better to find outnow.• Experience - do you have experience to draw on to make right decisions to succeed.Make a list of the business experiences you have that could help you succeed.• Goals - examine and document your business, personal and financial goals. What do youhope to accomplish in each of these aspects of your life, say in the next 5 years?Only you can determine if you have what it takes to succeed in business. Are you agood fit for franchising? Download our “Franchise Fit” eBook to assist you in thisanalysis.
  6. 6. PageCANADIAN FRANCHISESFour Steps to Finding the Right Franchise!Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.com6Step 4: Selecting a FranchiseMake sure you select a franchise that is right for you, as opposed to the franchisorselecting you. Understanding what is meant by this statement could help you to avoidfailure. Here are some key points:• Some low-quality franchisors are only looking for someone with a heartbeat andthe money to purchase the franchise.• You may have the skills and experience to make a great franchisee in the eyes of afranchisor, but you need to ensure the franchise fits you personally.• A high-quality franchisor can provide you with a franchisee success profile - andthey will turn away candidates that are not a good fit for them.To get additional help in franchise selection, download our Franchise Evaluationwhite paper that provides a framework for evaluating franchises.
  7. 7. PageCANADIAN FRANCHISESFour Steps to Finding the Right Franchise!Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.com7SummaryThere are many Canadian franchises from which to choose. But you need to go into thisdecision with your eyes wide open.Starting a franchise business or buying a franchise for sale is not the easy path to successbecause there is no easy path when it comes to starting a business. Any business is going totake dedication, a passion for business, a positive attitude, and a willingness to give it all youhave to launch the business.Take time to truly understand the franchise business model and most importantly, take aninventory of yourself -- skills, experience, goals and define exactly what you want out of afranchise business.Lastly, as you progress in your franchise search and you enter the franchise evaluation phase,be careful to avoid the “sales traps” of those franchisors that simply want to part you fromyour money.Do this and you will increase your chances of success!
  8. 8. Canadian Franchise Opportunitieswww.CAfranchiseOpportunities.comPage 8www.CAFranchiseOpportunities.comVisit UsCheck Out Our Free Tools