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How to Start a Business or make Investment in Canada
1. How to Start a Business or make Investment in Canada
Before starting a new business, you need to do lots of research work,
develop an innovative idea, craft the business plan, name and register
your business, find financial support etc. whereas buying a franchisee
or investing into a business needs a bit of research work, with very little
finance and risk. The only thing that depends on is whether you are
investing into or buying a right franchisee.
It’s always affordable to invest or buy a franchise instead of starting
from scratch to start up a new business in Canada.
Find a business which is up for sale. Ensure whether the business
opportunity is genuine or not because it might happen to be
2. misleading. It’s always recommendable to do your due diligence ahead
of taking a final decision.
Identify which business sector is suitable for you whether a franchise or
independent business which depends as per the amount of funds
available with you.
If it’s a franchise business, ensure its track record up till now. By owning
a franchise, you get to run the business with less control over the
operations part compared to having an independent business.
Moreover, you will be required to pay a portion of revenue earnings to
the parent company as well.
If you intend to own an independent business, then you get to control
the business operations along with the whole responsibility of running
the business. Moreover, you won’t be sharing the revenue earnings
with anyone.
Before taking a final decision, evaluate the business venture you are
planning to buy or invest in. While evaluating the business, keep few
3. things in criteria like the location/space, whether it’s dealing in online
business, target market, products/services etc.
As a buyer, now it’s time to think about the finance. You need to
evaluate whether you can afford to buy the business and how you can
negotiate with the owners. You need to determine the value of the
business based on its assets, building, location etc.
Before getting into a contract, you can seek for review by talking to any
of the clients or banks who are dealing with the same business.
Take your time and evaluate all the information provided to you, its
reputation, return on investment, talk with the suppliers, clients etc.
You can also seek for expert advice or take the help of some accredited
professional consultants in evaluating and clarifying your doubts ahead
of making a final call on the business deal.