Benefits of Buying a GOOD Canadian Franchise
Are you looking for a business opportunity? We’re not just talking about any business opportunity here. We’re talking about a proven business opportunity with the potential and demonstrated ability to help you become financially independent and own a successful business. People who want to start their own business and become financially independent will find one or more excellent opportunities among one or more of the best Canadian franchises. Buying into one of the best franchises in Canada provides you with an excellent opportunity to successfully run a business that’s based on a proven system. Be wary though – just because something has been franchised, it doesn’t mean it’s good – it means it’s been duplicated; duplicating weak or mediocre systems will only generate mediocre results!
Here’s why GOOD franchise systems work:
Success Within a Shorter Time Frame
Statistically in Canada, 50% new businesses fail within the first 5 years of existence (2011 Industry Canada statistics). This happens for so many reasons, but chief among those reasons is the lack of a proven system to follow. If you signed up with one of the best franchises in Canada, you can rest assured that your franchisor has already helped many previous franchisees go through this phase and has been able to figure out how to deal with and mitigate problems, as well as how to leverage opportunities.
A GOOD franchisor will have spent years tweaking and fine tuning the business operations to the point of being able to set their franchisees up to achieve superior results. So, anyone who is well-matched to the desired franchisee profile of a franchise system can just take the “template”, replicate the process and get similar results. Therefore, you don’t have to reinvent the wheel and start fresh. With their business format or system in your hands, you can leverage it and become successful within a shorter time.
Access to Excellent Marketing Machinery
In some cases as a franchise owner, you will benefit from the well-oiled marketing machinery that’s paid for by the franchisor. Most, if not all the biggest franchisors have a national marketing and advertising campaigns running at every point in time. If you were to do this yourself, you would have to spend a lot of money. However f you choose to buy a franchise, the only marketing you would need to do is probably on a local scale. You’ll also get access to centralized discounts on your tools and product purchases. Many franchise systems choose to engage in more local marketing strategies that are executed by you, the franchisee. Unlike starting from scratch, the franchisor enables you to pinpoint your desired customer and often provides the optimum messaging to capture their attention… again enabling you to compress the time to desired profitability.
You also get access to the franchisors expertise, experience, and proven business system. If you were to do this on your own, you would have to spend as much as 5-10 years building the business, marketing and promoting the business, establishing its reputation and getting people to trust your brand. But with a GOOD franchise system, these are all part of the system. It’s just left to you to execute their strategies and maintain the perceived standard of their products and services.
Specialized Management Training
Franchise owners are more likely to succeed at running their businesses because they often have access to excellent specialized training offered by the franchisor that’s targeted to very specific aspects of operating your franchise. This management training makes it easier for you to run a tight ship and increases your chances of success. Franchisees also get access to periodic industry updates, training, upgrades and the franchisor’s knowledge and experience. If you compare this starting a business from scratch, there’s little to no support of any kind when you start from zero.
Piggyback on the Franchisor’s Trademark and Brand
If you align yourself with a mature system you get the benefit of a well recognizable franchise in Canada. You are able to leverage the same brand and trademarks. A brand that’s well known for delivering high quality services and excellent products will always attract good patronage and business locally, provided that you can execute the business as designed!