Canadian Franchises: 4 Steps to Finding the Right Franchise

Four Steps to Finding the Right Franchise!
Canadian Franchise Opportunities
www.CAfranchiseOpportunities.com
CANADIAN FRANCHISES
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Starting Your Franchise Search
For many, there is typically a catalyst in life that starts a person on a quest for a
franchise. 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 Canadian
Franchises that is a good fit for you!

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Step 1: Understanding Franchising
Many make the mistake of thinking they understand the franchise business model
because it seems so familiar. This lack of understanding can cause you to overlook
some important details that need to be incorporated into your decision. Here are
some things that are important you understand about franchising:
• When you buy into a franchise, you don’t actually own the business. Instead, you
own 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 model
and you are expected to operate it as it has been defined.
• As with everything, there are advantages and disadvantages of franchising and
you need to understand them fully before signing on the dotted line.
The better you understand Canadian Franchises and the business model, the better
your chances of making a solid decision.

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Step 2: Knowing What A Franchise Offers
To decide if a franchise is a good option for you, you need to understand why
franchising makes sense for some and not for others. A typical franchisee gets into
trouble 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 do
all the driving -- the hard work, decisions & dedication needed to make any
business successful.
• While a franchise can provide operational guidelines, procedures, training and
support, you still have to manage the business and its operations. It doesn’t run by
itself.
• Franchise or not, a business requires a passion for the business, a positive attitude
and a willingness to give it your all.
All those starting and operating successful Canadian franchises will tell it it is no easy
task. It requires careful consideration before you sign on the dotted line.

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Step 3: Taking Inventory of Yourself
One 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 reviews
and talk with colleagues. If you don’t possess what is needed to succeed, better to find out
now.
• 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 you
hope 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 a
good fit for franchising? Download our “Franchise Fit” eBook to assist you in this
analysis.

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Step 4: Selecting a Franchise
Make sure you select a franchise that is right for you, as opposed to the franchisor
selecting you. Understanding what is meant by this statement could help you to avoid
failure. Here are some key points:
• Some low-quality franchisors are only looking for someone with a heartbeat and
the money to purchase the franchise.
• You may have the skills and experience to make a great franchisee in the eyes of a
franchisor, but you need to ensure the franchise fits you personally.
• A high-quality franchisor can provide you with a franchisee success profile - and
they will turn away candidates that are not a good fit for them.
To get additional help in franchise selection, download our Franchise Evaluation
white paper that provides a framework for evaluating franchises.

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Summary
There are many Canadian franchises from which to choose. But you need to go into this
decision with your eyes wide open.
Starting a franchise business or buying a franchise for sale is not the easy path to success
because there is no easy path when it comes to starting a business. Any business is going to
take dedication, a passion for business, a positive attitude, and a willingness to give it all you
have to launch the business.
Take time to truly understand the franchise business model and most importantly, take an
inventory of yourself -- skills, experience, goals and define exactly what you want out of a
franchise 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 from
your money.
Do this and you will increase your chances of success!

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