Loading ...Facts from the Canadian Franchise Market
Back in late May, Franchise Direct launched its sixth international franchise portal, Franchise Direct Canada. A few months in and we’re delighted to be playing a role in matching Canadian entrepreneurs with top business opportunities.
There is no questioning the value of the Canadian franchise market. As we found through many interviews with the franchises represented on the Top 100 Global Franchise list, Canada is often the first destination for franchises considering international expansion. The cultural and business similarities make it quite easy to seamlessly transfer a thriving franchise business to the Great White North.
Interestingly, Paul Segreto has provided some really interesting information on the state of the Canadian franchise market via the Canadian Franchise Association on his FranchisEssentials blog. Here’s a breakdown:
- The Franchise industry in Canada represents over $100 billion in sales annually
- Franchised businesses account for 40% of all retail sales
- There are over 78,000 franchises across Canada
Canadian Franchise Association membership grows at a rate of 10% per year - Franchising directly employs over 1,000,000 people
- Every year, thousands of Canadians are improving their lives by becoming franchisees
- Franchising accounts for $90 billion per year in sales nationally or 10% of Canada’s Gross Domestic Product (GDP)
- Franchising has been reported to account for one out of every five consumer dollars spent in Canada in goods and services
We’ve seen the huge push towards international franchising in America in the last six months. As if you needed any more encouragement, these facts make the Canadian market even more mouth-watering. Learn more about the Canadian franchise industry from the CFA and Canadian readers can find the franchise for them with Franchise Direct Canada.
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When most of the world’s economies are slowly recovering from the global recession, the facts presented by CFA are very positive news. It is good to know that franchising has improved the lives of millions of people. The jobs that it generates is a proven solution to an economoy plagued by a high unemployment rate.
Franchising provides hope especially to aspiring entrepreneurs who want to own their own businesses. It may not guarantee perfect results but the risks can definitely be minimized. I highly encouraged interested franchisees and first-time investors to invest their time in researching, educating and empowering one’s self with a Franchise Guide book.
Canadian franchisors really seem ready for the next push, but not just in franchise development. I’ve seen a recent surge in inquiries from Canadian franchisors looking to bolster up their training, operations and support programs, as well as requesting assistance in franchise marketing and development. It seems our neighbors to the north really do get the whole picture of fortifying the foundation before bringing on new blocks atop the building!