Top franchisors convene on Parliament Hill to share the latest statistics on franchising in Canada
TORONTO – April 25, 2018 – Yesterday, the Canadian Franchise Association (CFA) convened on Parliament Hill to raise awareness about Canada’s $96 billion franchise industry during Franchise Awareness Day.
Armed with the latest numbers from the CFA’s Economic Impact Report, more than 75 franchise business leaders from across Canada met with politicians throughout the day to educate them about the franchise sector’s significant contribution to the Canadian economy and job creation.
According to the CFA’s Economic Impact Report:
- Franchises contribute $96 billion per year to Canada’s Gross Domestic Product (GDP), representing 5% of the Canadian economy
- The Canadian franchise industry accounts for 1.5 million full-time equivalent jobs, and 1.8 million total jobs, representing $61 billion in household wages
- Canadian franchises generate a total of $26 billion in tax revenue for the federal and provincial governments
- Based on GDP, the Canadian franchise industry ranks 12th among the largest industry sectors in Canada
The first of its kind in Canada, the Economic Impact Report was published by the CFA in partnership with the Canadian Centre for Economic Analysis (CANCEA), a leading economic research organization.
“The numbers clearly show that franchising is an important economic driver in every province in Canada,” says Lorraine McLachlan, the CFA’s President and CEO. “Through Franchise Awareness Day, we want to ensure government understands the contributions franchising makes to the economy, and recognizes the vital importance of franchising in the lives of Canadians.”
Beyond the numbers, participating franchisors and franchisees also shared their own personal stories of how franchising empowered them to go into business for themselves, but not by themselves.
“Behind these figures are thousands of everyday Canadians who achieved their dreams of business success through franchising,” McLachlan continues. “Franchisees are the new mom-and-pop, and it’s their hard work and entrepreneurial spirit that helps drive the Canadian economy. That’s why it’s so important for franchise leaders to come together and share their stories through events like Franchise Awareness Day.”
To learn more about franchising in Canada, and to download a free preview of the Economic Impact Report, visit cfa.ca/research.
About the Canadian Franchise Association
The Canadian Franchise Association (CFA) helps everyday Canadians realize the dream of building their own business through the power of franchising. CFA advocates on issues that impact this dream on behalf of more than 700 corporate members and over 40,000 franchisees from many of Canada’s best-known and emerging franchise brands. Beyond its role as the voice of the franchise industry, CFA strengthens and develops franchising by delivering best-practice education and creating rewarding connections between Canadians and the opportunities in franchising. Canadian franchises contribute over $96 billion per year to the Canadian economy and create jobs for more than 1.8 million Canadians. Learn more at www.cfa.ca or www.FranchiseCanada.online.
Lisa Raffaele | (647) 837-1265 | firstname.lastname@example.org