Businesses have been through a lot in the last few years, from the major disruption of the pandemic to economic uncertainty, and more. Those with strong foundations that can be resilient in changing times are poised for long-term success. For many Canadian business owners, those successful businesses are franchises.
So, what does the future of franchising have in store? Read our annual cover story package on franchise trends. Here, you can explore a macroeconomic outlook from the Royal Bank of Canada (RBC), along with in-depth data for different regions of Canada to learn more about what a slowdown means for the Canadian franchise industry and what we can expect in the coming year. We feature a special Q&A with franchise consulting experts Gary Prenevost and Grant Bullington who provide insights on trends and on key categories to watch and offer advice backed by years of experience. Then we go in-depth into some consumer dining trends as we examine different segments of the population and their behaviour regarding quick service restaurant (QSR) spending.
Franchising continues to be a resilient business model that can adapt to changing consumer behaviour and economic realities to meet the needs of customers and support franchisees. You’ll see examples of this resilience in our tech trends story. It highlights three brands that are using new technology—whether it be video, artificial intelligence (AI), or proprietary platforms—to improve their operations and offerings.
Along with exploring franchising trends, this issue features some inspiring franchisee success stories. We take you through an in-depth look at a day in the life of franchisee Becky McDougall, who owns a Sola Salons franchise along with her husband and two other co-owners.
Dynamic franchisee duo Zach Wilson and Jason Curry share what they learned in their first year running a Puddle Pools franchise. We share the inspiring story of 29-year-old Oxygen Yoga & Fitness franchisee Samantha Collins, who went from working as a fitness instructor at age 16 to co-owner of two locations.
We also invite you to learn about Just Cuts, an Australian hair cutting franchise system making the jump to Canada. Plus, MOLLY MAID CEO Aaron Abrams shares the story of how he went from playing rugby to his role as a C-suite executive in the cleaning business.
This issue also contains helpful resources for those considering franchising, or just starting out on a franchising journey. Legal expert Nikolas Sopow provides a breakdown of the questions you should ask about franchisee training, and franchising experts Eric Martin and Sharon Cupach answer the question, ‘What factors should I consider when exploring franchise ownership?’ And, as we move through the cold months, warm up with an overview of some of the most exciting coffee and dessert franchise opportunities across Canada.
If you’re considering going into business as a franchisee, know that you’re going into business for yourself, but not by yourself, and don’t forget that FranchiseCanada.Online is here to help. The website is your online resource for franchise information, inspiring success stories, educational videos, podcasts, and more. Sign up for Franchise Canada E-News to get franchising updates delivered right to your inbox, and follow us on Facebook, Twitter, Instagram, LinkedIn, and TikTok.
Take some time to browse these stories and opportunities and soak up the vital information in this issue. Joining a franchise lets you tap into shared resources and ongoing support so you can succeed—no matter the economic climate. 2024 could be the year you make your dream of owning your own business a reality, so get excited about the year ahead!