THE RESILIENCE OF FRANCHISING ISSUE
Staying Strong
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As every small business owner knows, owning a business is hard work. Entrepreneurs are renowned for their grit, determination, and persistence—working long days, strategizing about the future, and devoting themselves wholeheartedly to their dream of business ownership.
Franchising means this hard work and dedication pays off. Franchisees are small business owners, but they don’t have to go it alone; as we like to say, they’re in business for themselves, not by themselves. The support, knowledge, and proven systems offered by a franchise brand help franchised small business owners weather all kinds of storms, from the difficulties of start up to the pinch of economic uncertainties, to unprecedented moments like natural disasters.
That’s why franchising is such a resilient business model. As you’ll read in this issue, franchising has stayed strong through the COVID-19 pandemic, economic downturns, and political uncertainties—and has actually grown! Franchising is the 12th largest industry in Canada and is projected to contribute $133 billion to the country’s GDP by 2026. That’s in contrast to the $120 billion projected by 2025, which in reality the industry topped, coming in at $128 billion.
As we reach the end of the year and look forward to 2026, it’s important to celebrate the ways our industry has not just survived but thrived through difficult times. If you’re looking to open your own small business through the power of franchising, you’ll find plenty of inspiration in this, the Resilience Issue!