Top tips for navigating a franchise tradeshow
While a wealth of resources are available online for prospective franchisees looking to find their perfect franchise investment (including the CFA’s directory site, LookforaFranchise.ca), tradeshows remain an amazing opportunity for anyone looking to own their own business through franchising.
A franchise tradeshow is an opportunity for brands who are actively recruiting new franchisees to showcase their franchise system and connect in-person with potential future business owners.
For a prospective franchisee, a tradeshow is a great way to meet face-to-face with various franchisors, find out about brands you may not have considered before, ask specific questions tailored to your own situation, and even take advantage of educational opportunities.
Below, we run through top tips on how to make the most of your time at a franchise tradeshow!
Think ahead
Once you identify a franchise tradeshow in your area, prepare ahead. Pre-register online to save time when you arrive, and take advantage of any early-bird deals.
Before heading out, do your research to find out which brands will be exhibiting. Create a list of brands to visit and prepare some specific questions to ask—this is your chance to learn everything you want to know about each investment opportunity.
Arrive prepared with a sturdy bag to hold the printed information (brochures, fact sheets, business cards, etc.) that you might collect throughout the day. Bring your partner, spouse, or a friend along, as well as anyone else who will be investing or working in the franchise with you. Buying a business is a big decision, so make sure your support system is involved in the process! That said, consider leaving your children with a sitter or relative—you’ll need to spend a fair amount of time talking to exhibitors and focusing on those conversations.
Do your research, but keep an open mind
It’s likely that you won’t be at the point yet where you’ll need to make a decision on what franchise to buy—that decision comes later, after plenty of due diligence. So, take into account that you’ll be attending the show to collect as much information as possible; meeting with potential franchisors is a first step into a detailed research process.
It’s exciting to be surrounded by so many opportunities, but keep in mind that the best franchise fit for you is not only a business that excites you, but one that also caters to your skills and experience, the lifestyle and work-life balance you’re hoping to achieve, and the investment level you can afford. As you navigate the show, look for the CFA Member logo at the booths of brands you’re interested in—this indicates that the franchise system is a member of the Canadian Franchise Association, has signed on to the CFA’s Code of Ethics, and is committed to excellence in franchising.
While you should make sure to talk to everyone on your “must-visit” list, don’t close yourself off from different opportunities! Tradeshows are a great way to expose yourself to brands you may not have heard of or considered.
9 Questions You Should Ask at a Franchise Tradeshow
- How much is the initial investment, and what does it include?
- What kind of fee structure does the franchise have?
- What territories or locations are currently available?
- How does the franchisor select franchisees and award locations?
- What kind of initial training does the franchisor provide to franchisees?
- What ongoing training/support does the franchisor provide to franchisees once the business is open?
- Is the franchise system a member of the Canadian Franchise Association (CFA)?
- Will I be provided with a Franchise Disclosure Document (FDD)?
- What kind of opportunities for growth are available? Is there potential to expand to multiple franchise units in the future?
Take notes
Tradeshows can pass by in a blur. You’ll likely spend a few hours having many conversations with representatives from diverse brands. It can help to jot down a few key points from your conversations to help you keep everything straight. Don’t forget to get a business card or exchange contact information with anyone you have an in-depth conversation with as well.
The beauty of a tradeshow is that it offers a pressure-free way to ask questions of franchisors and explore the different opportunities available to you. So don’t be afraid to ask! Additionally, don’t be shy—every exhibitor is there to provide more information on their franchise system and will be excited to walk you through the opportunities they have.
Learn from the best
Many tradeshows offer learning opportunities like free seminars or roundtables. At the Franchise Canada shows in Toronto and Vancouver, for example, you can expect to hear from franchising experts on all kinds of topics related to the process of buying a franchise, as well as success stories from growing brands and fellow franchisees.
Be sure to check the tradeshow’s website or information guide to find out when these education sessions are happening and plan to attend the ones most relevant to you.
Following up
Don’t lose momentum when the tradeshow ends! The research continues at home, where you can continue to look into companies you’re interested in—fill out applications for those that caught your eye, visit their locations to see operations firsthand, and discuss any potential opportunities with your family and co-investors.
See You at the Show!
Join us at the Franchise Canada Tradeshow this fall, October 25-26 at the Toronto Congress Centre!
Tradeshow Success Story
Sabai Thai Spa franchisee Stella Hoang
Stella Hoang always dreamed of opening her own spa. After five years working in the hospitality and wellness sector, she discovered the perfect way to make that dream come true: through the power of franchising. At a Franchise Canada Show in Vancouver, Stella was introduced to the Sabai Thai Spa concept and found she aligned perfectly with the brand’s core values. Visiting a location afterward, she was even more impressed: “It’s like going to Thailand without a ticket,” she told the Franchise Canada Chats podcast.
Now, Stella has been awarded a Sabai Thai Spa franchise and will be opening her location—the brand’s first franchised location—this fall.
Listen to Stella’s story on the Franchise Canada Chats podcast