Remember your first job? Whether you served coffee or taught swimming lessons, there’s a strong chance you did it at a franchise. Your boss was able to carve out a slice of business success by licensing the operating systems and putting their own spin on it, but have you ever considered following in their footsteps?
The franchising business model is one of the best ways Canadians can turn their dreams into reality and become successful small business owners, or even expand their franchises into multi-unit management empires. And it’s lucrative! The Canadian franchise industry generated $117 billion of last year’s annual GDP. The average shopper may not be aware of franchising in detail, but they’ve almost certainly interacted with franchises in one way or another.
Franchising Fast Facts:
- Franchising is present in the life of every Canadian: One in 10 is employed, directly or indirectly, by a franchise system.
- The average Canadian interacts with three to five franchise locations every day—from the local coffee shop to an after-school tutoring program.
- Canadian franchising is the second-largest franchise industry in the world, representing $117 billion of the country’s GDP.
In one way or another, your students’ lives are impacted by franchising—whether they choose to go into the franchise business themselves or interact with these businesses in other ways. This handy guidebook provides educators with a compact overview of the need-to-know facts about franchising.
Why is Franchising so Popular?
Whether it’s brand recognition (Did somebody say McDonald’s?), a successful concept, or proprietary products or services, being a part of a franchise system brings advantages that you just don’t get when you start a business from scratch. Franchising works because it offers potential owners a proven concept, while the head office team and franchisor provide support and assistance. So, while franchisees get to own their own businesses, they get to take advantage of fellow owners’ successes, and learn from a network of franchise peers.
What is the CFA?
The Canadian Franchise Association (CFA) is a not-for-profit association representing and supporting the franchise industry. Our mission is to provide educational events and resources, advocate for legal protections for the industry, and host networking opportunities for franchisees, franchisors, and their communities. Along with this guidebook, here are some useful digital resources to help you learn about and introduce franchising to your students.
- Go to FranchiseCanada.Online to catch up on issues of Franchise Canada, our bi-monthly digital publication.
- Browse more than 1,300 franchise opportunities in the Franchise Canada Directory, an annual print and digital publication that includes information about the brands franchising in Canada.
- Stay up to date with franchise industry news through Franchise Canada E-News, an e-newsletter sent to more than 27,000 subscribers twice a month.