MISSISSAUGA, Ont. (October 18 , 2017) – As Canada’s economy continues to expand at its fastest rate in
years, a growing number of business owners in Canada and the United States are looking to tap into that
success through franchising.
But franchising your business isn’t as simple as just finding someone who is willing to buy into your company’s
brand and business model. Careful research and detailed planning are crucial to establishing a viable
franchising system that will stand the test of time.
“Business owners can’t rely solely on the hard work and passion they put into getting their companies off the
ground to guide them through franchising. Making the transition from a single enterprise to a viable franchise
system requires a different approach than launching a business from scratch,” says John Goodish, Vice
President of Franchise 360.
With this in mind, Franchise 360 offers the following tips to help businesses on both sides
of the border in all sectors navigate franchising:
Get your docs in order
• Franchising a business requires very specific legal documentation. You will need a franchise
disclosure document containing detailed data to help prospective buyers make informed
decisions, as well as a franchise agreement and an operations manual — essentially a how-to
guide into running the business.
Create a development strategy
• There are various options for franchising. Some businesses sell rights to a certain territory —
such as a city or a province — while others prefer to sell rights to a set number of units. You
need to create a strategy to guide growth for your market. Getting this correct at the beginning
will save time and money down the road.
Revisit your branding
• Before you franchise, it’s wise to take a second look at your branding and make sure it
reflects your expanding business model. An up-to-date image is essential to success. If
you’re a U.S. operation looking to sell franchises in Canada, you’ll also need to establish
Canadian domains for your business.