|What is Franchising?
Franchising is a way of distributing products and services. The franchisor (original business owner) grants a licence for the use of his trademark or trade name for a fee. The franchisee (person who buys the franchise) is allowed to use the franchisor’s business name and operating system to set up the business. As a franchisee, you pay the franchisor a certain amount (royalties) from your franchise’s profits. The average or typical royalty percentage in a franchise is 5 to 6 percent of volume, but these fees can range from a small fraction of 1 to 50 percent or more of revenue, depending on the franchise. Normally, the franchisor would draft a franchise agreement with you that includes details about how the franchise will be run.
Starting your own business from scratch can sometimes be overwhelming for first time entrepreneurs. Instead, investing in an already successful franchise concept may be a great choice for your new business venture.
Advantages of owning a franchise:
Statistics show that franchisees stand a much better chance of success than people who start independent businesses; independent businesses stand a 70 to 80 percent chance of NOT surviving the first few critical years while franchisees have an 80 percent chance of surviving (Michael M. Coltman, Franchising in Canada: Pros and Cons, Self-Counsel Press).
Disadvantages of owning a franchise:
Facts about franchising in Canada:
The Franchise industry in Canada represents over $100 billion in sales annually
|If you are thinking about to start your own business in Canada then begin your Canadian visa application process today
As Canadian immigration specialists, ICS is committed to ensuring that you obtain the best Canadian visa or immigration service for your requirements. You can set your application in motion today by submitting our Initial Consultation Form to schedule your consultation with one of our immigration attorneys.After we assess your qualifications, you will be informed if you qualify. If you would qualify to apply for a permanent resident visa as a Business Immigrant, we open your file and proceed with the processing of your application for permanent resident visa.Please note that ICS will not share your personal information with any other third party, any information submitted to us will only be used to assess your visa eligibility.Contact Us