🕒 3 min read
Another fantastic year for franchising is in the books, and now we’re looking ahead to what the industry has in store for 2019. We’re looking forward to what this New Year will bring and which trends will dominate the franchise industry in 2019!
Global Franchises Coming to Canada
Reputation matters in the franchising industry, and nothing signals a strong reputation like global expansion. In 2019, more international brands, especially those from the United States, will be crossing the border into Canada, and Canadian franchise owners will get the chance to own a reputable global franchise. Recently, Chick-Fil-A, Jersey Mike’s, and Eat the Frog Fitness have announced their plans to move into the country. As more global brands open up around the country, more franchise owners will jump at the chance to own a recognized, international franchise.
Home-Based Franchises
There has been a huge shift in the business world, for both big corporations and small businesses, to allowing employees to work from home. The same is happening in the franchise industry. Canadians find great appeal in the ability to work from home and own and operate their own business from home. Home-based franchises offer plenty of advantages that keep this sector trending. Home-based businesses often have a lower investment cost due to fewer expenses for things like rent and construction. A flexible schedule allows working parents to optimize their family time. And working from home has shown to improve productivity among workers. There are many home-based franchise opportunities in Canada, and there are bound to be more in the coming year.
Niche Food Franchises
Franchises in the competitive food and restaurant industry can set themselves apart by offering a unique, niche dining, from craft beer to rolled ice cream to sushi burritos. Diners are looking for a dining experience rather than an ordinary, everyday restaurant. Look into owning a niche food franchise that will stand out from the crowd, but that isn’t so trendy as to become obsolete when the trend fades. For a niche food franchise that’s here to stay, try a vegan franchise.
Employee to Franchise Owner
For young entrepreneurs looking to enter the world of franchising, a great way to get their leg in the door is by already being employed by the franchise. Many employees are able to work their way up the ranks of a franchise company and show how suited they are to business management and then business ownership. Some franchise systems even have an employee-to-franchisee program to help cultivate this relationship and ease the transition to franchise ownership.
Franchise Resales
What if you could hit the ground running by buying an already established franchise rather than starting the business from scratch? That’s the idea behind franchise resales. The new franchisee benefits from the existing franchise’s goodwill, customer base, and staff, making the transition into business ownership a much smoother process. There are many reasons a franchise location could be up for resale, including the current owner retiring, relocating, or having other personal reasons. The new franchise owner is able to start trading immediately as soon as they buy the resale, making this a smart and increasingly popular option for those looking to get into the business quickly.
Looking Forward
Many different trends will become popular in the franchise industry throughout the year, and Franchise Direct Canada aims to stay up to date on the latest happenings and bring you the top franchise opportunities in the country. Click here to find the right franchise for you.