Researching a Franchise
The decision to invest in a franchise can take seconds to make, but if the wrong one is bought, it can require years to get out of again. The R word famously applies to university essays and health insurance, but it is no less important when approaching the hundreds of franchises that are on offer to a potential franchisee. There are different research methods available to use, and here we explore two of the most effective ones.
The Franchise Show
00000183-7fc1-d8af-afbf-7fc3c7940000 The Franchise Shows are nearly here! Produced and run for more than a decade by the Canadian Franchise Association, these two-day shows are the nation’s only (and consequently largest) franchise-only exhibitions, with locations on both sides of the country bringing together a number of well-known brands. Experienced consultants, franchisors and bankers will be available at Ask the Experts booths to answer questions, and you will be able to attend seminars about relevant franchising topics. The shows’ opening hours are 11am to 5pm, and the price for tickets is $10 for one day, or $15 for both days (a ‘weekend pass’). Tickets are bought at the door, and pre-registering will entitle you to a $2 off coupon.- Toronto – October 19th and 20th. Held in the Toronto Congress Centre, exhibitors will include Anytime Fitness and Meineke Car Care Center.
- Vancouver – November 2nd and 3rd, in the Vancouver Convention Centre. Exhibitors will include FranNet.
- Montréal – January 18th and 19th 2014, in Place Bonaventure.
The Franchise Direct Directory
While the expo is a first-rate chance to research, thanks to its ability to provide one-to-one meetings with leading experts in the franchising industry, it will still be lacking. Over 45 of the franchises featuring on FranchiseDirectCanada.com are not currently making an appearance at these events, and this is too high a number to risk ignoring.
Furthermore, those you meet with at the ‘show’ are trained and experienced salespeople, ready to charm and impress you with what they have to offer. It is too easy to be dazzled by glossy brochures and smooth presentations, and stepping back to take a look at profiles in your own time is a must.
Conclusion
The country’s most proper franchise exhibitions are beginning, backed by none other than the Canadian Franchise Association, and to attend with a notebook, pen and a dozen questions would be a big help when it comes to researching which franchise you are going to pick. However, it is best to combine such trips with online research to prevent any rash decisions from being made.