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Franchising in Canada
Franchising is arguably the most common method of building a business in Canada. Canadian consumers are very comfortable with the concept. 45% of all retail dollars are spent at a franchise.
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Franchise Success in Ontario
A Franchise is a business that duplicates itself. The Franchisor owns the business and licenses other people to start up and run the business following the original's blueprint. The business owner who buys into a franchise is called the franchisee. The success rate of a franchise in Canada is 90% and 97% in Ontario.
What is the definition of a Franchisee
A franchisee buys a license to operate a franchise. They sign a contract that states they must follow the original outlet/restaurant's blueprint exactly. They must follow the rules of the Franchisor, pay a royalty rate, marketing fees, and franchise fees. The license is usually 10 years with an option to renew for 5 years, twice. This means the license is good for 20 years.
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