George Cohon, renowned businessman and founder of...
When looking into Canadian franchising, you’ve probably come across of a lot of “pros and cons” discussions. Many of these naturally focus on the hard numbers, like the financial return and royalty rates, alongside other dry areas.
Looking at both the upsides and downsides of the bottom line and what impacts it is the smart way to go, but it can get tiring at times. For a little extra perspective, check out the following pros of franchising you may not have read about yet.
Local community support and engagement
One hidden franchising joy involves becoming part of the community. Each business in a city, town or village adds to the character of that area, and you get to help decide what that character is by your very presence.
Over time, your franchise may become part of the overall identity of the area. It is fairly common for franchises to get involved in the local community at many levels, including event promotion, fundraising and sports team sponsorship. This helps get the brand out there and foster loyalty from customers and clients, and you’re also contributing in a meaningful way in the bargain.
It is really up to you to decide how invested your franchise is in the community supporting it, but note that the deeper you go, the more rewarding it is. If you are particularly interested in community involvement, make sure to check out the franchisor’s programs and support of community-based initiatives when you’re researching available opportunities.
The ability to “cruise control” operations
As you’ve probably already read many times, running a Canada franchise does mean hard work, dedication and commitment. However, it offers the benefit of flexibility after you’ve got everything set up and running smoothly.
Once you’ve got fully trained, reliable employees, solid managers and all your emergency communication lines established, you should get to enjoy the luxury of stepping away sometimes. Maybe you’ll leave early to get a head start on a long weekend or get in some rounds of golf during a longer lunch break. While the business won’t run itself, you should be able to set operations to cruise control on occasion, which is something you can’t do with the traditional nine-to-five job.
The fun of bookkeeping
Crunching the numbers isn’t the most enjoyable task in the world on the surface, but there is some joy in seeing your numbers, profits and money grow.
Overall, franchising in Canada has loads to offer in return for your sacrifices, dedication and hard work. Reap these lesser-known benefits and more by investing in a franchise business of your own.