Southern Ontario the hottest spot for franchising in North America in 2010
Toronto, Ontario - May 4, 2011 - Southern Ontario was the hottest market for franchising in North America in 2010, according to franchise matchmaking firm, FranNet, whose Toronto office outperformed even larger markets in the United States.
"The Southern Ontario market has continued to be one of North America's hottest franchise markets over the past few years," said Jania Bailey, President, FranNet, at the firm's annual conference. "Our Toronto office, headed by Gary Prenevost, significantly outperformed larger markets in the U.S. in 2010. Prenevost consistently maintains one of the highest client placement rates in the entire North American franchise industry, which is quite an accomplishment."
According to Prenevost, the economic downturn last year actually further accelerated his business as more people became disillusioned with corporate life and were looking for alternatives. He says the average job posting for those over 45 years of age is less than three years and, when they find themselves out of work, they can face lengthy periods of time in transition (on average, one month for every $10,000 of annual income), eroding their savings instead of building wealth for retirement.
"We saw a significant increase in mid and senior-level executives wanting to become fully self-reliant, look at their long-term career path more strategically and deciding to go into business for themselves, and the trend is continuing to strengthen in 2011," says, Gary Prenevost, President and Senior Franchise Consultant, FranNet of Southern Ontario. "Franchise ownership can be a smart alternative with less risk. Good franchising provides a roadmap for the new entrepreneur, guiding him or her with established guidelines as well as providing marketing, sales and management support, while leveraging a proven business model. The adage is 'in business for yourself, not by yourself'."
"But it's also crucial that people find the franchise system that is the right fit for them," adds Prenevost. "That's the key role that we play."
This involves helping people to identify their core skills and interests, exploring what they like to do and what they do well, as well as looking at things they don't enjoy and aren't their core strengths. Prenevost and fellow FranNet consultant Mike Martin have found this to be a proven formula.
"Gary Prenevost and Mike Martin have an incredible ability to really understand their clients' needs and match them to the right businesses," adds Bailey. "This leads to successful businesses that help people to achieve their personal, financial and lifestyle goals."
FranNet, North America's leading and most successful franchise matchmaking firm, provides no-cost guidance, information and support to individuals who are interested in purchasing a franchised business. FranNet consultants specialize in helping their clients find the right franchise through their exclusive matchmaking process. FranNet was named #335 in Inc. Magazine's 500 fastest growing privately held companies in 2010 and has enjoyed its fourth consecutive year of record sales.