Canadian Business Opportunities NEWS OF THE WEEK :
| January 27 2012 MONCTON, N.B. - Imvescor Restaurant Group Inc. (TSX:IRG), the owner of Pizza Delight, Mikes and other franchise brands, had a profit of $494,000 in the fourth quarter or 5.3 cents per share, with $9.6 million of revenue from royalties. ABOUT IMVES... Get more info here ... |
 | January 18 2012 Vend Rite Continues International Expansion January 18, 2012, Toronto, ON – Vend Rite Systems (VRS), the leader in compact and wall mounted vending continues to add to its successful distributor base and is happy to announce the appointment of Mas... Get more info here ... |
 | January 18 2012 The canadian franchise network Pizza Pizza goes for a touchdown among sports fans with launch of Buffalo wings and pizza Super Bowl spurs “super sales” for Canadian pizza leader January 18, 2012 (Toronto) – Pizza Pizza is game ready for o... Get more info here ... |
 | January 17 2012 BeaverTails franchise network just annonce the openning of a new franchise store in Niagara Falls. If you are interested about franchising and having a delicious business, clic on "learn More"... Get more info here ... |
| January 17 2012 - New from the franchise network TIM HORTONS site - Starting Monday, January 23, the names of our hot cup sizes will shift to accommodate our brand new 24oz Extra Large cup. For example, a large Double-Double will become a medium Double-Double.Th... Get more info here ... |
 | January 13 2012 Franchise Chatters - NEW OPPORTUNITIES Seeking franchisees for: Whitehorse, YK Yellowknife, NWT Leduc, AB Campbell River, BC Richmond, BC Sault Ste. Marie, ON Moncton, NB and Brossard, QC. NEW OPPORTUNITIES IN NORTHERN ONTARIO S... Get more info here ... |
 | January 10 2012 Olympic Gold Medalist Joins Menchie’s Canada Expansion Fastest-Growing Self-Serve Frozen Yogurt Chain Signs Deal to Open Three Stores in St John’s making Menchie’s the only coast to coast national chain Toronto, ON–January 10, 2012- Men... Get more info here ... |
 | January 5 2012 The franchise Aussie Pet Mobile Canada Aussie Pet Mobile Continues to Leave Their Mark On Richmond, B.C. RICHMOND, British Columbia (November 15, 2011) – Aussie Pet Mobile Canada, the nation’s largest mobile pet grooming business in the $50-... Get more info here ... |
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5 Tips for Investigating a New Business Opportunity
The success rate of a typical franchise business opportunity is much higher than the success rate of most start-ups. However, you have to investigate the franchise business opportunity you're considering thoroughly to ensure that it is reputable, financially sound, and suitable for you. Here are 5 tips that will help you determine whether a franchise business opportunity is worth your time.
1. Learn as much as possible about the business opportunity and the company behind it.
Before you invest in a franchise business opportunity, learn as much as possible about it through online research. Visit various blogs and franchise information websites that compare and discuss several franchise opportunities. Furthermore, visit online forums where franchisees share their experiences.
In addition to researching the business opportunity itself, get to know the company behind it. Find out what the company's goals are, their experience level, and how many franchises they have. Moreover, determine whether the company is financially secure and if they offer sufficient support to franchisees.
2. Talk to franchisees.
Talk to franchisees, not the staff of company-owned outlets. Visit a few franchisees in your local area in person, so you can talk with them about their experiences and observe how the franchise operates.
Ask the franchisor to provide you with a list containing the contact information of at least 10 previous purchasers in your area. After speaking with several franchisees about the business opportunity, compare their statements with the information that the franchisor has given you regarding potential earnings, franchisee and franchisor responsibilities, start-up and maintenance costs, etc.
3. Compare different opportunities.
Investing in a business opportunity is no different from investing in any business venture. You have to shop around and compare different opportunities to ensure that the one you ultimately select is a good fit.
4. Seek professional advice and legal counsel.
Unless you're a seasoned businessperson, you're better off hiring a lawyer, accountant, and business advisor to help guide your decisions and go over the terms of the contract. Hire an attorney who specializes in franchise law so he or she will be better equipped to evaluate your franchise package. An accountant can determine the complete costs of purchasing and running the franchise in addition to assessing the profits you can potentially make. It's far better to spend the time and money necessary to help you make the right business decisions in the beginning rather than suffer a major loss down the line as a result of selecting the wrong business opportunity.
5. Examine the attitude that the franchisor has towards you.
When you talk with franchisors about their business opportunity, take the time to examine the attitude they have towards you. Do they seem eager to build a long-term relationship with you, or do they seem like they just want to collect the initial fee and run? Avoid working with a franchisor that seems rushed to get you to sign the contract, and take at least 10 days to review the contract and other required documents. Make sure that the contract's terms mirror what you were told in the initial sales pitch.