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News of the week :
CANADIAN TIRE TO BE AMONG FIRST TO INCLUDE NEW METRICS ON 'SUSTAINABILITY' PROGRESS IN QUARTERLY FINANCIAL REPORTING
* LAUNCHES FIRST SUSTAINABILITY REPORT HIGHLIGHTING TWO YEARS OF
ESTABLISHED LEADERSHIP
TORONTO, Feb. 4 /CNW/ - Canadian Tire Corporation, Limited (CTC, CTC.a) released its first Community and Business Sustainability Report today and announce...
Get more info here ...
LABOUR FORCE SURVEY
January 2010 (Previous release)
Employment increased by 43,000 in January, all in part time, pushing the unemployment rate down 0.1 percentage points to 8.3%. January marks the fourth employment gain in six months.
Employment
Despite the recen...
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DAVOS: YUM! BRANDS IS WFP'S PARTNER OF THE YEAR
Published on 29 January 2010
WFP’s Tent at Davos was packed on Thursday night for the annual dinner-discussion forum with international leaders.
At the start of the evening, WFP Executive Director Josette Sheeran announced WFP’s Partner of ...
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BUSINESS BAROMETER(R) - NATIONAL SMALL BUSINESS CONFIDENCE KICKS-OFF 2010 ON A POSITIVE NOTE
TORONTO, Feb. 3 /CNW/ - Business confidence among Canada's small and medium-sized businesses made up for some lost ground in January, providing further evidence of continuing modest growth in the economy. According to the latest business confidence s...
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EMPLOYEE ENGAGEMENT EARNS FRANCHISES MCDONALD'S® CANADA KUDOS AS ONE OF CANADA'S 50 BEST EMPLOYERS
Chosen for the eighth time in study’s 11-year history; best ranking (17th) since 2002
Toronto, ON (Jan 7, 2010) – Being recognized as an employer of choice doesn’t get old for McDonald’s Canada, it simply gets better.
For the eighth tim...
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THE FOX AND FIDDLE CELEBRATES ITS 20TH ANNIVERSARY WITH 19 GREAT LOCATIONS IN CANADA THE FOX AND FIDDLE CELEBRATING 20 YEARS OF DELICIOUS PUB FARE
The Fox and Fiddle Celebrates its 20th Anniversary with 19 Great
Locations in Canada
The Fox and Fiddle Celebrating 20 Years of Delicious Pub Fare
(January 27, 2009) – The Fox and Fiddle is celebrating its 20th Anniversary this year by launc...
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BOCONCEPT FRANCHISE CALGARY OPENS IN CANADA The grand opening of BoConcept Calgary took place on December 26, 2009 in Canada.
BOCONCEPT
On December 26, 2009 BoConcept Calgary opened its doors for business, joining BoConcept Vancouver as the second brand store in Canada.
Located on 701 11th Avenue SW in Calgary, the store is ideally situated in the area of the city k...
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BREAKFAST GETS BETTER, SIMPLER FOR CANADIANS
Tim Hortons franchises adds English muffin breakfast sandwich to menu; Provides a single stop for Canada's favourite coffee and all hot breakfast sandwiches
OAKVILLE, ON, Jan. 25 /CNW/ - Breakfast just got better and easier for Canadians.
Tim H...
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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.
