Franchisors financial strength
The main firm should have enough money to support its operations as well as the businesses that represent them in the field. Moreover, some franchise opportunities in Canada provide loan services to affiliates who may need the money to stay afloat during trying financial times. Apart from fiscal strength, check on the number of branches that they have countrywide and how franchisees that are already working with them are responding. If the feedback is good then chances are that its a recommendable company and vice versa.
Clean legal history
Ensure that the franchisor has never been sued for malpractice before, companies which avoid court cases demonstrate that they are trustworthy and treat their partners with respect. The parent firm should also be preferably registered to the International Franchise Association or IFA, which is the official regulatory body of franchises both within Canada and internationally. By being part of the organization, franchisors are required to follow strict ethical codes as stipulated by the association.
Nevertheless, finding a good franchisor is just the tip of the iceberg when it comes to the success of your business. Hard work, patience and determination are just as key in this business, there are times when one may experience low customer turnout but that doesnt mean they should close their premises and leave-doing this can make you miss out on money-making opportunities that may present themselves in the future. In conclusion, always try to build good rapport with your clients so that they can find reason to come next time as well.
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