Are you thinking about starting a new franchise or picking up a new venture? Consider adopting a Canadian franchise, or a franchise that is working to develop its market in Canadian regions. Canada has a lot to offer the eager entrepreneur, with plenty of money-making potential and encouraging trends. Advantage to setting up shop in a province include:
1. Developing Markets:
Canadian markets operate on their own timetable, which allow franchises to capitalize on current trends unique to the Canadian market. Sectors that are oversaturated or underappreciated elsewhere may offer the perfect window of investment in Canada. From wine to home health care, certain types of developing markets are entering strong Canadian growth phases and offering plenty of potential profits for interested investors.
2. Less Competition:
Canadian markets may not have as much competition as your local scene. Moving over to a different province – or up from busy urban centers in the United States – can offer a fresh perspective and help you find plenty of territory that has not yet been invaded by competitors. This lets entrepreneurs quickly establish this business and develop their market share with greater control over their profit margins.
3. Solid Infrastructure:
Canada, much like the United States, has a very solid infrastructure to work with. Unlike developing countries, where the infrastructure varies greatly in reliability, Canada has a full, uniform set of function roads, airlines, trains, and other infrastructure elements. With this structure in place, you can plan your own logistics with certainty and know that supplies or fuel will be delivered when scheduled. This makes the market easier to work if you are considered a foreign expansion but do not want the headaches.
4. Market Familiarity:
Canadian markets offer a certain amount of familiarity for those who are used to Western demographics. It is easy to move into a Canadian market and know what people expect, how they view franchises, and what type of purchasing habits they will show. This does not hold true for other types of international expansion. Sometimes it is better to move to a market that you can understand before trying to tackle a vastly different culture with different types of market behavior.
5. Similar Laws:
Like the infrastructure and the markets, Canadian laws are also very similar to laws in the United States, the UK, and similar areas. Franchise regulation, patent protection, and accounting all share key similarities. There are even similar government agencies to help franchise owners find advice or financing. This helps you succeed in all franchise challenges without wasting too much time studying legal ramifications or hiring legal consultants to untangle unfamiliar laws.
6. Brand Recognition:
Canadian customers are also more likely to recognize popular brands, particularly brands from the nearby United States. Brand recognition is one of the core advantages to buying a franchise – it provides you with a built-in understanding and customer base that can guarantee profits. Canadian markets are very familiar with many of the most popular brand names, which can help you get your business started quickly with the least amount of fuss.
7. Easy Expansion South:
Expanding a Canadian franchise is always a possibility. Fortunately, if you want to hop the border and move a chain over to the United States, you could not ask for an easier transition. The quest for new markets or cities is especially easy with so much potential waiting in the rest of North America – especially if you are willing to move fast.
Daniel Pearson is a professional blogger that shares the latest information on Canadian franchise opportunities. He writes for FranchiseExp.com, where you can find the latest Canadian franchise opportunities online.