Many dream of being their own boss one day. The ability to manage your own income, direct others and be directly responsible for a business is a huge benefit. It also takes a ton of sweat, dedication and grit to make it work. There’s a reason so many small businesses fail, which is why franchise opportunities look so promising to many.
Be The Boss is an excellent resource for those looking to open their own franchise and has provided a visual for you. In Canada, the top franchises originate from Canada and the US, with 47% and 49% respectively. The oldest Canadian brand started in 1958 while the oldest US brand originated in 1954.
There’s many types of franchises, though food related ones are the most popular and have the most opportunities. Besides food, there’s hotels, real estate, automotive, pet, printing, advertising, cleaning, coffee, financial, moving, education, recreation, business, beauty, retail, home & garden, health and wellness, and fitness franchises. Quite a few to pick from!
Thirty-one percent of franchises ask for 75K to 150K in liquid capital to start while the inital franchise fee for 49% is between 20K to 30K. Twenty-three percent offer direct financing and twenty-eight percent offer a minimum of three week training program.
Read on to find out more in the infographic below.