Recessions are always a possibility, even when an...
Opening a franchise in Canada requires a lot of planning and decision making. Every brand and each brand location has its own set of quirks and things to contend with, and this can all impact when you are able to first open your doors. Fortunately, you can take a proactive approach to your opening, whether you're new to franchising or a veteran owner.
Consider the following three common factors that could impact your franchise opening and what you can do to avoid being caught off-guard.
Negotiating the lease
There's a reason a franchisor may stay involved in your lease negotiation process: it can be difficult to find a spot that will work for your new business and deal with the landlord. However, since this is your lease, too, you'll want to do research and consider the market in your area and immediate neighborhood. Are there other businesses already operating that are similar to yours? If so, find out how much they are paying in rent. When you do as much real estate research as possible after you've signed your franchise agreement, you'll be more prepared for any snags in this phase of your business development.
The location build-out
There's more to building a franchise location than simply erecting a building. Your new location will need to follow all sorts of rules at various levels, including the provincial level. If you are taking over an existing place, you'll have to consider several things, including whether the space previously served a similar purpose to yours, which may mean a less-intensive overhaul. if this does not apply and your franchise also has specific equipment needs, that can lengthen your opening timeline.
Keep on top of this phase of your business by researching all rules that could apply to your new location and consulting with your franchisor and your franchise attorney.
Hiring and training staff
Finding and training good employees is going to require some planning. First, consider what type of people your business will need. For example, do you need employees who already have a specific set of skills, or do you need candidates with the right personality traits whom you can then train?
Stay on course with hiring and training by learning just what your new employees are going to need to know, and go from there. If, for example, you're hiring someone just for administrative tasks, you'll need to make sure they know their way around your office. If they will be handling food, they'll need training on how to handle food properly and how to avoid contamination.
Opening a new franchise takes time, but when you're on top of things, involve the right people and do your research, you'll set yourself up for the smoothest transition possible.