Untapped Resource

Franchising in Canada has the significant benefit of prior experience. After all, the brand has already shown its value, and the franchisor has built a market presence to maximum reputation and profit. There is already training, marketing and operational tactics in place for your success, and this is likely a major reason you are considering a franchise in the first place.

However, there is another big resource within a franchise you may be overlooking: your fellow franchisees. These franchisees have already opened their doors and have years of collective experience you can tap into once you realize it's there.

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No one is an island

If you open your own business, every mistake and choice you make lands squarely back on you. If you need logistics help, you need to figure that out. Computer issues? You're on your own until you find someone who can help. Need a marketing plan? You'll learn how to create a sound one through trial and error. While solving these problems are a good way to learn new things, they will take your focus away from your main goal of building a strong business.

Handling a start-up operation can be pretty isolating, but when that operation is part of a franchise, you can reach out and network with other owners for help. Their lessons and ideas can help you along a smoother path to profitability. Having a network of business owners in businesses similar to yours offers a wealth of experience and knowledge that you would not be able to obtain on your own. After all, the strength of a system depends on the success of all its franchisees, so they actually have a vested interest in your own success, too.

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Franchisees form a community

One of the major reasons that a franchise is enticing is because it comes with a support system built into it. As noted, your other franchisees want you to succeed, and so does your franchisor. When you grow, the brand becomes stronger for everyone else involved with it.

If you are considering a larger franchisor, they likely will have area managers in place to assist you. Everyone in your region coordinates and makes plans together to work within the local market. This exchange of ideas and support can help you operate in your specific market. Should you go with a smaller franchise, tap into your local franchisee group or create one for the same type of benefits.

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Lean on your fellow franchisees and be prepared to do the same for the newer ones entering your area once you are established. When franchisees are able to work together efficiently, every location will benefit in a variety of ways.