COVER STORY
The Resilience of Franchising Strong franchise systems provide increased support to withstand the challenges of 2021 BY LAUREN HUNEAULT
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n the wake of the COVID-19 pandemic, more Canadians are looking to battle job uncertainties by taking control of their own employment destinies. Starting your own business may ensure that you direct your own fate, but it still presents its own challenges as you look to navigate the world of small business ownership alone. That’s where franchising comes in. As a franchisee, you’re in business for yourself, but not by yourself, with the support and established systems of the franchise brand behind you. And, while it may seem like the uncertainty of this time is a roadblock for franchising success, experts in the industry suggest that with the right franchise team behind you, 2021 can be the perfect time to make your business ownership dreams come true through franchising. Blueprint for success John Prittie, president and CEO of TWO MEN AND A TRUCK Canada, says franchising offers entrepreneurial Canadians a blueprint for success. “When a prospective franchisee invests in a franchise system, whose product or service has proven to meet the needs or demands of the marketplace, they have positioned themselves for success,” Prittie explains. “It has been welldocumented that the rate of failure of a new franchisee inside a franchise system is significantly reduced versus starting a business as an entrepreneur from scratch.” Franchises find this success through economies of scale, says Ian Walsh, senior vice president of marketing at FranConnect, a provider of franchise management software. “Franchising allows you to scale a business faster and more efficiently. Rather than having to build, open, and operate every location on your own, you bring on partners, called franchisees, who provide the capital, staffing, and day-to-day management and growth of the locally owned business.” Another reason why franchisees find success is through the system that saves them from making time-consuming or costly mistakes. “With a franchise, you immediately deploy your talents and efforts with their systems and simply get down to business without delay,” says Grant Bullington, franchise specialist for Western Canada at FranNet Canada. “Building your own business is going to require extensive planning, prototyping, and a lot of trial and error (mistakes). These mistakes are costly, in terms of both time and money. The franchisor has already made 2.1 million mistakes. By joining their system, you don’t have to repeat any of them!” “The major reason for the high success rate of the franchise business model is the collective knowledge and experience that moves everyone in that franchise concept in a positive and profitable business direction,” adds
“I would consider hitching my wagon to a franchise system that has been deemed an essential service or one whose product or service has catapulted into a must-have, highdemand position.” John Prittie
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