Top franchising trends and tips to getting started
FranchiseCanada Magazine reveals the top trends in franchising in its latest issue.
Based on research from the Canadian Franchise Association, the article entitled Trendsetters highlights beauty supplies, business consultants, and baked goods as budding franchise opportunities.
Despite results showing coffee and doughnuts as an emerging trend and a staple of some Canadians' routines, a 21 percent jump in the health and wellness sector suggests others are concerned with fitness and nutrition.
Lorraine McLachlan, CFA president warns, " [R]egardless of any trend in franchising, it's important to explore every opportunity carefully with the appropriate due diligence and nothing can replace the knowledge that is learned from face-to-face communication."
Entrepreneur magazine seems to echo these thoughts in its January issue which highlights the importance of research before opening a franchise.
According to the article, after identifying an appealing brand, request the franchise disclosure document and review it thoroughly.
The magazine advises to be wary of franchisors that offer additional financial details that are not listed in the document.
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