TORONTO – On August 1, 2025, Elite Franchise Canada has proudly launched the second annual Elite Franchise 100 (EF100) league table, now recognizing the best and brightest franchises across Canada. Originally founded in the UK in 2017, this prestigious ranking now celebrates Canadian franchises that demonstrate excellence in growth, community impact, and innovation.

Ahead of the launch, Elite Franchise hosted a pre-entry virtual session on July 17, 2025 for franchisors, offering valuable insights into how to successfully submit for the EF100. The on-demand recording is now available, to view click here featuring industry experts, as well as esteemed EF100 judges, notable faces in the Canadian franchise landscape who shared their top tips for a successful submission.

Scott English, Global Brand Director for Elite Franchise, shared his excitement about the Canadian expansion, saying, “Bringing the EF100 to Canada was a major milestone for us, and we are thrilled to expand and continue to showcase the incredible achievements of Canadian franchisors. The EF100 not only celebrates their hard work and innovation but also highlights their positive impact on the communities they serve, and the economy.”

The 2026 EF100 has introduced two new category awards, bringing the total to 12 and including the highly coveted People’s Choice Award. New this year, the Highest Entry Award celebrating new systems to the EF100, as well as Rising Star of the Year, awarded to the system that moved highest up on the rankings from the year prior.

“The EF100 represents the pinnacle of franchising excellence,” English continued. “We are eager to recognize these trailblazers and forward-looking leaders who set the standard for success and innovation within the franchise industry, as well as offer an opportunity for franchise systems of all sizes the chance to be acknowledged and celebrated.”

The jury panel for this year’s EF100 in Canada includes distinguished and recognizable members of the franchise community, including Amy Delisle, Managing Partner at Keyser Mason Ball, LLP; Angelee Brown, Founder & CEO of FranOvation; Brian Bazely, Founder & Operating Director, Bazely Consulting; Gregory M. Prekupec, Corporate and Franchising Lawyer, Dipchand LLP; Larry M. Weinberg, Partner, Cassel’s Brock & Blackwell LLP, Travis Tinning, Chief Development Officer at Franchise GrowthLab. For a full list of judges, please click here.

Alongside earning a place in the EF100, participants will be invited to a black-tie awards ceremony in 2026, where they will have the opportunity to win prestigious awards such as Sustainable Business of the Year, Innovation of the Year, Community Builder of the Year, and Diversity & Inclusion of the Year. “These awards are a chance to celebrate the exceptional achievements of franchisors and their marketing innovation, contributions to the franchise community, and commitment to inclusivity,” added Scott English.

Key Dates for the EF100:

Entries open: August 1, 2025

Entries close: September 30, 2025

Finalist ranking announced: January 30, 2026

Additional Award finalists announced: February 6, 2026 

EF100 Celebration & Awards Evening: March, 2026 at Toronto’s iconic The Carlu

For more information on the EF100, including submission guidelines and the full list of judges, please visit the official Elite Franchise 100 page.

Media Contact:
Lisa Raffaele
lisa@bubblegumcanada.com

647-896-0743
About Elite Franchise Top 100:

The Elite Franchise Top 100 (EF100) is an annual league table that celebrates the best of Canada’s franchisors. It was established in the UK in 2017 and has since become a prestigious event in the UK franchise industry calendar. 2025 marked the first year the EF100 has launched in Canada. The EF100 recognizes excellence, innovation, and impact in franchising, and entries are judged by a panel of industry professionals. 

The post Celebrating Excellence in Canadian Franchising appeared first on Business Exchange Blog.

Time sure does fly by when you are having fun. Today, a well-established Canadian brand is celebrating their 25th Anniversary, an impressive milestone worth celebrating. Booster Juice first opened shop in Sherwood Park, Alberta back on November 13th, 1999. Since then, they have built a reputation on providing customers with delicious, feel-good smoothies and food options with top-notch customer service. Today, Canada’s original juice and smoothie bar is successfully operating with more than 450 locations from coast to coast. This type of growth and longevity is rare among Quick Service Restaurants like Booster Juice, something we, as Canadians, are happy to celebrate. 

“I really haven’t reflected on the magnitude of today’s event until now when it sunk in that it’s a big milestone, and it’s been a lot of fun and has changed many people’s lives positively” said Booster Juice President and CEO, Dale Wishewan. “I’m incredibly thankful of our amazing customers, Franchise Partners, and my corporate and store staff who I have the privilege to work alongside. This type of success isn’t possible without being surrounded by amazing people. I am also thankful of my family who have been so supportive during this wild journey.” 

Born and raised in Waskatenau, Alberta, Dale Wishewan has always been driven to pursue and achieve success. Possessing a lifelong passion for sports and fitness, he attended Portland State University on a baseball scholarship. While travelling throughout the United States, he noticed the popularity of juice and smoothie bars, and quickly realized there was an opportunity in the crowded Canadian fast-food market to provide a healthier alternative to consumers with an active lifestyle. Making his own protein concoctions for years, and with his interest in health and wellness, he made it a goal to bring fresh and healthy food to the Canadian market. The hard work began with his own home kitchen serving as the testing ground for one smoothie creation after another – including some of the most popular smoothies on their current menu! 

When the first store opened in Sherwood Park, it was a new concept to Canada. November was not the ideal time either going into the dead of a Canadian winter selling cold beverages. Co-workers, neighbours, and friends thought Dale was crazy to embark on something so foreign to Canadians, but he was determined. As it turned out, people were ready for a healthy fast-food alternative, and there was nothing else like Booster Juice in the market. 

Things moved quickly after that. By the end of year one, fifteen locations were open and in year two, another thirty-five more locations were added. This was such an achievement that it is still a Canadian Franchise Record for opening 50 stores in two years from inception. 

When others in the Food Service Industry have asked how he was able to open 50 stores in two years, Dale’s reply is always the same, “I didn’t know in the first year whether 5 stores were typical, or 25, and everything came naturally from a project management side. The next thing you know we had 50 stores.” 

Now, after 25 years, they are still blending up incredibly delicious smoothies, delivering convenient wraps, paninis, rolling up energizing Booster Balls, and freshly preparing nutritious shots and beverages. 

The post Booster Juice Celebrates 25th Anniversary appeared first on Business Exchange Blog.

BizSold is excited to announce the launch of its brand-new Franchise Directory, a comprehensive resource featuring hundreds of top franchise brands. This all-in-one guide is designed to provide prospective franchise owners with the information they need to make informed decisions about franchise ownership.

Available at over 40 franchise shows across Canada and the United States, the directory offers easy access to a wide range of franchise opportunities in various industries. The magazine is also linked to an online directory, allowing users to connect with franchisors in real time via QR code. Finding franchise information has never been easier!

Pamela Labelle, President and CEO of BizSold, shared her enthusiasm for the new directory: “We’re always looking for innovative ways to connect franchisors and potential buyers. This new directory is our next step in fostering these connections and making franchise ownership dreams a reality.”

Click here to view the new online Franchise Directory.

Franchisors interested in advertising in the directory should act fast as limited spots are available. Don’t miss the chance to be featured in this essential resource that will be distributed at 40+ franchise events to an audience of over 150,000 potential buyers.

For more information on advertising or to reserve your spot, call us toll-free at 1-877-337-1188.

The post Introducing BizSold’s New Franchise Directory appeared first on Business Exchange Blog.

About this event:

Are you thinking about buying a business? Looking for businesses for sale? Don’t know where to begin? Attend the Business Exchange Virtual Event and in 1.5 hours you will learn the ins and outs of buying a business in Canada and learn where to find a business for sale in Canada.

On July 20th learn from our expert panel on where to find businesses for sale, how to get business financing, legal and financial considerations, the benefits of using a business broker, and is franchising right for you.

If you are serious about getting into business, you won’t want to miss this event.

📅 Date: Wednesday, July 20, 2022

⌚ Time: 12:00 PM – 1:30 PM.

🎦 Event Type: Virtual Event. 

🎫 Admission: FREE to attend. Please make sure to register to get the access pass.

Reasons to attend?

• Avoid costly mistakes when buying a business or franchise
• Learn about the due diligence process
• Free legal advice that you need before starting a business
• Tips on structuring your business to reduce your taxes
• Learn about the business financing options available in Canada
• Benefits of using a business broker and realtor for the buying process
• Where to find your next business opportunity

Meet Our Speakers

🎤 Pamela Labelle – Business Exchange, CEO & President

Topic: Where You Can Find Businesses for Sale

🎤 Armond Azoomanian – Homelife/Response Realty Inc ., Broker

Topic: Benefits of Using a Business Broker to Buy a Business

🎤 Tyril Froese – MNP, CPA, Partner, Professional and Private Enterprise

Topic: Financials of Buying a Business

🎤 Frank Robinson – Cassels Brock & Blackwell LLP, Business Lawyer

Topic: Legal Aspects of Buying a Business or Franchise

🎤 Shawn Allen – Matrix Mortgage, Principal Owner

Topic: Getting Financing to Buy a Businesses

🎤 Ryan Hillis – Meltwich Hospitality Group Inc, VP of Revenue

Topic: Benefits of Buying a Franchise Business

These events always fill up fast so don’t wait!

Sign-up today: https://thebizex.com/blog/buy-business-canada

The session will be delivered via Zoom and full instructions will be provided by email.

The post Learn How To Buy A Business In Canada! Free Webinar Event appeared first on Business Exchange Blog.

STEP #1 – Deciding to Sell Your Business

Making the decision to sell your business is the first step in a series of processes to close the deal. Although it may seem simple, remaining confident in your choice is very important and will help solidify your motivations for pursuing an exit strategy. The most common question prospective buyers ask is: Why are you selling your business?

Knowing the answers will give you determination and help you in dealing with inquiries from prospective buyers.

Avoiding Seller’s Remorse: What’s your Why?

Your “why” is what will motivate you to create a strong and determined exit strategy. When deciding to sell your business, weigh out the pros and cons of selling your business and seriously consider your reasons and motivations. Staying confident in your decision will help motivate you to plan and execute a purposeful exit strategy.

Common Reasons Why Business Owners Decide to Sell: 

• RETIREMENT: Leaving the workplace behind to have a comfortable retirement.
• NEW OPPORTUNITIES: Deciding to try a new business venture or change industries.
• PEAK OF PROFITABILITY: Selling due to an upcoming decline in business.
• HEALTH & STRESS: Facing health challenges or feeling burnt out from work.
• DIVERSIFYING: Looking to invest and expand business portfolio.

Motivations & Approaches

Once you have come to terms with your “why”, it is time to start considering your selling motivations. Ask yourself:

• Are you willing to still be involved with your business post-sale?
• Are you looking to leave immediately after the sale?
• Are you looking to secure the highest possible price?
• What compromises are you willing to make?

Think about the most agreeable terms and conditions that benefit yourself, when selling your business. All of these questions need to be factored in when considering who will be buying your business. Try to align your financial and personal motivations with who you are considering as a prospective buyer.

Prospective buyers include:

Existing partners

Competitors

Outside individuals

Family members

Employees

Buyer Benefits 

Existing Partner – immediate sale & payoff, immediate departure, little disruption to clients/staff, may require ongoing involvement

Individual – immediate sale & payoff, strong selling price, no ongoing involvement required

B2B – strong selling price, immediate payoff, sale terms may require ongoing involvement

Goals and Objectives for your Exit Strategy

Based on your motivations and sales approach, develop goal statements and objectives for your exit strategy. Questions to consider:

• What are my motivations for selling?
• Who am I willing to sell my business to?
• How long are you willing to wait for a sale?
• What are my post-sale objectives for me and my business?

Develop a Goal Statement Using the Following Formula

Financial Objectives + Ideal Buyer + Time Frame + Post-Sale Objectives = Exit Strategy Goals

For example, a goal statement and objective for an exit strategy can look like this:

“I intend to sell my business for the highest possible price to an individual that has the financial and managerial capability to run my business. I would like to sell my business immediately within 6 months and have no involvement post-sale. I prefer to sell my business to a buyer that will retain employees and make no significant alterations to the business model.”

Each goal statement will vary depending on what is important for your specific exit strategy. Compromises to your goals and objectives may occur along the way but this exercise helps to generate a guideline to clearly define what you are expecting in a business sale.

STEP #2 – Preparing to Sell Your Business

Assessing The Situation

Before listing your business for sale, conduct an assessment to identify the strengths and weaknesses of your business and strive to amend any weaknesses to make your business more attractive.

Create a list of legal, financial and operational conditions. From there, assess the quality of these conditions and see where your business needs improvement.

A well-rounded business is more likely to be successful in attracting prospective buyers. Refer to the table below for your business assessment checklist:

Execute an Improvement Plan

Based on your business assessment, create and execute an improvement plan that will strengthen your business before sale.Consider the necessary steps required to improve your business and set a timeline for these improvements and invest in the resources.

Depending on the size of your business, on average it takes about 3 – 12 months to sell a business. This process includes preparing documentation, marketing your business, finding the right buyer and closing the sale.

Take time to improve your business because buyers will be assessing it from various perspectives such as legal, financial and operational. By executing an improvement plan you will create a strong vantage point for your negotiations.

As you strengthen your business for presentation to buyers, it is advised to keep your sale plans as quiet as possible. You should only share your sale intentions with staff members and consultants when necessary and should be followed with a non-disclosure agreement.

The reason why you want to keep your sale intentions quiet is because you risk creating uncertainty within the business, employees, clients, suppliers, etc. This uncertainty can devalue your business, while you try to improve and increase its worth.

Tips for an Effective Improvement Plan

Grow Your Profits
If you are planning on selling your business, it is wise to grow your profits as much as possible because your business worth is a multiple of its profit. Small businesses average about 2-3 times profit. Medium businesses are 3-5 times profit and large businesses can expect up to 5-10 times profit. The higher your profits, the more your is business worth.
Collect Your Documentation
Non-disclosure agreements, business plans, marketing plans, revenue/profit projections, financial statements (past 2-3 years), tax returns, leases, loan agreements, inventory, client contracts, insurance policies, product/service prices etc that are relevant to your business. Prospective buyers and advisors will be looking for this kind of information, so while you are executing your improvement plan, start collecting these documents to help prepare you for the sale.
Time is Money
Consider the amount of effort it takes to operate your business and also go through the business sale process. Are you prepared to continue operating, while actively looking to sell? Depending on your exit strategy goals, consider getting help from advisors.

Getting an Appraisal

After implementing an improvement plan, you will then want to determine the value of your business to make sure you don’t price it too high or too low. Find a business appraiser to provide a valuation of your business. You can get a professional valuation from local accounting firms, investment banking firms and business brokers.

Appraisers require formal documentation for the past 3-5 years such as: Business Plans, Tax Returns, Financial Projections, Legal Documents, Leases, Assets, Contracts, Agreements, Income Statements, etc. For best practice, make sure that the appraiser performing your valuation has access to the most current data regarding business transactions in your industry.

Finding the Right Advisors

When preparing your business for sale, it is important to assemble a strong team of advisors to help you navigate the sale process.

Advisors for selling a business include: business appraisers, accountants, lawyers, consultants and business brokers.

Every business sale requires a team of advisors, however the team members depend on the complexity of your business, your abilities and experience, as well as the amount of energy you are willing to devote to the sale process.

• BUSINESS APPRAISERS – Provides business valuation and determines reasonable selling prices.
• LAWYERS – Provides legal assistance during negotiations & necessary paperwork for the close.
• ACCOUNTANTS – Prepares financial documents necessary for business appraisals and prospective buyers.
• BUSINESS BROKERS – Assists in all stages of the purchase and sale of your business.

As a private seller, you would be responsible for all facets of the business selling process. Your team of advisors would consist of accountants, business appraisers and lawyers.

Selling your business privately allows you to save money. But operating a business and the selling process is a huge endeavor that requires a lot of time and energy.

Consider working with an experienced business broker because they manage the selling process and can connect you with existing potential buyers.

Advantages of Using a Business Broker

Industry Knowledge
Choose a broker that has experience in selling businesses in your industry. Every industry has a unique selling process, and by leveraging an experienced business broker you will accelerate the selling process. For instance, a business broker that sells dry cleaning businesses, may not know how to sell a restaurant with liquor licensing.
Marketing
Experienced business brokers have the knowledge in advertising and marketing your specific kind of business. Brokers can leverage different marketing channels that will yield the optimal volume of prospective buyers for you. Professional brokers should be able to advertise your business effectively and screen out the buyers for the business owner.
Time
There are many advisors involved in selling a business. Business brokers can save you time by coordinating with all the respective parties. They have experience dealing with appraisers, lawyers, accountants and buyers. While they take care of the business selling process, you can focus on improving your business to get the highest valuation possible.
Negotiation Power
Brokers are skilled negotiators educated on negotiating prices, terms, conditions and other aspects of the sale. Their job is to bring buyers, sellers and possible third parties, like landlords, together by mediating the transaction.
Protection
Business brokers are trained in legislation and the necessary paperwork in selling a business. Brokers will request the disclosure of a prospective buyer’s finances. This helps protect the seller by reducing the risk of prospective buyers defaulting on their finances. An experienced business broker will qualify the right buyers, which significantly reduces the chances of a business dealing falling apart.
Closing Fee
Business brokers charge a percentage of the sales price. This is called a success fee, which is based on a percentage of the closing price for your business sale. Although you have to pay the broker a commission, this is an incentive for them to sell your business as quickly and for the highest price possible.

Selling a Franchise

Due to the corporate system of a franchise, you have to go through the franchisor in order to sell your franchise business. Approach your franchisor and notify them of your intent to sell. Franchisors are accustomed to their franchisees exiting at some point.

Find out what assistance they can provide in the selling process, and if they are able to help you with a resale or transfer. The process varies significantly depending on what kind of franchise you own.

What are the Transfer Fees?

Check your franchise agreement for transfer fees. Some franchisors do not charge a transfer fee; others may charge transfer fees between $1,000 and $30,000.

What qualifications do Buyers Need?

Your franchisor must approve the buyer before you can sell your business. Qualifications usually relate to credit score, net worth and/or experience.

Rules of Thumb for Valuing a Franchise

Franchises normally share the basic rules of thumb in determining the sales price — i.e., what multiples of your gross revenue or cash flow you may be able sell your franchise for.

Will the Head Office Help Me Sell

Some Franchisors will take over the entire process and other franchisors do not want any involvement with the resale other than to approve the new franchisee. 

STEP #3 – Marketing Your Business for Sale

Confidentiality

In the business selling process, confidentiality is generally needed in order to reach your exit strategy goals. Giving away too much information can be detrimental in a number of ways:

Customers, suppliers and employees may become hesitant when a business is for sale. This can disrupt your current operations and therefore weaken your business valuation.

Prospective buyers may become hesitant about purchasing a business if they feel that too much sensitive information has been divulged to others.

Marketing with Confidentiality

Consider advertising by using blind ads and listings. Don’t share your business name until you’ve qualified prospective buyers and obtained their confidentiality agreements.

For example: PROFITABLE CONVENIENCE STORE FOR SALE GREAT LOCATION & ESTABLISHED CLIENTÈLE

Qualified buyers expect to be screened thoroughly before having sensitive information shared with them. Qualified buyers want to know that the business they are buying is carefully protected in terms of sensitive information.

Keep the conversation going and have patience through the business selling process. There may be a lot of back and forth with your prospective buyer, but make sure to release sensitive information only when you deem fit.

Give allowance for buyers to do their due diligence, as it can take them on average 30 – 90 days before making an offer. Continue exploring different prospects and always follow up.

STEP #4 – Negotiating with Buyers

Buyers want to acquire companies at the lowest possible price with the most favorable terms, while business owners aim to reap the rewards by maximizing the price and arranging for optimal seller terms. Despite the tension of these opposing goals, buyers and sellers share the same goal: to close the deal.

Tips on Negotiating with Buyers

• Request a Letter of Intent

Include a proposed purchase price, terms, conditions and warranties. This establishes a general framework for your negotiations on a final sale agreement.

• Consult with your Sale Advisors

Consult with your legal and accounting advisors to ensure that the sales agreement offers you the greatest financial benefit at the lowest tax liability.

• Never Settle for Just One Buyer

It is good to have a couple of prospective buyers so that you can start a bidding war, or just in case one of them falters.

• Have a Walk-Away Number ­­

This is the lowest amount you are willing to sell for. Crunch the numbers and do not be afraid to walk away if the buyer offers less. Sticking to your walk-away number can ensure that you are comfortable with the final deal.

• Cooperate with Due Diligence

Keep in contact with your buyer and create a plan for the due diligence process. Identify qualifying steps where sensitive information should become available.

• Ask Questions of Your Buyer ­­­

As a seller, do your due diligence and ask questions about their financial situation.

• Prepare Agreements in Writing

Potential buyers should sign a nondisclosure agreement to protect your business information.

STEP# 5 – Closing The Sale

After closing the sale, there is a transition period which typically involves a period of cooperation where the seller assists the buyer in transitioning the business. This typically includes introducing new owner to key clients, transitioning the financing and accounting, and answering questions on how to operate the business optimally.

About The Business Exchange

Established in 1998, The Business Exchange has over 20 years of experience specializing in lead generation in the franchise and business opportunity industry, in print and online.

We are a full-service advertising agency that connects business sellers to prospective buyers. Call us today at 1-877-337-1188 to learn more about our Businesses for Sale listings and Request a Quote!

The post How to Get The Most Money for Your Business appeared first on Business Exchange Blog.

Franchise Training Programs

Congratulations! You have been granted the right to own a franchise. One of the first things that you will be doing as a new franchisee is to begin the training process. The franchisor’s training program is the foundation of a successful operation and is usually mandatory for the franchisee. Successful franchising is all about consistency after all. The level of support and training should encompass all aspects of running the franchise business. The type of training, duration of the training and many other factors will vary depending on the industry and brand.

Here are some typical examples of the type of training you should receive.

• Initial site selection & buildout
• Operating standards and procedures
• Technical operations for providing the services or product
• Sales and merchandising, brand standards training
• Recruitment, training, management, and retention of employees
• Marketing, advertising, and public relations.
• Managing and controlling finances
• Business administration working with approved suppliers
• Operating the point-of-sale (POS) system

It’s important to consider that there will be ongoing training provided as well as the initial training. Ongoing training is very important, as business processes, products, expansion, and other factors may occur when operating your franchise. 

Franchise Operation Manuals

A franchise’s operation manuals define and provide all of the details of the proven business model to the franchisee. Depending on how big the franchise is, there may be a series of manuals.

Below are some typical examples of what an operation manual will cover:

• An overview of the company and its mission statement, vision, and values
• Clear roles and expectations for the franchisee and franchisor
• Service procedures – for example, recipes for restaurants
• How to receive and rotate stock
• Opening and closing procedures
• Detailed job descriptions for staff
• How to hire, train and lead staff
• Detailed job descriptions
• Administration, accounting and reporting requirements
• Supplier contracts and purchasing procedures
• Proper use of trademarks and branding procedures
• List of contacts

Franchise Operation Manuals

A franchise’s operation manuals define and provide all of the details of the proven business model to the franchisee. Depending on how big the franchise is, there may be a series of manuals.

Below are some typical examples of what an operation manual will cover

• An overview of the company and its mission statement, vision, and values
• Clear roles and expectations for the franchisee and franchisor
• Service procedures – for example, recipes for restaurants
• How to receive and rotate stock
• Opening and closing procedures
• Detailed job descriptions for staff
• How to hire, train and lead staff
• Detailed job descriptions
• Administration, accounting and reporting requirements
• Supplier contracts and purchasing procedures
• Proper use of trademarks and branding procedures
• List of contacts

Franchise Advisory Councils

A FAC (franchise advisory council) is a group of established franchisees who meet with the executives of the franchise. The purpose of having a FAC, is to communicate important concerns, opportunities and recommend ways to improve the whole franchise experience. Franchise Advisory Councils are important for the purpose of improving the system-wide franchise process.

Other Support

As mentioned earlier, the type of support the franchisee receives will differ between industries and brands. The main goal when developing a franchise system for the franchisee is to ensure that the franchisee will operate their franchise as successful as possible.

Typical types of support include:

• Annual reviews and audits
• Conferences and regional meetings
• Business planning sessions
• Online discussion forums
• Business coaching calls
• Evolving customer relationship management software
• Centralized call centre
• Shared brand advertising management Website development and maintenance
• Research and development

Questions You Should Ask

Now that you have an overview of the type of support your franchisor should be providing you with, here are some questions to consider before officially starting your franchise.

1. What happens if the franchisor doesn’t provide any of the items listed above?
2. What is the franchising fee?
3. Where are the franchise locations?
4. Does the franchisor provide field support?
5. Are we protected with real estate territorial protection?
6. What happens if training is never completed or initiated?
7. Is there an adequate amount of support and training provided for me to run my business successfully?
8. Is there ongoing support provided?

Visit Business Exchange for 1000s of Franchise Opportunities 

The post Franchise Support: Things to consider before buying a franchise appeared first on Business Exchange Blog.

How to Sell a Franchise

Be Your Own Consultant

You should be your own salesperson before hiring someone else to do the job for the following reasons:

• It allows the franchisor to learn firsthand the ins and outs of selling a franchise and all the processes and procedures it takes for them to sell a franchise, pro tip: do your due diligence when you are studying on how to sell your business
• It allows the franchisor to keep costs of hiring a business broker or franchise broker to a minimum
• The franchisor will be involved in choosing and working with potential franchisees, as a result, their relationship will be positive and strong
• In adopting a DIY strategy, franchisors don’t need to spend time interviewing and hiring staff

Hire a Franchise Consultant

You tried to franchise your business and failed, the next logical step is to hire someone who has the experience of selling an existing franchise brand for you. Franchise salesperson is someone you can employ that will do most of the work for you. They have the knowledge and the expertise to connect franchisors with the prospective franchisees and prospective buyers.

Some of the primary benefits associated with hiring a franchise salesperson are:

• They’re likely to be more productive than the DIY approach
• You have total control of how you want to market your franchise and how you want to direct the procedures
• Commissions paid to a salesperson is lower than commissions to an outsourced salesperson

Outsourcing

Nowadays, many franchisors rely heavily on outsourcing an organization known as the Franchise Sales Outsourcing (FSO). The FSO will handle almost every aspect of the franchise sales process: marketing input, initial lead handling, database input, material distribution, and trade show management.

Many business owners hire FSO because of the following advantages:

• FSOs can alleviate a franchisor’s time to focus on existing operations and the success of franchiseesUnlike a franchise salesperson, they don’t need training
• They help franchisors avoid all start-up costs, eliminating the necessity of starting an internal sales team
• Allow for experienced sales professionals join their team, without having to quit their full-time job
• Low turnover rate
• FSOs can scale franchise sales as they have the incremental staff to take on greater sales commitments
• Lower fixed costs

Find an Experienced and Resourceful Company you can Trust

Entrust a company that has multiple platforms to help you find buyers. The Business Exchange publishes free publications on listing your franchises for sale, and we have an online platform that promotes your listing through various channels. In fact, we are Canada’s most active marketplace reaching 6.6 million buyers last year and we are continuously growing. Not only do we specialize in the Canadian franchise business but we also help potential buyers find their next business opportunity!

A Checklist for Franchising your Business

You have a successful business and now you’ve hit that point of ultimate scale and speed of growth through the existing franchise brand distribution model. This checklist will help you organize your thoughts, actions, and steps to be taken to ensure a well-planned and structured launch of your new franchise brand.

1. Confirm that your Brand is ready for Franchising

Have the appropriate branding for your business to best present your brand and help buyers understand why what you offer carries value.

2. Check your Training Model

Great franchises have fabulous training models. How can you find out if yours is up to par? Talk to your own employees, gauge your turnover rate and get a feeling for how you stack up against the rest of the market and your competitions.

3. Is your Technology up to Par?

In order to duplicate your model, your franchisees will need technology to execute. Confirm that you have a scheduling system, staffing technology, web management, accounting, and other software platforms.

4. Know your Marketing Model

Good existing franchise brands have great Franchise Marketing Systems. Their marketing and business development model is defined, structured, and organized.

5. Be Ready to Sell your Pants Off

Franchising is a marketing and sales business. You need to be ready to present your value proposition and market your brand to potential franchise buyers. Talk with others who are doing the same and make sure you are up for the task.

6. Are your Financials Impressive enough to Franchise?

A good franchise system should be able to show a franchisee on how to earn $70k or more per year. Your business doesn’t have to make millionaires out of selling a franchise, it just needs to be validated enough to show them how they can make a good living and build a financial asset.

7. Do you have the tools in place to Support the Franchise Model?

As your franchisees expand into new markets, will they be able to leverage the relationships you have in place, pricing you’ve negotiated and overall strategic benefit you get at your corporate business?

8. Check your Legal Structure

Have you trademarked your brand and your logo and protected your intellectual property?

9. Do you Understand the Time, Effort, and Devotion that goes into Supporting Franchisees?

Franchisees are like newborns, they need time and attention beyond what you could fathom until you have one. Are you ready for this? Will you provide enough training and support for your new franchisees?

10. What is your Competitive Differentiator against the Rest of the Market?

How does your small business stack up against your competition and what makes your franchise better? Are you offering an optimal purchase price for your brand?

About The Business Exchange

Established in 1998, The Business Exchange specializes in lead generation in franchise opportunities industry, in print and online. We have over 1000s of Franchises for Sale listings. Call us today at 1-877-337-1188 or ask us how to place your franchise listings.

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Usually, there are three options for a novice entrepreneur, one option is to buy a business, another option is to create a start-up business, and three, invest in a franchise and be a part of a recognizable brand. 

10 Things You Need to Know as a Successful Franchisee

Choose a Franchise that Matches your Personality

Think before you act is the key takeaway here, you’ve finally taken the leap of faith and decided to be your own boss, why would you choose a business that you are not passionate about? Ensure the industry you’re about to get into truly reflects your personality and passion.

What are Franchise & Royalty Fees?

The difference between franchise fees and royalty fees is that the former is a one-time fee charged by the franchisor when a franchisee is opening a franchise. The fee is determined based on how long the franchisor will need to train the franchisee, to get the business up and running and learning the entire business concept.

In contrast, the royalty fee is an ongoing fee paid to the franchisor by the franchisee, it is typically calculated based on the gross revenue of the business, and royalty fees are usually paid monthly rather than biweekly. Generally speaking, royalty fees range from 5-6%.

A business that won’t Break Your Bank

Franchisors in the franchise industry do not want to discourage prospective franchisees from opening new locations, so they come up with affordable pricing.

Choose a Well Known Brand As Your Franchise Opportunity

A well-known brand saves you the headache of establishing brand awareness and residual customer base. When you purchase the name of a well-known enterprise that offers amazing product or services, you are acquiring all the success that comes with it.

Get Assistance in Getting a Prime Location

When you work with an experienced franchisor, they have the expertise in choosing a prime location for your business. For example, they will not pick locations where the population is low and rural. On the other hand, they will pick secured and protected territories for their franchisees. Some companies will even go the extra mile and shield their franchisees from competing businesses. Therefore, these practices in a sustainable franchise system will ensure entrepreneurs as successful franchisees.

Franchisors have experts to help you lock down a prime location that will benefit your business. That said, when making your decision of which franchise to invest in, it would be a good idea to pick a franchise that provides Site Selection Assistance.

Financial Assistance from Franchisors

If you were to start a small business on your own or purchase one, being able to obtain a bank loan is lower if you have a business ideal that’s going to fail. On the flip side, if you want to get a loan for a franchised brand, then it would be easier. Banks are more opened to lending money to franchisees because they know the business will succeed.

A Complete Support Network

One of the biggest reasons why businesses fail is incompetent management and ineffective operation. When you run a business solely on your own, all cards are on the table, finances, day-to-day operations, marketing efforts, customer service, and logistics. It is simply not feasible for one individual to handle all aspects of the business. Since it’s easier to rely on a large support network that will have dedicated staff to help you with everything you need, many entrepreneurs choose to franchise business rather than start their own.

Price Negotiation Perks

When you are under the umbrella of a large franchisor, you don’t need to worry about spending too much on supplies and inventory capital; suppliers reserve their best deals for reliable companies that offer residual income and have been in partnership with them for a long time. Therefore, you might be allocating too much of your budget on supplies when you could save that budget for something else. 

When you become a franchisee, your franchisor’s reputation and relationship with suppliers will suddenly change the dynamics because now you have access to cheaper and more affordable supplies.

Improved Valuation

Owning a franchise equates to faster growth, evolving organizational structures, and increased profitability.

Industry-Leading Approach

As a future franchisee, you need to pick a franchise that is invested in both their future and your future. Choose a franchise that is pushing the envelope and developing innovative ways to flourish.

Franchise 101: 10 Common Mistakes to Avoid

Only Researching One Franchise

You might be very inclined and tempted to say Yes to the first franchise you find and want to invest in, but how would you know what else is out there unless you look the research?

Buying a Franchise without Hiring a Lawyer

Don’t forget to consult a lawyer when it comes to reading and understanding the Franchise Disclosure Document (FDD). An experienced franchise lawyer is able to spot out any red flags in the FDD.

Choosing Passion Brands Only

You’ve decided to choose a franchise that you believe in and are passionate about, but don’t franchise it simply because you like the brand. Ensure that the brand is healthy and will offer constant revenue streams.

High Expectations from the Franchisor

Sometimes, franchisees get too dependent on the franchisor because they get used to receiving training and help. But once they are on their own, they may not know what to do.

Continuous Marketing & Advertising Effort 

Don’t get too complacent on your marketing effort, just because you got your first taste of success it doesn’t stop there. Continue to invest time and money into marketing your business. The hardest part of being a franchisee is to attract and retain new clientele.

Unclear about the Future

Vision is the ultimate cornerstone for an entrepreneur’s success, always have a plan for the future of your business. Go big and go strong, believe in it until you achieve it.

Not Talking to Existing Franchisees

Existing and previous franchisees can offer useful insights and tips on how to successfully run the franchise business. Since they have been doing it for a while, they would be a resource to have.

Don’t Assume and Jump to Conclusions

Don’t assume you know everything and jumping to conclusions, before you make any big decisions, make sure you have data, and research to back it up.

Thinking Bigger is Better

Some franchisees think that the more locations a franchisor have, the more successful they might be. This is not always true.

Always have an Exit Strategy

Like any other business, things may not always go the way we want it to be. Having a backup plan and exit strategy saves you stress and money should things fail.

About The Business Exchange

Established in 1998, The Business Exchange specializes in lead generation in the franchise and business opportunity industry, in print and online. Call us today at 1-877-337-1188 to learn more about our Franchise for Sale listings in Canada and the United States and Request a Quote!

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