Growth In Retail/Service Sector Bodes Well For Franchising

PR-USA.net:

Entrepreneurs running franchise outlets in Canada have been able to rely on established business practices to help weather the recession and stand to benefit from an economic recovery as the retail and service sectors continue to bounce back.

“Demand for retail services, including food services, should remain solid in the years ahead in response to steady growth in the economy and population. Canadian real personal consumption of services grew 3.4 per cent in the year to the third quarter of 2010, slightly above the decade-long average of 3.3 per cent,” said Sal Guatieri, Senior Economist, BMO Capital Markets.

The franchising sector is burgeoning as more Canadian entrepreneurs turn to pre-established business models that are poised to ensure long term success in the wake of the recession.

“Franchise owners benefit from a proven business format and also access to professional marketing, national advertising, specialized training, and centralized purchasing – resources that are very attractive to prospective business owners,” said Steve Iskierski, Senior Manager Franchising, BMO Bank of Montreal. “And while these resources do provide a significant advantage, there are many aspects of owning a franchise that need to be investigated before making the substantial investment required to be successful.”

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