BMO Bank of Montreal released a study of Canadian franchisees that indicates brand recognition and access to a large support network provide the greatest advantages to owning a franchise.
The survey, conducted by Leger Marketing, also asked franchise owners why they selected franchising over starting their own business(i):
— Appeal of training and central support – 29 per cent;
— Proven business model – 24 per cent;
— Predictable start-up costs -14 per cent; and
— Lack of experience in owning a business – 14 per cent.
“Franchising is enjoying continued growth in North America,” said Joseph Pisani, National Manager, Franchising, BMO Bank of Montreal. “For Canadians who are seeking to start their own business, a franchise may be the best route to increase their chances for success. As part of a major franchise network, an owner can expect to benefit from professional marketing, national advertising, specialized training and centralized purchasing.”