{"id":16198,"date":"2019-12-27T13:56:45","date_gmt":"2019-12-27T18:56:45","guid":{"rendered":"https:\/\/www.2026-pfc.reviewyoursite.ca\/blog\/?p=16198"},"modified":"2019-12-27T13:56:45","modified_gmt":"2019-12-27T18:56:45","slug":"millennials-are-finding-franchising-success","status":"publish","type":"post","link":"https:\/\/2026-pfc.reviewyoursite.ca\/blog\/franchise-opportunities\/millennials-are-finding-franchising-success","title":{"rendered":"Millennials are finding franchising success in Canada"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-16210 size-large\" src=\"https:\/\/www.2026-pfc.reviewyoursite.ca\/blog\/wp-content\/uploads\/Franchising-Success-and-Millennials-1024x682.jpg\" alt=\"Franchising success in Canada\" width=\"1024\" height=\"682\" srcset=\"https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153250\/Franchising-Success-and-Millennials-1024x682.jpg 1024w, https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153250\/Franchising-Success-and-Millennials-300x200.jpg 300w, https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153250\/Franchising-Success-and-Millennials-768x511.jpg 768w, https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153250\/Franchising-Success-and-Millennials-1536x1022.jpg 1536w, https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153250\/Franchising-Success-and-Millennials.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Millennials are finding franchising success as the franchise ownership demographic is starting to change. The millennial cohort is the generation born between 1980 and 2000 and represents approximately 9.8 million people in Canada. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Millennials are also the most ethnically diverse generation that Canada has ever seen. This diversity contributes to innovative thinking, enhanced creativity, and access to broader networks and relationships. The bulk of immigrants to Canada is millennials because Canada&#8217;s immigration point system favours younger applicants.<\/span><\/p>\n<p><a href=\"https:\/\/www.statista.com\/statistics\/443305\/international-migrants-in-canada-2014\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-16204 size-full\" src=\"https:\/\/www.2026-pfc.reviewyoursite.ca\/blog\/wp-content\/uploads\/statistic_id443305_canada_-immigrants-by-age-in-2017.png\" alt=\"Immigrants to Canada by Age\" width=\"1000\" height=\"743\" srcset=\"https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153249\/statistic_id443305_canada_-immigrants-by-age-in-2017.png 1000w, https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153249\/statistic_id443305_canada_-immigrants-by-age-in-2017-300x223.png 300w, https:\/\/2024-rd-staging.nyc3.cdn.digitaloceanspaces.com\/2024-prepare-for-canada\/2018\/11\/16153249\/statistic_id443305_canada_-immigrants-by-age-in-2017-768x571.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.statista.com\/statistics\/443305\/international-migrants-in-canada-2014\/\">Statistic: Number of immigrants in Canada in 2017, by age | Statista<\/a><br \/>Find more statistics at <a href=\"https:\/\/www.statista.com\" rel=\"nofollow\">Statista<\/a><\/p>\n<p><span style=\"font-weight: 400;\">You may think the typical franchise owner is someone established looking to leave a corporate gig, or a baby boomer with a high net worth, but that\u2019s changing. Millennials are finding franchising success and it may just be a perfect fit.<\/span><\/p>\n<p style=\"text-align: center;\">[cjtoolbox name=&#8217;Franchising For Newcomers Ebook LP 2&#8242;]<\/p>\n<h2>&nbsp;<\/h2>\n<h2>What Millennials Offer to Franchisors<\/h2>\n<p><span style=\"font-weight: 400;\">For franchisors, the millennial cohort can provide:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A solution to retiring baby boomers leaving the franchise system<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Access to an energetic, passionate, educated, and tech-savvy talent pool<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Opportunity to shape owners who will be leading the business.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Millennials value mentorship, expertise, and teamwork. This is invaluable since franchisees succeed when they can tap into training, support, and business know-how. <\/span><\/p>\n<h2>What Franchisors Offer to Millennials<\/h2>\n<p><span style=\"font-weight: 400;\">For millennials, the franchise model provides benefits that include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A business framework and set of tools for those who may lack years of business experience<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Strong training programs to develop or enhance business skills to operate a business<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Access to a network of existing franchise owners for support and guidance<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Marketing and other critical expertise from a recognized brand <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Opportunity to jumpstart business and entrepreneurial goals<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These combined benefits can reduce the burden of building a new business from scratch, yet still appeal to the entrepreneurial goals of millennials. Millennials could well be the future of the franchise industry.<\/span><\/p>\n<h2>How to Increase Franchising Success<\/h2>\n<p><span style=\"font-weight: 400;\">The franchise industry in Canada has seen double-digit growth in recent years and the number of new franchise brands and outlets continues to grow. There are over 78,000 franchise units in Canada, and 4,300 new franchise outlets open each year. With such a broad expanse of franchise brands to select from, here are some things millennials can consider to increase their franchising success:<\/span><\/p>\n<h2>Search for Brands that Match Skills and Education:<\/h2>\n<p><span style=\"font-weight: 400;\">Millennials are highly educated so take advantage of your academic background to increase your franchising success. For example, educators may want to pursue franchise categories related to educational products and services.<\/span><\/p>\n<h2>Do Your Research:<\/h2>\n<p><span style=\"font-weight: 400;\">Millennials are resourceful so put that skill to use and explore franchise categories and potential franchisors. The Franchise Disclosure Document provides extensive information about the franchisor.<\/span><\/p>\n<h2>&nbsp;<\/h2>\n<h2><strong>Speak to Other Franchise Owners:<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The Franchise Disclosure Document provides a list of current franchisees. Arrange to speak with franchisees to find out more information about the franchisor, industry trends, and their franchising experience (both positive and negative) to avoid any surprises. <\/span><\/p>\n<hr \/>\n<h5>Related Posts:<\/h5>\n<ul>\n<li>\n<h5><span style=\"color: #808080;\"><a style=\"color: #808080;\" href=\"https:\/\/www.2026-pfc.reviewyoursite.ca\/blog\/small-business\/franchise-opportunities\/successful-franchisees\/?utm_campaign=Franchise&amp;utm_source=millennials-franchising-success&amp;utm_medium=personality-traits\">The 10 Personality Traits of Successful Franchisees<\/a><\/span><\/h5>\n<\/li>\n<li>\n<h5><span style=\"color: #808080;\"><a style=\"color: #808080;\" href=\"https:\/\/www.2026-pfc.reviewyoursite.ca\/blog\/small-business\/franchise-opportunities\/how-to-research-a-franchise-opportunity-thats-best-for-you?utm_campaign=Franchise&amp;utm_source=millennials-franchising-success&amp;utm_medium=how-to-research-franchise\">How to Research a Franchise Opportunity that\u2019s Best for You<\/a><\/span><\/h5>\n<\/li>\n<li>\n<h5><span style=\"color: #808080;\"><a style=\"color: #808080;\" href=\"https:\/\/www.2026-pfc.reviewyoursite.ca\/blog\/small-business\/franchise-opportunities\/what-type-of-franchisor-support-can-you-expect\/?utm_campaign=Franchise&amp;utm_source=millennials-franchising-success&amp;utm_medium=type-of-franchisor-support\">What Type of Franchisor Support Can You Expect?<\/a><\/span><\/h5>\n<\/li>\n<\/ul>\n<hr \/>\n<h2>Explore your Financing Options:<\/h2>\n<p><span style=\"font-weight: 400;\">While franchise fees can be expensive and even prohibitive for millennials, franchisors offer a range of investment levels and some may be as low as $10,000. Determine what available cash you may have and look to other financing options that may include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Traditional bank loans<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Supplemental financing from friends and family<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Canada Small Business Financing Loan<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Millennials are finding franchising success and the mutual benefits that franchisors and millenials offer each other could be a perfect partnership.&nbsp;<\/span><\/p>\n<p>Visit the <a href=\"https:\/\/www.thefranchiseconsultingcompany.com\/\" target=\"_blank\" rel=\"noopener\">Franchise Consulting Company<\/a> for information to help you make an informed franchising decision. Whatever your decision, we can help you decide if franchising is right for you!<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":6,"featured_media":16210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[70,72,73],"class_list":["post-16198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-franchise-opportunities","tag-franchise","tag-franchising","tag-franchising-in-canada"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Millennials Succeeding in Franchising in Canada | Prepare for Canada<\/title>\n<meta name=\"description\" content=\"Millennials are finding franchising success as the franchise ownership demographic is starting to change. 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