What's In a Name: BMO Study Reveals 'Brand Power' Attracts Franchise Owners
- Franchised businesses account for more than 40 per cent of all retail sales - More than 78,000 franchises across Canada employ over 1.5 million people - BMO offers advice for Canadians considering buying a franchise
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 07/10/12 -- 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):
"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."
"Supported by healthy job growth and low interest rates, April 2012 sales at Canadian retailers - excluding automotive dealers and gasoline stations - picked up to a 2.2 per cent year-over-year rate, from 1.5 per cent in 2011," said Sal Guatieri, Senior Economist, BMO Capital Markets. "However, sales are expected to remain moderate in the year ahead, as consumers rein in elevated debts and take advantage of the strong Canadian dollar to shop abroad."
According to Mr. Pisani, all potential franchise owners should do their homework before investing. "BMO can assist with the investigation process by helping clients ask the right questions of the franchisor," added Pisani.
If you are thinking about franchise ownership, BMO highlights ten key issues of franchising that you should investigate first.
1. Who's buying what you are selling?
2. Do your research
3. Read the fine print
4. Do they have staying power?
5. What does it cost and what do you get for it?
6. What's in it for them?
7. Is there room to grow?
8. Will you have the research, tools, and support you need?
9. Do you fit the profile?
10. Get the big financial picture
The survey conducted by Leger Marketing was completed between March 21, 2012 and April 12, 2012 with a sample of 500 Canadian business owners. A probability sample of the same size would yield a margin of error of +/-4.38%, 19 times out of 20.
(i)asterisk denotes small sample size
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $526 billion as at April 30, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
For media inquiries, please contact:
Paul Cunliffe, Toronto
416-867-3966
Ronald Monet, Montreal
514-877-1873
Laurie Grant, Vancouver
604-665-7596
Internet:
Twitter: (at)BMOmedia
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Datum: 10.07.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 163808
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TORONTO, ONTARIO
Kategorie:
Insurance
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