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How to Buy Your Ideal Franchise Business (w/ Gary Prenevost)
Manage episode 446400390 series 3569305
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In this episode of The Unsure Entrepreneur, Roger Pierce interviews Gary Prenevost, a Franchise Expert with over 30 years in the industry and author of the USA Today top-selling book, The Unstoppable Franchisee. As the President of FranNet Southern Ontario and Eastern Canada and a Board Member of the Canadian Franchise Association, Gary has guided thousands of entrepreneurs through the complexities of franchise ownership.
If you’re exploring entrepreneurship, consider this: A key advantage of franchising is the lower failure rate compared to traditional startups — under 20%, versus 50% for businesses started from scratch.
"Franchising isn't just about buying a business; it's a time-compression strategy," Gary says. He describes the model as a guided path where franchisees benefit from established systems, coaching, and a community of other franchisees.
Gary explains the depth and scope of franchising in Canada, where franchises account for approximately 45% of all retail sales. While food and retail franchises are most visible, he emphasizes that the industry spans over 60 sectors, including services like groundskeeping and tutoring.
Don’t want to invest a fortune? As Gary explains, there are franchises for all budgets ranging from small service-based franchises costing under $50,000 to large brick-and-mortar franchises that can exceed millions. And, with the Canada Small Business Financing Program, entrepreneurs can secure up to $500,000 in funding with a government guarantee.
This episode is packed with valuable insights for anyone considering franchising as a viable path to business ownership.
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