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Feeling entrepreneurial? Buying a franchise could be the right move

There are an estimated 73,000 franchises in Canada that collectively generate more than $68-billion in gross domestic product and employ close to 1.4 million workers. Dawn Mucci’s lice removal business had been operating for about a year in Toronto when she got a call from a woman in Sudbury asking to buy a franchise 23 years ago. Today, Lice Squad Canada has 35 franchisees and about four corporate locations across the country. A key factor behind franchising’s strength is its business model – one that provides franchisees with a proven system and support for running and growing a business in exchange for an upfront fee and, in many cases, ongoing royalty payments made to the franchisor or owner of the business. . . .

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