The following content has been graciously provided by Charnhansra.ca. Have you become disheartened with the current economic climate, and tired of looking everywhere for employment? Ottawa to Victoria, St. John to Nunavut, you are certainly not alone. Thousands of Canadians are ready to try something new, to come out from under the constant supervision of superiors in order to earn a pay cheque and try things their way for once. For many, purchasing a franchise seems like the perfect way to get out from under the corporate thumb.
There are certainly many aspect of franchise purchase which are appealing to the individual. Whether we're talking a Vancouver catering company, Toronto auto repair shop, or electronics super store, franchises have name power to back them up. They represent familiar brands and familiar ways of doing business, and thus offer more security to customers.
On the other hand, franchises are familiar because they ALWAYS do things a certain way. There are set rules regarding what individual owners can or can't do, in regards to everything from using an executive recruitment firm to products purchased for services. How is an individual supposed to make sense of all the intricate details tied up in buying a franchise?
Well, one way is to do some research on what buying a franchise in Canada is all about, and that is just what is covered in Buying a Franchise in Canada, from author Tony Wilson.
Wilson has been involved in franchise law in Canada for more than two decades. His expertise comes first from the legal end, and secondarily as a business owner himself. The full title of his book includes the tag line understanding and negotiating your franchise agreement, which is perhaps one of the most important features of the process for any potential franchise owner. Many a videographer, Toronto based and in other places, has been stymied by just how much certain franchises require in exchange for their brand names.
In his book, Wilson reminds us all that we do have options, even when it comes to buying into a well established brand. Section by section, he takes a look at common franchise agreements and their applications on a legal level here in Canada. Any potential owner will find the specifics of what a franchise can and cannot legally require from you to be of great use, both in selecting a franchise and in negotiating the agreement.
Perhaps because of Wilson's legal background, the contractual aspects are by far the strongest part of this book. However, experience with a wide range of clients has also enabled him to include valuable information on other aspects of the franchise process, from selecting the right franchise for an individual to follow-ups regarding your agreement. You'll have to look elsewhere for commercial mortgage solutions, but as far as the legal details of franchisee ownership, this book is one of the best there is for Canadian entrepreneurs.