The Canada Franchise Association (CFA) is arguing that Alberta’s economic downturn is the appropriate time for residents to look at becoming a franchisee as a way to make an income during tough times.
“Franchising is a great way for people to be in business for themselves, but not by themselves,” Sherry McNeil, the president and CEO of the CFA, said in an interview Saturday.
“If they’re experiencing an economic downturn, or maybe they’re worried about the job market or their job has disappeared, or they’ve been downsized, franchising provides them a different option to earn a living.”
McNeil made the argument at the annual Franchise Canada Show in Calgary at Stampede Park. She said the field gives potential business owners a chance to become entrepreneurs, but with the support system that an established brand brings.
“There’s a franchise for almost everything out there,” McNeil said.
“The investment range can be anywhere from $50,000 all the way to over $1 million.”
The franchise industry generates $96 billion dollars annually in Canada and is made up of more than 75,000 units, according to the CFA.
The Franchise Canada Show will wrap up in Calgary on Sunday at Stampede Park.