Here are some of the most profitable franchises in Canada, including their costs and steps to get started:
1. Tim Hortons
- Industry: Quick Service Restaurants (Coffee & Bakery)
- Initial Investment: CAD $500,000 to CAD $1,000,000+
- Ongoing Fees: Royalties of 4.5% and marketing fees of 5%
- Steps to Start:
- Submit an application on the Tim Hortons website.
- Complete a franchisee evaluation and interview process.
- Secure financing for your investment.
- Attend the required training program.
- Sign the franchise agreement and begin your setup.
2. McDonald’s
- Industry: Quick Service Restaurant
- Initial Investment: CAD $1,000,000 to CAD $2,500,000+
- Ongoing Fees: 4% royalty fee and 4% marketing fee
- Steps to Start:
- Visit the McDonald’s franchising website to apply.
- Meet the financial requirements.
- Complete a training program (usually 12-18 months).
- Sign the franchise agreement.
- Open your McDonald’s restaurant.
3. The UPS Store
- Industry: Postal and Business Services
- Initial Investment: CAD $200,000 to CAD $400,000
- Ongoing Fees: 5% royalty fee and 2.5% marketing fee
- Steps to Start:
- Submit an online application.
- Evaluate available locations.
- Secure financing.
- Complete the training program.
- Sign the franchise agreement.
4. Kumon
- Industry: Education (Tutoring)
- Initial Investment: CAD $70,000 to CAD $100,000
- Ongoing Fees: Royalties vary based on location and earnings.
- Steps to Start:
- Submit an inquiry on the Kumon franchise website.
- Complete the training and certification process.
- Secure a location for the center.
- Launch and manage the center.
5. RBC Mobile Mortgage Specialist
- Industry: Financial Services
- Initial Investment: CAD $100,000 to CAD $200,000
- Ongoing Fees: Various fees related to services rendered
- Steps to Start:
- Complete the franchise application process.
- Undergo training specific to financial services.
- Market the mobile mortgage service.
- Begin providing financial services to customers.
6. Moe’s Southwest Grill
- Industry: Quick Service Restaurant (Mexican Fast Food)
- Initial Investment: CAD $350,000 to CAD $650,000
- Ongoing Fees: 5% royalty fee and 3% marketing fee
- Steps to Start:
- Submit an online franchise application.
- Complete franchise training.
- Find an appropriate location.
- Sign the franchise agreement.
7. Jiffy Lube
- Industry: Automotive Services
- Initial Investment: CAD $350,000 to CAD $500,000
- Ongoing Fees: 5% royalty fee and 2% marketing fee
- Steps to Start:
- Apply through the Jiffy Lube website.
- Complete the training and operational program.
- Secure a location for your Jiffy Lube service center.
- Open the center after completing all necessary steps.
8. A&W
- Industry: Quick Service Restaurant (Burgers)
- Initial Investment: CAD $500,000 to CAD $1,000,000
- Ongoing Fees: 5% royalty fee and 3% marketing fee
- Steps to Start:
- Apply online for the franchise opportunity.
- Attend the franchisee orientation and training program.
- Secure the location and financing.
- Open your A&W restaurant.
Disclaimer:
The costs and steps outlined above are approximate and based on available information at the time of writing. This information is not guaranteed to be accurate and may vary depending on location, market conditions, and other factors. Always conduct your own research and consult with a professional before making any franchise investment decisions.