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It’s a road you want to go down successfully. We’re talking about your decision on buying a franchise in Canada, financing the franchise cost and being successful in the franchise store or business you have chosen.Clients always ask us if it’s ‘ risky ‘ to buy a franchise. Our answer is somewhat facetious, in that if a franchise fails, we prefer to have someone to blame – that’s you, the franchisor, or your franchise lender. It’s rarely the lender, leaving you and the franchisor.The reality is quite frankly the same as if you were acquiring any business, namely, Do your homework! And invest some time in solid due diligence. Make a good decision around who you are going to do business with.After selecting a franchise opportunity the challenge of financing the business becomes even more bewildering to some of our clients. Let’s share some solid tips, info and suggestions around the successful financing of your franchise cost.We often focus solely around your own financing challenge when buying a franchise; we should add that its just as important to spend some time on understanding the general financing situation around the partnership you are about to enter into with your franchisor. Disclosure documents these days are fairly heavily weighted towards you as the franchisee understanding that you are entering into business with, so we encourage all clients to take a strong look at your franchisors profitability, its financial management, and any items of public record that might hint or portend of future problems.Unfortunately many franchisees we talk to about franchise cost and how we will finance the franchise are under the misconception that there is 100% financing available for your new business. In Canada that is pretty well never the case, and you need to make a strong assessment of the maximum amount you can contribute to the venture from a personal equity basis. If you borrow too much and put too little in the financial folks call that being ‘ over leveraged’- therefore any little bumps in the economy or your ability to generate sales becomes a huge problem if you aren’t properly capitalized.And we already know you next question, which is ‘ how much do I have to put in ‘. We would prefer to give you a clear final answer on that one, such as xx %, but the reality is that your own investment is tied to a couple factors… the size of the financing you require, how you will finance it, and whether initial ratio analysis will show that you meet all qualifications.A ratio is just a ‘ relationship’ of numbers. The two key ratios that you need to focus on in franchise financing are debt to equity, and working capital. Typically you want to have only two times more debt than your personal investment in the business, and from a working capital point of view you want to ensure you have liquid assets to cover at a minimum short term payables.Do franchisors offer loan assistance – the answer is yes… and no. By that we mean simply that many franchisors have developed relationships with Canadian business financing advisors who assist franchisees in finalizing all aspects of the franchise cost financing – including business plan preparation, negotiations, sourcing debt, etc. You should rarely, if ever, expect the franchisor to supply direct loan financing assistance – they are selling franchises, not building a financial empire.In Canada typical methods of financing a franchise are a BIL loan, a working capital term loan, and equpment leasing and financing.Speak to a trusted, credible and experienced business financing advisor who will work with you to successfully finance your franchise store in a minimum amount of time with a maximum mount of success!

Regardless of whether you are looking to make a massive change or just a few small differences Vegan cooking can offer a large number of benefits, which helps to ensure that many people start picking up the habits.Aside from the reality that a Vegan lifestyle is much more green friendly than eating tons of meat it also has a huge benefit of being a much cheaper lifestyle. Because the majority of the foods that are eaten in a Vegan lifestyle can be grown at home it provides a substantial savings that you would not otherwise be able to realize if you were relying on purchasing the majority of your foods from a grocery store.By omitting meats from your diet you are not only doing your part to help the environment but with savings in the thousands of dollars possible each year it can be a huge benefit to look towards a Vegan lifestyle.Other concerns that are important is the ability to avoid chemical treated foods. Many Vegans opt to grow their own produce, which provides the huge benefit of allowing you to use your own home-grown organic foods. This makes them much cheaper for you, which again can significantly decrease your average grocery bill.It is still very important to realize that you might need to buy some food items from the store, however you will not need to worry about the items that you do need to purchase as much since the costs will be significantly lower and there are generally less likely to be subject to harmful chemicals.Many people opt to turn to a Vegan lifestyle due to the health benefits. It is a proven reality that people who consume large amounts of meat tend to weigh more. This is a reality that cannot be avoided especially due to the increasingly large number of people around the world who are becoming obese. By changing to a Vegan lifestyle, it is much easier to lose weight and find a much healthier lifestyle that will benefit your entire family. In order to really see the benefits of this it is necessary that you take some time to really devote to the Vegan lifestyle to see a real benefit.There are some studies lately that speculate that Vegan cooking has been linked to also help reduce the occurrence of diabetes as well. In order to really know if this is true for you it is important to talk to your doctor. Many people experience huge changes to their blood sugar levels by switching to a Vegan lifestyle, however many others also find that it is increasingly difficult to find a good method of changing their blood sugar levels to reduce the need for additional medication. If you are looking to reduce your blood sugar levels then it is important to talk to your doctor before making the adjustment.With any change you might be considering you should always take plenty of time to review your options. Most people find that the Vegan lifestyle is perfect for their needs without spending months of research however; you should still take at least a bit of time to ensure that this is the right lifestyle for you. If you are not interested in making a permanent change then you should consider making some small changes and working to tweak each of these changes to your exact lifestyle preference. You might need to make several changes, but you should be able to settle into a comfortable pattern and lifestyle quite quickly if you devote a bit of time and effort to the process.