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Known from coast-to-coast for the iconic red triangle, Canadian Tire is one of Canada’s most shopped general merchandise retailers. Much of this success can be directly attributed to our unique business model: over 500 retail operations across the country, all owned and operated by people we call Associate Dealers.
Our Dealers are the driving force behind our brand. Their businesses hold a special place in the hearts of Canadian consumers in the communities they serve and where they live. It is this commitment to understanding the needs and services required at a local level that enables our Dealer network to become trusted Leaders in their communities.
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Canadian Tire Corp. has reached a long-term agreement on contracts with the franchise dealers who operate its 490 Canadian Tire stores across the country
Author of the article:
The Canadian Press
Publishing date:
Apr 18, 2013 • April 18, 2013 • 1 minute read •
Join the conversation Reynard Li/BloombergTORONTO — Canadian Tire Corp. has reached a long-term agreement on contracts with the franchise dealers who operate its 490 Canadian Tire stores across the country.
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The Toronto-based retailer of general merchandise, clothing and sporting goods as well as financial services and automotive products and services says terms of the new contract were approved by the associated dealers at a meeting on Wednesday.
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Individual dealers will now sign contracts with the corporation based on the new terms, with implementation expected to begin later this year and continue into 2014. The contracts run through the end of 2024.
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Specific details of the agreement with the Canadian Tire Dealers’ Association were not disclosed, but Canadian Tire said they “reflect the future of retail, the importance of digital channels and technology and reaffirm the strong relationship and expertise of both the corporation and dealers.”
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“Canadian Tire’s dealers are community leaders and the strongest group of entrepreneurs that I have ever worked with,” corporation president and CEO Stephen Wetmore said in announcing the agreement.
“I will put our franchise model up against the best retailers in the world every day of the week.”
Canadian Tire employs more than 85,000 people at over 1,700 retail and gasoline outlets from coast to coast, including its almost 500 locally run Canadian Tire stores as well as Mark’s and various corporate and franchised banners under FGL sports, including Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport and Atmosphere.
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If you are interested in operating a franchise business in Canada, this article will help you understand how to invest in a franchise business as a Canadian immigrant, the Canadian franchise industry, and some of the considerations that needs to be decided in advance.
In this article
A franchise is a method of distributing a product or service involving the franchisor, who establishes the brand or trademark and business system, and the franchisee, who charges a license fee and often an upfront cost of the right to do business with the franchisor's name and system.
Technically, the contract that binds them is a "franchise", but the term often refers to the actual business the franchisee is running. The practice of creating and promoting branding and franchising systems is most commonly referred to as franchising.
There are two different types of franchise relationships.
This is the most recognizable type of franchise. In the franchise format, franchisors provide the franchisees with trade names, products and services, and the entire system for running their business. Franchisees typically receive location support, operating procedures, training, branding standards, quality control, marketing strategy support, and business consulting from franchisors.
They are less identified as franchises, but overall revenue is higher than business format franchises. Examples of traditional or product distribution franchises can be found in bottling, gasoline, automobiles, and other manufacturing industries.
Below is a list of most franchise companies in Canada:
Here is a step by step guide to investing in a franchise business in Canada.
Owning a franchise (or any other business) can be a significant emotional, physical and financial effort. Before you dive into buying a franchise, you need to understand why you want to own it.
If you find it easier to own a franchise than any other type of business, keep in mind that business owners are usually involved in solving their problems.
Just because a franchise is known doesn't always mean it's right for you. Never take learning a franchise lightly. Expect to spend several weeks on this process and look for the following criteria:
Once you have decided on a franchise, start the application process. This is one area in which lawyers can help. As part of the application process, you will be screened just like you would screen a franchised business.
The franchisor takes into account the following considerations:
Prior to COVID19, the franchisee office held face-to-face meetings with potential franchisees. This conference, commonly known as Discovery Day, allows you to get to know each other better and ask questions before you buy a franchise.
However, during the pandemic, opening day takes place online. You must request a virtual tour of the franchise as part of a virtual meeting. When Opening Day comes depends on the franchise. Some prefer to have a meeting at the beginning of the hiring process, while others prefer to have a meeting at the end.
If you don't have the money you need to open a franchise, there's no reason to continue. Apply for funding and wait for sufficient approval to cover all franchise fees and other expenses.
These contracts are usually long and confusing. Therefore, it may be helpful to consult with a lawyer to help with this process.
The city of the franchise has already been selected. It's time to go out and buy or rent commercial space.
You are part of an established brand. There are logos, messages, instructions and products. This is the step you take to establish yourself in your business. Get training on the following aspects of a franchise to learn how to invest in a franchise business:
Ontario is the nation's leading province for franchising, headquartered in Ontario (primarily in the Toronto region) 56% of its franchise operations.
Approximately $1 in 5 will be spent on franchised products or services. About 2 million Canadians are directly employed in the franchising industry.
No, a franchisor is a legal entity that owns the intellectual property, patents, and trademarks of the brand or company being franchised. The franchisee receives from the franchisor the right and license to operate in the territory.
Yes, the franchisee is considered the owner of the business, even if the business they own is a franchise business. This may limit the scope and autonomy of what an employer can do under a franchise agreement.
For example, McDonald's franchisees cannot sell Burger King products and must use the official McDonald's logo and brand.
Yes, if a franchisee violates the terms or obligations of a franchise agreement, the franchise agreement may be terminated for good reason. A termination that is not considered a material cause may be prosecuted as an illegal termination of a franchise.
No. Career progression in a franchise tends to be a bit different than a traditional job search. In particular, you don't need industry experience to open a franchise. You just need to know how to invest in a franchise business.
Deciding which franchise is right for you is an important decision. Not only are you interested in the right business, but your initial investment should fit your budget and allow you to live the lifestyle you want (more free time, more money, managing your work environment).
In addition, the business you want to buy must meet the market requirements of your community. If there is no market demand or the region is already saturated with similar companies, your new business does not have a bright future.
The best advice is to conduct a survey before signing a franchise agreement. Talk to current and former franchisees to make sure your business is in demand in the area where you plan to open your business.
The cost of acquiring a franchise largely depends on the industry in which you start your business, whether your concept requires a store, office, home office or mobile business, the state in which you operate your business, and the amount of overhead costs your business. requires. In addition, many franchise concepts can provide funding or, if interested, help with funding.
yes. But again, it depends on the concept of the franchise. Many franchisors sell plots or master franchises in a particular region. These large areas can be expensive. If you own one franchise and are successful, most franchisors will gladly sell you another region.
If you have a concept and want to get another franchise from another unrelated brand, this is usually possible, as long as you don't plan to buy a competing concept.
Be sure to read and review the full franchise agreement before a franchise lawyer signs it. Let your lawyer know that you plan to purchase another franchise concept in the future to make sure you don't have any problems.
in conclusion , buying a franchise is a hassle. Analyze the due diligence of the franchise business you are considering, find the necessary funding, select a location, and receive the training and support you need to get started. We hope this article will help you navigate and learn how to invest in a franchise business as a Canadian immigrant.
Tim Hortons is a chain of fast food restaurants that has long attracted many residents in the United States who want to eat quickly and tasty, while not paying big money. In the network of these small restaurants, prices are always moderate.
The future network was founded in 1964 in Canada, but over time, the United States became the main place of its activity. At the moment, the main office of the corporation is located in Miami. Tim Horton became the creator of a real empire of small restaurants; in his establishments, people are offered soft drinks, various snacks, soups and other dishes that are prepared according to the chain's signature recipe.
If you buy a franchise to use the brand and open a Tim Hortons restaurant, you will have two options for starting a business. For example, you can open a company store that will sell various bakery products under the auspices of the Tim Hortons brand. This is a standard kiosk that is considered a small business.
But there is an opportunity to open a real small restaurant. Note that almost all restaurants from Tim Hortons are small in size and are fast food places. If you want to become a partner of this chain of restaurants, you will be offered training. But before that, you need to fill in information about yourself on the official website and state that you want to purchase a franchise to use the Tim Hortons brand.
To draw up a contract, you need a director who has experience working in a similar structure. A franchise agreement is drawn up for a period of five to ten years.
If you want to purchase a Tim Hortons franchise or another brand, then our specialists will be happy to assist you in the selection of a franchise or a ready-made business, implementation and project management.
Tim Hortons Franchise: Information taken from open sources and provided for informational purposes only. Official resource for additional questions: https://www.timhortons.com.
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