Financing the purchase of a business
Buying a franchise in Quebec generally follows these steps:
Finding Information: Our team helps you research the different types of franchises available and identify the ones that match your interests, skills and budget.
Assessment: Together, we will assess your financial situation and determine how much you are ready to invest. We’ll walk you through the initial fees, royalties, cost of training, marketing fees, start-up costs, and purchasing assets for your location.
Contact: We will contact the franchises that interest you and ask them for their information material. This should include a detailed description of the business, start-up costs, franchise fees, support offered, etc.
Expert consultation: If necessary, we will refer you to a lawyer specializing in business or franchise law, as well as an accountant to review the documents provided by the franchise. It is crucial to understand the details of the franchise agreement before signing anything.
Market research: One of your broker’s roles is to do market research to assess the potential of the business. This includes examining the competition, determining the demand for the product or service, and understanding the target market.
Visiting existing franchises: We will then move on to visits. We will visit existing franchises together, we will ask our questions to the owners and we will observe how the business operates on a daily basis. This will give you a clearer idea of what to expect.
Business plan: With the help of our experts, we help you write a detailed business plan describing how you plan to manage your franchise. It should include financial projections, marketing strategies, personnel plans, etc.
Financing: If you need financing, we coordinate the exploration of various options for you such as bank loans, financing by private investors or financing programs from the franchise itself.
Signature of the contract: After completing your research, consulting with experts and determining that the franchise is a good opportunity, we will make you a commercial offer and we will represent you for this purchase.
Training and Opening: Most franchises offer training to help you get started. Once the training is completed, you can proceed to open your franchise. Congratulations!
