The National Post published a great interview with Tony Wilson of Buying a Franchise in Canada.
Here’s an excerpt:
An increase in first-time franchisees, many of which are laid-off workers who’ve received a golden handshake in the past year, is causing some experts to warn potential franchisees about exactly what they are getting into.
Franchises aren’t buying anything. They’re renting the rights to a brand and that contract will expire at some date and, even if the contract is renewed, franchisees could be in for some significant costs to update or renovate their locations.
Read the article: Beware costly surprises in your contract.