For those who have established roots, they will likely want to try and start their franchise business right where they live. Others might not be tied to one place, though, and they might be looking to start their franchise business in the place that has the friendliest business environment.
You want a city that has a balance between prosperous growth, reasonable costs for living and starting a business and friendly taxation and regulation. As a franchisee, you also have to consider if there are laws in place to help protect you and maintain a fair business environment between you and your franchisor.
With that in mind, here are the five best cities to start a franchise in Canada.
1. Grande Prairie, AB
With a population of around 68,000, this small Alberta city located in the north of the province is growing at nearly 3.5% per year, according to Canadian Business magazine. The average household income is over $116,000 and the corporate tax rate is 27%.
Being near the British Columbia border and a little isolated, Grande Prairie draws in people from nearby small towns, meaning its business trading area is much larger than just the city itself. Alberta was also one of the first provinces to have a franchise-specific law in place, so you will be well protected. If you like small town living, Grande Prairie is worth a look.
2. Saskatoon, SK
At just over 300,000 people, Saskatoon is located along major highways that connect it to Saskatchewan’s capital of Regina to the south and the rest of the country via the Yellowhead Highway. This pretty prairie city is growing at a rate of 2.58% annually with an average household income of $101,600 and a corporate tax rate of 27%.
While Saskatchewan doesn’t have any franchise law in place, Saskatoon’s affordability makes it a great place to do business and as a franchisee, you can help advocate for the province to adopt a franchising law.
3. Winnipeg, MB
Another low cost city, Winnipeg has a population of around 800,000 and is growing at 1.32% per year. The average household income is only $85,500, but that reflects the city’s affordable cost of living. Currently, the corporate tax rate is 27%.
Located near the middle of North America along the Trans-Canada Highway, Winnipeg bills itself as the heart of the continent. You will find a business-friendly atmosphere in the city along with a vibrant community in its various neighbourhoods. Manitoba also has a franchise law in place.
4. 8. Vaughan, ON
Located north of Toronto, this city of about 322,500 is home to the Vaughan International Commercialization Centre, which helps local small- and medium-sized enterprises adopt technology imported from abroad for local application. It’s growing at 1.68% annually and the average household income is $120,600. With a corporate income tax rate of 26.5%, Vaughan is attractive for businesses.
Living-wise, it boasts large yards and an uncramped feeling that you don’t get in the major metropolis to the south. You can stretch your legs in this small city and enjoy the peace of mind that comes with Ontario’s Arthur Wishart Act, which was put in place to protect franchisees.
5. Joliette, QC
Another small city located north of a major metropolis, Joliette is a neighbour to Montreal. At a population of about 50,500 and with an annual growth rate of 1.29% and an average household income of around $60,000, this city is a franchisee’s dream. The corporate tax rate is 26.9%.
This is an especially ideal spot if you speak both English and French. Quebec is one of the provinces that lacks a specific franchising law, but its great location helps offset that.
You can’t really go wrong with franchising no matter where you decide to set up shop. We have representatives to help you right across the country. Sign up for a free FranNet franchise search and consultation today no matter where you live.