In our final blog post of the year, FranNet of Canada would like to take a look back at the year that was (2021), and the year that will be (2022), for the franchising industry. We’ve scoured the internet to find the latest and greatest statistics to share, so sit back, relax, and enjoy the scenery as we take a tour.

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First up, some interesting data and statistics, courtesy of the Canadian Franchising Association (CFA). Canada ranks No. 2 in the world for franchising, behind our neighbors to the south. It’s estimated that 4,300 new franchises open each year—or one every two hours, 365 days of the year. 45% of all retail sales are attributed to franchise businesses, representing over $100 billion annually, and the industry is responsible for about 5% of the total GDP of Canada.

As for employees, one out of five works for a franchise company, or about 1.5 million in all. Franchising is active in over 30 different businesses, retail, and service sectors. But here’s the statistic you’ll really love hearing about. Out of all the franchises in Canada over the last five years, 97% are still in business and 86% of those are still under the same management. Franchising looked pretty stable compared to other small businesses with 100 or fewer employees, which a survey found that a majority had lost at least 30% of their pre-pandemic business.

Another trend worth mentioning in 2021 was the “Great Resignation”, although statistics bear out that this was more of a U.S.-based phenomenon. Still, a recent Bank of Canada survey indicated that approximately 20% of all employees had considered a resignation and/or possible career transition this year.

What can Canadians expect the franchising industry to look like in 2022? Well, according to the prognostications from Edwards Global Services (EGS) who conducted a country-by-country outlook, Canada is one of four countries expected to have a high level of franchise development in 2022, along with Australia, Israel, and the UK.

You can get a jump on things in 2022 by making plans to attend the Canadian Franchising Association’s National Convention, which takes place April 9-11, 2022, at the Westin Ottawa, Ontario. Yes, registration is already open, and this is the biggest franchise networking expo and event of the year.

Thanks for reading FranNet of Canada’s bi-monthly blogs this year. We hope you found our content to be both engaging and informative. If something you’ve read has inspired you to embark upon an entrepreneurial journey of your own, FranNet of Canada can help you get the ball rolling. With consultants serving every Canadian province, there’s a representative near you who also lives and works in your area. To find your local province consultant, simply follow this link and select “Canada” on the FranNet Franchise Consultant Directory page of our website.