This article was originally published in the summer 2015 issue of Canadian Franchise Magazine. View the original article in full here.
International expansion is the natural next step for franchisors looking to broaden their reach.
But before you pack your bags and cross the ocean, there are many factors that must be taken into consideration. Every street in every city in every country on every continent in the world has homes of some kind – and these homes house families who need a safe and reliable place to rest their heads at night. That’s what A Buyer’s Choice is all about – making sure that homes are in fine condition to be inhabited.
But it’s not as easy as simply selling your franchise concept to someone in a different country. There are hundreds of considerations to be made before you take this huge step, and they all boil down to one word: research.
Get on the Same Page
The chances of a Canadian location of your Canada-based franchise looking the same as a location in the Middle East are low. The basic structure of your business can be the same, but it’s important to tailor your concept to the idiosyncrasies of different cultures.
Start your international journey with extensive research and exploratory travel. We outsource and hire market research firms to conduct research in the countries in which we’re interested in growing. We want to have a good handle on the market before we even consider opening businesses there. We also connect with real estate industry professionals and specialists across the globe who can give lots of information on the real estate climate, and, in turn, give you an idea of what it’s going to take to find property for a franchisee in that market.