Is it worth it opening a food franchise such as Subway, Tim Hortons..in Canada?

Question

And how much it costs? Would I be able to get a loan from the bank?

Answer 1

Almost all franchises require you have a large portion of the money unborrowed. You can borrow from the bank but it can only be on a portion - it varies from franchise to franchise but you need at least 25% in cash in most cases. Some franchises won't even let you borrow the money from family to meet the cash portion.

Tim Hortons last I heard was $500,000 turn key but I could be wrong. I had a friend who bought a subway and it was $150,000 or so. It is very dependent on location and the size of your operation.

There are frnachise shows in most major cities in Canada. You should go check one out. Then you can see the range of franchises on offer and get all the details at once.

Good luck.

Answer 2

I can only hope that you are not going to base a business decision on Yahoo Answers!!!

On average it can cost from $50,000 to $150,000++ to open a food franchise. Most franchises expect you to provide at least 25% from your OWN funds, not a bank loan.

Answer 3

The companies have guidelines for people franchising theri restaurants. You have to have a large capital reserve and a fairly high net worth to be considered.

Investigate with other owners and see what you can truly expect from the deal and what would be expected from you/

Answer 4

LIKE EVERY THING IN LIFE YOU HAVE TO WANT TO TAKE A RISK, IF YOU DON'T TRY YOU WILL NEVER KNOW, GO TO THE BANK AND ASK THE WORST THEY CAN SAY IN NO AND ITS NOT EASY TO GET A FRANCHISE YOU HAVE TO APPLY AND SEE IF YOU QUALIFY.

Answer 5

Franchasing can be lucrative. Check wih the bank on how much can you loan and work on it.

Answer 6

open a taco bell or a del taco man every body loves tacos