Have you always wanted to be your own boss? Starting your own business is not without its challenges. Figuring out what your business will be, finding a location in Canada, training staff and marketing your business are just a few of them.
Buying into a dealership is an ideal way to start a business. Not only do you have the advantage of an established product or service line, you also get help finding a Canadian location, training your team and marketing your new business.
Other benefits of buying a dealership include:
- Corporate support: A dealer is only as successful as dealership, so you count on the company’s support whenever you need it, whether you need to upgrade your facility or train new employees.
- Buying power: It can be difficult to negotiate the best price for the goods you need to run your business if you’re on your own. A dealership is a small part of a larger whole, so you’ll be able to take advantage of the purchasing power of a huge network and get the best prices possible.
- Brand Recognition: This is probably the single biggest advantage of buying a dealership. Buying into a recognized brand earns you instant credibility in the marketplace, so you won’t have to invest the time, money and resources in building a brand from scratch.
- Marketplace Evaluation: Any dealer worth its salt will evaluate your local Canadian market to ensure there is enough consumer support to keep your business afloat.
Choosing to buy into a dealership is a pretty easy decision; deciding what kind of brand you buy into is a little more difficult.
Start by considering your interests. If you enjoy food and drink, you might do well with a restaurant or bar brand, especially in Canada. If you’re interested in cars, an automotive brand, like Crackmasters Canada Windshield Repair & Replacement Specialists, might be more your speed.
The next thing to consider is the cost of buying into a dealership. Some restaurant brands, for example, start with an initial investment of half a million dollars, with a total investment of more than a million dollars once it’s all said and done. Many brands also require regular royalty payments, either as a percentage of your profits or a flat fee.
If you’re thinking about buying a dealership, do your research. Explore the competition. Read customer reviews. Talk to your peers. And consider the possibilities of being your own boss.