Are you considering taking advantage of one of the senior care franchise opportunities Montreal? It is an opportunity of a lifetime that shouldn’t be missed. But before you invest in a franchise, there are a few factors that should be considered including a budget, support system, and more importantly franchise territory. Your franchise territory plays will determine your success role.
What Is a Franchise Territory?
A franchise territory is an area within which a franchisee can operate without interference from others. The franchise agreement contains details about franchise territory, so it is expedient that you read all the fine prints in your agreement for a perfect understanding. It is however important to note that the level of protection offered to a franchisee varies from one franchisor to another.
In your quest to know your franchise territory, it is uncommon for the franchisee to focus solely on the size of the territory. Many franchisees believe the larger the protected area, the greater the potential for business growth and development. However, there are other factors that should be given due consideration as well.
Apparently, a franchisee’s territory is where their potential customers reside. It is an area where they will generate revenue. A small territory will limit your growth potential. having another franchisee on the border of your territory puts you in a position where you compete for customers with the other business.
So, if you are investing in senior care franchise opportunities Montreal, it is essential that you evaluate your franchise territory and well as the protection that comes with it. There are people who can get to the people and all that they can get
Franchise Territory: What It Entails
Having a franchise territory does not mean that another franchisee within the franchise systems will be unable to compete against you within your territory, depending on the franchise agreement.
There are two types of franchise territories namely Exclusive and Protected Territories. These terms are used interchangeably but they have their different meanings. Exclusive territory means that your franchise business should be the only one within the franchise system operating within that territory – no interference from another franchisee within the same system. Protected territory, on the other hand, allows for some form of competition. In this case, your franchise system might decide to compete indirectly by offering online sales.
Do not put pen to paper without reading through the franchise agreement as some franchisors do not offer any form of a franchise territory. As a result, the franchisor has the right to compete and set up shop within your territory since there is no binding agreement in that regard. Secure your business by choosing a franchise business that offers at least, one form of territorial protection.
Senior care franchise opportunities Montreal offers franchisees the protection required for sustainable business growth. Some territories are defined by population, demography, or zip codes. In the senior care sector, it is based on the population of baby boomers within the area.