According to recent data and information published by the Fédération québécoise de la franchise (CQF), by 2023 Quebec will have more than 9,000 franchised establishments, generating more than $58 billion in annual sales.
With a presence in every region of Quebec, franchising contributes to the economic vitality of local communities and the creation of new businesses. In 2022, 1,213 new franchises were opened in Quebec. This business model is also particularly important for small and medium-sized enterprises (SMEs), which account for the majority of franchised businesses in Quebec.
Franchising, a major player in the Quebec economy
Franchising in Canada, and particularly in Quebec, is a booming business model. In 2023, the Fédération québécoise de la franchise (CQF) revealed that over 9,000 franchised establishments had prospered. The sales generated, estimated at $58 billion, are not only an economic success story, but also a major benefit for local communities. The repertoire of available franchises has grown, demonstrating a wealth of business opportunities.
Business sectors on the rise in Québec in 2023
Among the many franchising sectors in Quebec, some stand out for their dynamism. The restaurant sector, whether fast-food or traditional, is a solid pillar of the Quebec franchising landscape. At least 43,000 people will be working in franchised catering businesses in 2022. The 2022 Economic Analysis of the Franchise Industry in Quebec, conducted by INDICIA on behalf of the Conseil québécois de la franchise (CQF), reveals that the foodservice sector accounts for 23% of franchise networks. It’s important to emphasize that it’s the diversity of concepts and the constant consumer demand for varied culinary experiences that attracts entrepreneurs.
Then there’s retail, with 23% of networks, benefiting from the consumer craze for unique products and personalized services. Finally, professional services also recorded significant growth, accounting for 18% of franchise networks. This growth has been driven by strong demand for specialized, high-quality services to meet the needs of businesses and individuals.
Franchising in Quebec: opportunities and advantages
For entrepreneurs aspiring to franchise in Quebec, there are a number of factors that make this a promising opportunity. The franchisor, who possesses the know-how and expertise, offers future franchisees a turnkey concept, proven by the success of the businesses concerned. What’s more, becoming a franchisee in Quebec also means ongoing support, from initial training to day-to-day operations, ensuring the franchisee’s success.
Brand awareness and image are also major advantages. They enable franchisees to benefit from the solid reputation of the franchise network they join. Finally, access to financial resources is simplified thanks to the support of the franchisor, making it easier to obtain the financing needed to bring your business project to fruition.
In 2024, franchising in Quebec continues to thrive, driven by the diversity of business sectors, investment opportunities and the solid support of franchise networks. Its dynamism, diversification and numerous advantages make it an attractive choice for those wishing to set up a business.
