{"id":74494,"date":"2023-09-14T00:00:00","date_gmt":"2023-09-14T00:00:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/"},"modified":"2024-01-04T10:50:43","modified_gmt":"2024-01-04T15:50:43","slug":"experts-share-what-you-need-to-know-before-you-open-a-franchise","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/","title":{"rendered":"Experts Share What you Need to Know Before you Open a Franchise"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\">\n\t\t\t\t\t\t\t<span>Entrepreneur<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Experts Share What you Need to Know Before you Open a Franchise<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80\" class=\" cover-image  wp-post-image\" alt=\"a franchise owner opening store\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Experts Share What you Need to Know Before you Open a Franchise &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published September 14, 2023 \u2022 8 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>A franchise is a business model that allows owners to sell goods and services under an established brand as part of a franchise agreement. While many think of the \u201cgolden arches&#8221; franchise, there are many sectors where you can invest in a franchise to make your entrepreneurship ideas happen.<\/p>\n\n\n\n<p>In this webinar, host Christine Suski, Director, Small Business at RBC, is joined by RBC franchising expert Joanne Mason and successful franchisors Andy and Priya Gogia, proud owners of Twisted Indian Fusion Street Food. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-catch-an-on-demand-recording\">Catch an on-demand recording:<\/h2>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-9d9cdd0d-a6c4-4076-baff-b325f37744dc\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<div class=\"wp-block-group is-style-most-popular-issues most-popular-issues is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading mob-mar-b-hlf mar-b-hlf\" id=\"h-the-in-s-and-out-s-of-franchising\">The In&#8217;s and Out&#8217;s of Franchising<\/h3>\n\n\n\n<div class=\"wp-block-group is-style-most-popular-issues most-popular-issues is-content-justification-left is-nowrap is-layout-flex wp-container-core-group-is-layout-04ef96da wp-block-group-is-layout-flex\">\n<div class=\"wp-block-rbc-icon-block mar-r mob-mar-r\"><img loading=\"lazy\" decoding=\"async\" width=\"75\" height=\"75\" class=\"icon icon-80\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/\/assets\/img\/icons\/icon-business.svg\" alt=\"icons\/icon-business\" \/><\/div>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Is owning a franchise right for you? The panelists share their insights and experiences to help you decide. [English event]<\/p>\n\n\n\n<p class=\"mar-b mob-mar-b-hlf\"><a href=\"https:\/\/rbc.rev.vbrick.com\/embed?id=1805b667-fff2-4ee1-90e7-a66626e44ae3\" target=\"_blank\" data-dig-id=\"LP-57958-6675937e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Watch Now\" class=\"rbc-link-format goto-link\" data-icon-class=\"goto-link\" rel=\"noreferrer noopener\">Watch Now<\/a><br>Password: <strong><code>RBCsmallbiz<\/code><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<h4 class=\"wp-block-heading\">Starting a franchise<\/h4>\n\n\n\n<p>Andy and Priya Gogia bought their first Subway franchise in 2003. Both had extensive experience in the food industry and wanted to use their knowledge in an entrepreneurial way. Following considerable success at Subway, as well as a Mexican quick-service chain, they decided to launch <a href=\"https:\/\/twistedindianwraps.com\/\" target=\"_blank\" rel=\"noopener\">Twisted Indian Fusion Street Food<\/a> (then called Twisted Indian Wraps) in 2013 with an aim of bringing healthy, approachable and delicious Indian food to the Canadian population. Read about <a href=\"https:\/\/discover.rbcroyalbank.com\/twisted-indian-wraps-owners-share-the-secret-sauce-behind-a-successful-franchise-business\/\" target=\"_blank\" rel=\"noopener\">their full story here.<\/a><\/p>\n\n\n\n<p>As successful franchisees and franchise owners, Andy and Priya have a great deal to share with those thinking about starting a franchise. Here are their top tips:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Do what you\u2019re passionate about<\/strong>. \u201cWithout passion, you can\u2019t drive a business or represent that business. You need to wear that business on your shoulders, on your sleeve and be proud to represent the brand,\u201d says Andy, adding that it\u2019s important to develop an affinity towards a specific brand and nurture your passion for it.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Match your perception with reality<\/strong>. Priya explains that many prospective franchise owners have an idea of what it\u2019s like to run a franchise \u2013 but their perception differs greatly from reality. \u201cMake sure you get experience before you jump in,\u201d she says. For example, if you\u2019re thinking of owning a quick-service restaurant, go work at a QSR establishment to understand what it\u2019s like.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Understand why<\/strong>. Why do you want to go into franchising? \u201cYou really need to know your \u2018why\u2019 and understand the lifestyle,\u201d cautions Priya.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Know your financial position<\/strong>. \u201cIt\u2019s crucial that you know how much cash you have available and how much it would cost to buy a franchise.\u201d<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>On financials, Joanne adds that there are intricacies to examine and get comfortable with. \u201cFranchise banners have different requirements,&#8221; she says. \u201cSome banners need you to put a minimum equity injection, which is your personal cash flow, into a location or project. Understand what that is, what you will need to start with the business and understand the fees.&#8221; As there are franchise fees and royalty fees involved, it&#8217;s important to have a really solid handle on what is expected of you as a franchisee. Contacting a lawyer and accountant is a smart idea at the early stage, so you can go into any discussions prepared and set up for success.<\/p>\n\n\n\n<p>At the same time, Joanne urges prospective franchise owners to avoid overextending themselves. &#8216;You don&#8217;t want to put all your money into the business,&#8221; she says, citing the potential for unforeseen circumstances (i.e., COVID). \u201cYou need to be able to sustain your business during a time where there are unknowns or a decrease in sales.&#8221;<\/p>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>Read RBC\u2019s\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/business\/pdf\/a_guide_to_buying_a_franchise_en_1180e.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">A Guide to Buying a Franchise<\/a>\u00a0\u2014 a helpful e-guide for prospective franchisees \u2013 for further information.<\/p>\n<\/div>\n<\/div>\n\n\n\n<h4 class=\"wp-block-heading\">Growing a franchise<\/h4>\n\n\n\n<p>When you own a franchise, growth can happen in a couple of ways. You can grow your customer base at your current location, and you can expand your ownership to additional locations. The panellists offer this advice for growing a franchise.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Engage in your community<\/strong>. While franchisors will do national-level marketing to advertise the brand, individual locations should engage in local store marketing or LSM. This involves advertising in a local newspaper, sponsoring a local hockey team or doing charity events. \u201cAs a franchisee, you\u2019re going to have more success when you are community-driven,\u201d says Andy. \u201cInvolvement in your community helps you get your name out and will lead to success.\u201d<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Always watch your profitability levels<\/strong>. With the current economic climate, prices for goods have fluctuated considerably, and food costs have consistently gone up over the past year. As owners of a fast-casual restaurant, Andy and Priya are always looking for ways to reduce their costs without compromising quality. \u201cWe have weekly meetings with our food supplier and are always working on ways to reduce our costs while maintaining quality. To be successful, we have to have lower operating costs and increase profitability,\u201d says Priya.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Always watch your profitability levels<\/strong>. With the current economic climate, prices for goods have fluctuated considerably, and food costs have consistently gone up over the past year. As owners of a fast-casual restaurant, Andy and Priya are always looking for ways to reduce their costs without compromising quality. \u201cWe have weekly meetings with our food supplier and are always working on ways to reduce our costs while maintaining quality. To be successful, we have to have lower operating costs and increase profitability,\u201d says Priya.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Multiply.&nbsp;<\/strong>\u201cFranchising is a numbers game,\u201d says Priya. \u201cYou can\u2019t become rich in one store \u2014 you have to multiply. The fun in franchising is when you are a multi-unit owner and can free yourself from your original store and put a team in place to run it.\u201d<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Joanne adds that as you&#8217;re looking to grow a franchise, it&#8217;s smart to leverage the resources that are available to franchisees. \u201cDo your research \u2014 there are so many avenues that you can refer to, such as the Canadian Franchise Association (CFA).&#8221; <a href=\"https:\/\/cfa.ca\/\" target=\"_blank\" rel=\"noopener\">Franchise Canada Online<\/a>, produced by the CFA, is a comprehensive resource for franchisees that offers resources on every step of the franchising process.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Becoming franchisors<\/h4>\n\n\n\n<p>Twisted Indian Fusion Street Food has 12 locations, and they have recently completed an 18-store deal in British Columbia. From being owners of a single Subway franchise, they expanded to multiple locations under that banner and replicated their success with the Mexican chain. As they run Twisted Indian, they explain that they have franchise ownership down to a science and have insightful tips for those looking to expand a franchise.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><strong><strong>Have your systems in place<\/strong>. <\/strong>\u201cYou need to ensure that when you move your concept to locations two, three and four, you\u2019re able to multiply it and maintain consistency. Once you have achieved the recipe, you can grow,\u201d says Priya.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong><strong>Be selective in who you bring on board<\/strong>.<\/strong> When it comes to finding potential franchisees, Andy and Priya look for certain qualities. Communication skills, passion and personality are all crucial. \u201cAre they a people-person? Do they work well with teams in a team environment? Are they outgoing?\u201d says Priya. She also adds that they appreciate candidates who are bringing their own cash to the table rather than it being a gift or an inheritance. \u201cIf they\u2019ve been able to save on their own, they know the value of money,\u201d she says.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Get legal support<\/strong>. Engage a Lawyer to review the Franchise Disclosure Document and Franchise Agreement presented to you by the Franchisor.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Bring in outside experts<\/strong>. Andy and Priya brought in a business development consultant last year, who completes store audits, runs through checklists and ensures key points are being met, such as food quality, clean environment, good ambiance, friendly service, etc.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong><strong>Find local partnerships.<\/strong>&nbsp;<\/strong>As Andy and Priya are expanding into BC (they started in Ontario), they partnered with an Area Representative. \u201cThey understand the lay of the land, the geography, the economics and how the locations may or may not work,\u201d says Priya.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h5 class=\"wp-block-heading\">5 key takeaways<\/h5>\n\n\n\n<p>So, what&#8217;s the bottom line on franchising? Here are five key takeaways from the webinar&#8217;s panellists.<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-roman-lower-list\">\n<li class=\"wp-block-rbc-list-item\">\n<p><em>\u201cToday there are more than 65,000 franchise units in Canada, employing approximately 2 million Canadians.\u201d \u2014<\/em>&nbsp;Christine Suski<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><em>\u201cAs a franchisee, you\u2019re going to have more success when you are community-driven. Involvement in your community helps you get your name out and will lead to success.\u201d<\/em>&nbsp;\u2014 Andy Gogia<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><em>\u201cPerception and reality are two different things. Make sure you get experience before you jump in. If you\u2019re thinking of owning a quick service restaurant, go work at a QSR establishment to make sure it\u2019s something you would really like to do.\u201d<\/em>&nbsp;\u2014 Priya Gogia<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><em>\u201cYou\u2019re going to be married to the business, and there are a lot of hours that go into it, especially at the startup period when you\u2019re building it. You need to be passionate about the business and choose a banner or a franchise that is in line with your values and your lifestyle.\u201d<\/em>&nbsp;\u2014 Joanne Mason<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><em>\u201cFranchising is a numbers game. You can\u2019t become rich in one store \u2013 you have to multiply. The fun in franchising is when you are a multi-unit owner and can free yourself from your original store and put a team in place to run it.\u201d<\/em>\u00a0\u2014 Priya Gogia<\/p>\n<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>Still wondering if owning a franchise is right for you? Take a look at our article,&nbsp;<a href=\"https:\/\/discover.rbcroyalbank.com\/is-owning-a-franchise-right-for-you-7-things-to-consider\/\" target=\"_blank\" rel=\"noreferrer noopener\">Is Owning a Franchise Right For You? 7 Things to Consider<\/a>, for additional insights.<\/p>\n\n\n\n<p>You can also use our free&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/business\/franchise\/franchise-assessment-tool\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">Franchise Assessment Tool<\/a>, which can help you evaluate franchise systems and understand what questions to ask as you assess your options and determine if becoming a franchise owner is the right fit.<\/p>\n<\/div>\n<\/div>\n\n\n\n<p><sup>* <\/sup>Source: CFA Canadian Franchise Industry Economic<br>Outlook 2023 (April 2023 publication). <\/p>\n\n\n\n<p><blockquote class=\"wp-embedded-content\" data-secret=\"ZXmXfwq9mw\"><a href=\"https:\/\/cfa.ca\/franchisecanada\/canadian-franchising-an-industry-overview\/\">Canadian Franchising: A 2023 Industry Overview<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Canadian Franchising: A 2023 Industry Overview&#8221; &#8212; Franchise Canada\" src=\"https:\/\/cfa.ca\/franchisecanada\/canadian-franchising-an-industry-overview\/embed\/#?secret=k1SjCbqJVO#?secret=ZXmXfwq9mw\" data-secret=\"ZXmXfwq9mw\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-740860b8-cd3e-4c6e-9f8d-2597ce8a9bd3\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Experts Share What you Need to Know Before you Open a Franchise &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-92469e49-52bd-485c-8d74-e7d62639de9a\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/01\/Side-hustle.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"business owner working at desk taking a call\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/01\/Side-hustle.jpg 5120w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/01\/Side-hustle.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/01\/Side-hustle.jpg?resize=768,513 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/01\/Side-hustle.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/01\/Side-hustle.jpg?resize=1536,1025 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/01\/Side-hustle.jpg?resize=2048,1367 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/\">\n\t\t\t\t\t\tStart a Business\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/from-one-day-to-day-one-heres-how-to-start-your-business-in-2026\/\" class=\"card-title h4 mar-t-0\">From \u2018One Day\u2019 to \u2018Day One\u2019: Here\u2019s How to Start Your Business in 2026<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"487\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Sarah-YT-Thumbnail.png?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Sarah Herscheid, President and CEO, Sign\u00e9 Sarah\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Sarah-YT-Thumbnail.png 1137w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Sarah-YT-Thumbnail.png?resize=300,143 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Sarah-YT-Thumbnail.png?resize=768,365 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Sarah-YT-Thumbnail.png?resize=1024,487 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/\">\n\t\t\t\t\t\tBusiness Success Stories\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/a-run-of-success-how-signe-sarah-reinvented-tights\/\" class=\"card-title h4 mar-t-0\">A Run of Success: How Sign\u00e9 Sarah Reinvented Tights<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"614\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Banner-small-539.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Lightbulb with question marks\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Banner-small-539.jpg 1200w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Banner-small-539.jpg?resize=300,180 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Banner-small-539.jpg?resize=768,461 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/10\/Banner-small-539.jpg?resize=1024,614 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/\">\n\t\t\t\t\t\tSmall Business\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/small-business-poll\/\" class=\"card-title h4 mar-t-0\">RBC Small Business Poll: Aspirations Hit Eight-Year High as Resilience Defines Small Business Owners<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-9d9cdd0d-a6c4-4076-baff-b325f37744dc {\n\t\theight: 20px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-9d9cdd0d-a6c4-4076-baff-b325f37744dc {\n\t\t\theight: 20px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-740860b8-cd3e-4c6e-9f8d-2597ce8a9bd3 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-740860b8-cd3e-4c6e-9f8d-2597ce8a9bd3 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-92469e49-52bd-485c-8d74-e7d62639de9a {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-92469e49-52bd-485c-8d74-e7d62639de9a {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Hear from franchising experts on what it takes to get started and succeed as a franchise owner.<\/p>\n","protected":false},"author":10,"featured_media":74495,"parent":57328,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[157],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[33],"rbc_mmm_category":[305,323,381],"class_list":["post-74494","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-entrepreneur","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-beginner","rbc_mmm_category-business","rbc_mmm_category-business-stages","rbc_mmm_category-start-a-business"],"acf":{"contently_publication_id":"362086","custom_author":"Diane Amato","rbc_video_header":"","rbc_media_duration":"","rbc_video_keywords":"","rbc_video_description":"","rbc_video_upload_date":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Hear from franchising experts on what it takes to get started and succeed as a franchise owner.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Hear from franchising experts on what it takes to get started and succeed as a franchise owner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-04T15:50:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"930\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/\"},\"author\":{\"name\":\"RBC\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#\\\/schema\\\/person\\\/565fe74483a298c05d1be363c890c7b0\"},\"headline\":\"Experts Share What you Need to Know Before you Open a Franchise\",\"datePublished\":\"2023-09-14T00:00:00+00:00\",\"dateModified\":\"2024-01-04T15:50:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/\"},\"wordCount\":1610,\"image\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/image-930x620-2.png?quality=80\",\"keywords\":[\"Entrepreneur\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/\",\"name\":\"Experts Share What you Need to Know Before you Open a Franchise - My Money Matters\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/image-930x620-2.png?quality=80\",\"datePublished\":\"2023-09-14T00:00:00+00:00\",\"dateModified\":\"2024-01-04T15:50:43+00:00\",\"description\":\"Hear from franchising experts on what it takes to get started and succeed as a franchise owner.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/image-930x620-2.png?quality=80\",\"contentUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/image-930x620-2.png?quality=80\",\"width\":930,\"height\":620,\"caption\":\"a franchise owner opening store\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"My Money Matters\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Business Stages\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Start a Business\",\"item\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"Experts Share What you Need to Know Before you Open a Franchise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#website\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/\",\"name\":\"RBC Royal Bank\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/#\\\/schema\\\/person\\\/565fe74483a298c05d1be363c890c7b0\",\"name\":\"RBC\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g\",\"caption\":\"RBC\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"description":"Hear from franchising experts on what it takes to get started and succeed as a franchise owner.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/","og_locale":"en_US","og_type":"article","og_description":"Hear from franchising experts on what it takes to get started and succeed as a franchise owner.","og_url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/","og_site_name":"RBC Royal Bank","article_modified_time":"2024-01-04T15:50:43+00:00","og_image":[{"width":930,"height":620,"url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/#article","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/"},"author":{"name":"RBC","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0"},"headline":"Experts Share What you Need to Know Before you Open a Franchise","datePublished":"2023-09-14T00:00:00+00:00","dateModified":"2024-01-04T15:50:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/"},"wordCount":1610,"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80","keywords":["Entrepreneur"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/","name":"Experts Share What you Need to Know Before you Open a Franchise - My Money Matters","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/#primaryimage"},"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80","datePublished":"2023-09-14T00:00:00+00:00","dateModified":"2024-01-04T15:50:43+00:00","description":"Hear from franchising experts on what it takes to get started and succeed as a franchise owner.","breadcrumb":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/#primaryimage","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80","contentUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80","width":930,"height":620,"caption":"a franchise owner opening store"},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"My Money Matters","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/"},{"@type":"ListItem","position":3,"name":"Business Stages","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/"},{"@type":"ListItem","position":4,"name":"Start a Business","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/"},{"@type":"ListItem","position":5,"name":"Experts Share What you Need to Know Before you Open a Franchise"}]},{"@type":"WebSite","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/","name":"RBC Royal Bank","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0","name":"RBC","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ebd3d2d89d929986d9e254569349587e0ae3dda4934d4b7c91e93fd550e72532?s=96&d=mm&r=g","caption":"RBC"}}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Experts Share What you Need to Know Before you Open a Franchise","url":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/start-a-business\/experts-share-what-you-need-to-know-before-you-open-a-franchise\/"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"RBC"}],"creator":["RBC"],"publisher":{"@type":"Organization","name":"RBC Royal Bank","logo":""},"keywords":["entrepreneur"],"dateCreated":"2023-09-14T00:00:00Z","datePublished":"2023-09-14T00:00:00Z","dateModified":"2024-01-04T15:50:43Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Experts Share What you Need to Know Before you Open a Franchise\",\"url\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/business\\\/business-stages\\\/start-a-business\\\/experts-share-what-you-need-to-know-before-you-open-a-franchise\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/image-930x620-2.png?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2023\\\/09\\\/image-930x620-2.png?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"RBC\"}],\"creator\":[\"RBC\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC Royal Bank\",\"logo\":\"\"},\"keywords\":[\"entrepreneur\"],\"dateCreated\":\"2023-09-14T00:00:00Z\",\"datePublished\":\"2023-09-14T00:00:00Z\",\"dateModified\":\"2024-01-04T15:50:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbcroyalbank.com\/p.js"},"featured_img":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/image-930x620-2.png?quality=80&w=930","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbcroyalbank.com\/en-ca\/author\/fclaussen\/","display_name":"RBC"},"relative_dates":{"created":"Posted 3 years ago","modified":"Updated 2 years ago"},"absolute_dates":{"created":"Posted on September 14, 2023","modified":"Updated on January 4, 2024"},"absolute_dates_time":{"created":"Posted on September 14, 2023 12:00 am","modified":"Updated on January 4, 2024 10:50 am"},"featured_img_caption":"","tax_additional":{"post_tag":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"advgb-post-tax-term\">Entrepreneur<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Entrepreneur<\/span>"],"slug":"post_tag","name":"Tags"},"rbc_content_type":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/content-type\/article\/\" class=\"advgb-post-tax-term\">Article<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Article<\/span>"],"slug":"rbc_content_type","name":"Content Types"},"rbc_audience":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/audience\/business-owners\/\" class=\"advgb-post-tax-term\">Business Owners<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business Owners<\/span>"],"slug":"rbc_audience","name":"Audiences"},"rbc_lob_group":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/lob-group\/business\/\" class=\"advgb-post-tax-term\">Business<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business<\/span>"],"slug":"rbc_lob_group","name":"LOB Groups"},"rbc_difficulty_level":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/difficulty-level\/beginner\/\" class=\"advgb-post-tax-term\">Beginner<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Beginner<\/span>"],"slug":"rbc_difficulty_level","name":"Difficulty Levels"},"rbc_mmm_category":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/business\/\" class=\"advgb-post-tax-term\">Business<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/business-stages\/\" class=\"advgb-post-tax-term\">Business Stages<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/start-a-business\/\" class=\"advgb-post-tax-term\">Start a Business<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Business<\/span>","<span class=\"advgb-post-tax-term\">Business Stages<\/span>","<span class=\"advgb-post-tax-term\">Start a Business<\/span>"],"slug":"rbc_mmm_category","name":"Categories"},"ep_custom_result":{"linked":[],"unlinked":[],"slug":"ep_custom_result","name":"Custom Results"}},"series_order":"","jetpack_sharing_enabled":true,"primary_tag":"157","primary_rbc_mmm_category":"381","_links":{"self":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/74494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter"}],"about":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/types\/rbc_my_money_matter"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/users\/10"}],"version-history":[{"count":11,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/74494\/revisions"}],"predecessor-version":[{"id":92459,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/74494\/revisions\/92459"}],"up":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/57328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media\/74495"}],"wp:attachment":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media?parent=74494"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/tags?post=74494"},{"taxonomy":"rbc_content_type","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_content_type?post=74494"},{"taxonomy":"rbc_audience","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_audience?post=74494"},{"taxonomy":"rbc_lob_group","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_lob_group?post=74494"},{"taxonomy":"rbc_difficulty_level","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_difficulty_level?post=74494"},{"taxonomy":"rbc_mmm_category","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_mmm_category?post=74494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}