Franchise financing is an integral part of the Canadian entrepreneur’s challenge of obtaining and building a success Canadian franchise. As most Canadian business owners quickly discover, franchisors do not provide direct or indirect financing in the Canadian marketplace. This leaves the business owner essentially on his or her own to generate the capital they need from chartered banks, finance firms, and other institutions.It goes without saying that the budding entrepreneur needs to first make a significant investment in general franchise knowledge – i.e. the pros and cons, as well as of course focusing on financing the franchise.Franchises in Canada are product and service related. When you purchase the franchise you should have strong level of confidence that the concept is proven and successful, as you will be trying to replicate that success based on the products, services and brand awareness of the franchisor.Franchisees are encouraged to do a proper level of due diligence based on that availability of information with respect to the business success of the franchisor. If you are considered a franchise that is owned and run by a large well know public company – think McDonalds! You of course have the ability to carefully review the financial statements and management commentary that is available to anyone by virtue of the companies listing on the public stock exchanges.The good news about franchise financing and the risk that the business entrepreneur takes is that there is a significant amount of disclosure required by law to you as a franchisee. In Canada, as well as the United States you should have the ability to get a copy of the franchisors financial statements. If you don’t feel qualified to read and interpret a financial statement you should use the services of a trusted franchise financing advisor, or even your accountant or lawyer would be good choices.Many franchisors in Canada will of course gladly give your franchisee references, and you should clearly talk to other franchisees about financial performance with respect to what you hope to achieve based on your personal investment and borrowed funds. When we say ‘ financial performance ‘ we of course mean general business basics such as sales, profits, working capital challenges, leverage ( how much debt do you need to take on ), etc.In financing a franchise you clearly want to understand how much debt you are going to take on – this is also directly commensurate with what you need to put into the business as your own investment. Most business owners today fully realize that a franchise can never be 100% OPM. OPM= Other Peoples Money!Our experience in Canadian franchise financing is that the financing of your newly acquired business has is a combination of your own investment, as well as borrowed funds. Franchise financing success in Canada is most commonly achieved by your utilization of the CSBF program, which is one of Canada’s best programs for small and medium sized business. This program provides up to 90% financing of leaseholds and fixed assets. When our firm structures a franchise financing we supplement the CSBF program with a combination, as required, of lease financing, and in some cases a cash term loan if in fact that is required.In summary, by carefully selecting your franchisor, understanding your overall financial risk, and carefully putting together a financing package that fits your needs, you will have a very strong chance of being successful in your franchise venture.
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A Guide to Help You Pick the Best Air Purifier for Your Loved Ones
Holidays are around the corner. This is the time of year when people start purchasing gifts for their loved ones. If you are going to purchase an air purifier for someone you love, we have some helpful tips for you. If you want to purchase the best unit, you may be able to use this guide to your advantage. Read on to find out more.
1: Set Your Budget
Just like anything you purchase, make sure you have set your budget first. The price of the unit will vary based on a lot of factors, such as the capacity, filter type, features, and brand of the unit. If you don’t have a flexible budget, we suggest that you go for a product that is available to purchase for less than $300.
2: Consider the Needs of the Recipient
Your next move is to consider the needs of your recipient. If you are going to purchase this unit for everyday use, we suggest that you go for a unit that comes with a HEPA filter. On the other hand, if your loved one has a specific need, we suggest that you consider a specialized unit.
For example, if they are more prone to respiratory issues, such as allergies and infections, we suggest that you get a UV purifier for them. The devices are designed to neutralize viruses and bacteria.
3: Think About the Available Space
Another primary factor is to consider the available space in the office or house of the recipient. For example, if they need a general-purpose unit for a small apartment, you may want to consider a filterless unit.
On the other hand, if they have plenty of free space, you may consider a bigger unit that features a higher airflow rating. These units are powerful enough to cover a large face.
4: Consider Extra Features
Lastly, we suggest that you consider additional features that they will just love. For example, some units come with an indicator that turns on when the filter needs to be replaced. This will allow the user to change the filter so that the device continues to work properly.
So, you may want to consider these features before you place your order. These features may not be important to you, but your friend may just be over the moon.
Long story short, we suggest that you consider these four tips if you are going to purchase a gift for your loved one on these holidays. Since the air is full of pollution during winter days, nothing can make a better gift than an air purifier. Therefore, you should consider these tips before looking for an online or physical store to make your purchase decision.
The Significance of Pure Air Inside Your Home
Have you ever climbed up mountains? If so, what do you do when you reach the top? Most people open their arms, close their eyes, and take a deep breath. That is the special thing about clean and fresh air. You feel like taking a pause and inhaling fresh air. Over the past year, we have faced several waves of coronavirus. These days, we have been warned about another wave of this virus. Therefore, the importance of clean air has been increasing day by day. In this article, we are going to find out why air quality is important when it comes to our indoor environment.
The impact of pollution on your indoor air
No matter where you go, you will have to face the consequences of poor quality. Even if you are alone in your home, you will still be prone to polluted air. Every year, more than 1 million people lose their life because of air pollution.
According to some reports, India is among the top 10 countries in the world with the worst air quality. The effect of polluted air is more evident as people spend over 90% of their time inside their homes. Another research study found that residents are at a greater risk of covid-19.
As a matter of fact, indoor air pollution has become an international concern. We can say that pollution levels inside and in closed spaces are up to five times higher. Since most pollutants are not visible to the naked eye, you may not be able to aware of the dangers of dirty air.
Indoor air pollutants may be generated by common household items, such as cleaning agents, cooking fuel, furniture polish, pet dander, and paint. Apart from this, domestic appliances such as refrigerators and heaters may also be the common source.
Since homes are not airtight, air pollutants can easily get in. For example, smog, smoke, mold spores, and dust can get into your house through your windows or doors. Air conditioners can be used to cool down your rooms. But the downside is that they can also boost the movement of pollutants across your house.
What can you do to purify your indoor air?
Basically, air purifiers are simple devices that receive dirty air and put it out after passing it through powerful filters. Nowadays, you can choose from hundreds of air purification units available in the market. They are based on a wide range of technologies. They are available in different sizes to cover rooms of different sizes.
Nowadays, most types of air purifiers depend on HEPA technology. Initially, this technology was introduced in the 40s in order to capture pollutants from the air. Although these filters have been used for the filtration of particulate matter, they may not be that effective when it comes to eliminating volatile organic compounds.
Therefore, if you are worried about your health, we suggest that you invest in a type of device that comes with a HEPA filter. With these units, filtering your indoor air will be a piece of cake. Therefore, you can count on these devices to and ensure clean air inside your house.