bozena

Hello All,

We have been looking at Canada for the last 2 years and slowly making preparation for the move. My partner wants to open some kind of business but unsure what's of what kind. We have been told by many friends to buy a Tim's Horton franchise but seem to me we will have to sell a lot of coffees to make a profit. Any suggestion? Has anybody started a new business are there any professional bodies who research the market and can advise?

Thanks for the help
Boz

Butch Cassidy

OK, now that I've picked myself up off the floor. I have never, note NEVER, been into any empty Timmys, or one where I have NOT had to line up for my coffee. I'm not saying you'll be minted BUT I would be willing to suggest that you wont be starving either. Having said I don't think it's that cheap to get a Timmy's and many of the best locations in the major cities will have gone. I also understand that the company has a policy of offering new locations to pre-existing franchisees before offering them to 'green' franchisees.

Personally I would say making a small profit wouldnt be too hard, not something I'd like to do myself (my heart just wouldnt be in it even if I do love their donuts) but hey if you think you can be happy wearing that sexy little uniform go for it.

R I C H

From what I understand (I've a friend that owns 5 local Subway franchises), decent profits from owning food/beverage franchises here are achievable, but it's your 2nd or 3rd franchise that helps make a decent living. You'll need $500,000 minimum investment for one of the better known names.

My experience of owning a business here is that day to day running issues aren't dissimilar to the UK, but you need to familiarise yourself with local zoning laws, and regulatory issues that govern whatever business you choose. Insurance is a major issue (litigious society), and of course access to credit in the current climate may be difficult for a new immigrant.

Butch Cassidy

OK have we entered the twilight zone? R I C H and Novo both claiming they have friends in the same week. Thats almost as unbelievable as me claiming to be intelligent, debonair and respected.

R I C H

Don't stretch the point

Auld Yin

How much for a Tim Horton franchise.

The cost of a full Canadian franchise varies from $430,000 to $480,000* (CDN$) (plus all applicable taxes). At least $144,000 of the franchise cost must be unencumbered (cash or liquid assets), in addition to $50,000 in working capital (also unencumbered). The remaining amount may be financed through the chartered banks, upon 'approval' of a franchise.


* The cost of a Tim Hortons license may exceed $480,000 in certain locations due to higher development costs.

Go to http://www.timhortons.com/ca/en/join...se_ca_faq.html or more info.

Be prepared to work very, very hard. Rewards are high.

Sleeping_Beauty45

Taking Timmies out of the equation, I would say that you need to sit down and really look at what skills you/your partner have.

I'm assuming that you have funds to purchase a business, you haven't said?

If you are thinking of opening up something new, then you have to be 110% dedicated to it, plus some, nothing is an overnight success and most new businesses take at least two years to become established so you need to find something that absolutely rocks your boat in the early stages because it is a bit like having a new baby, you put your absolute all into it for very little return.

If you are looking at buying an established business then what interests you? What are your skills? Have you thought about franchises? There are franchising shows held periodically. There are anything from printing your own chocolate wrappers (say for weddings and exhibitions) which needs a small financial investment compared to something like Timmies or Subway.

What route are you taking into Canada - to go as an investor/entrepreneur you need a minimum of $300,000 although some of the PNP schemes require less than that.

There are so many variables. You need to give more information to get a more detailed response.

bozena

Hi,

Thank you all for your response. I know it is very hard to start your own business. We have a cargo company in the UK and it seems that the past 6 years we've done nothing but work, which we don't mind, but moving to Canada we wanted something different. I have read a lot about Tim Horton’s and been a witness to how busy they can get and I don't think it is challenging enough for us.

What about old people's home, B&B, property development, lettings, estate agency, mortgage broker? I really don't know and I am looking for some original ideas. My background is finance and my partner's aviation.
Our budget is about $500,000.

Thanks
Boz

Novocastrian

Notwithstanding Butch's incredulity, I have yet another friend who bought a William's Coffee Pub franchise. He lost a packet and ended up losing even more by unsuccessfully suing the parent company for misrepresentation.

christmasoompa

Can I just check that you have a visa already? Or are you planning on applying for the entrepreneur visa - and if so, have you already applied for it if you've planning on moving in a couple of years?

I'm sure you're sorted but just wanted to check as obviously the visa is the most important bit!

bozena

Hi,

No we haven't applied for a visa as yet. We may be coming to Canada under "company intra-transfer"; I think that's what they call it. It is through my partner’s side as he was a Station Manager for a Canadian airline.

Thanks
Boz

JonboyE

Canada, or at least in my part of BC, is generally a good place to be self-employed or in business. I think anyone with the necessary get up and go can make a success of themselves. However, don't underestimate the time it will take you to learn about the Canadian ways of doing business, how the local markets work, and the time and hard work it will take to get established.

bozena

Thank you for your response. I quite like the idea of B&B but my only worry it is seasonal. One day we will find something interesting to do!

Sleeping_Beauty45

What about daycare for children (ie, private nursery)?

vickysteve

Hi I just have one question, you say your partner was a station mangager for a Canadian airline, is he still a station manger or is he doing something different now. I am in the airline industry. I am intrested to see how many brits are working in canada in the industry. And to here some of there storys.