The decision to purchase a business is a complicated one. Ontario business people who are considering buying an existing franchise should be aware of franchise law before making this decision. They should also ask four key questions before deciding whether the sale is right for them.
Building a business from nothing can be a time-consuming process without guaranteed results. Many Ontario entrepreneurs start with a franchise of an already successful enterprise, hoping to skip the initial difficult years. However, purchasing a franchise comes at a price. In return for the franchisor's expertise, the franchisee (the person buying the franchise) typically pays a substantial price.