Most Profitable Franchises in Canada in 2024
In the dynamic realm of Canadian entrepreneurship, franchising emerges as a gleaming opportunity amidst the ever-shifting landscape of business ventures. As we stride into 2024, the pursuit of Canada's most profitable franchises has escalated, fueled by a convergence of innovation, shifting consumer preferences, and unwavering economic robustness. Let's explore the most profitable franchises in Canada and unravel the path to seizing your own franchise venture in the vast expanse of the Great White North.
Factors to Consider When Choosing a Franchise in Canada
Opening the optimal franchise demands a meticulous evaluation of diverse elements pivotal to its enduring profitability and resilience:
Brand Prestige and Appeal: Well-established franchises boasting strong company recognition tend to swiftly cultivate a devoted clientele.
Current Industry Dynamics: Sectors like technology, health and wellness, and sustainable products/services are presently witnessing substantial expansion across Canada.
Financial Outlay and Profitability Prospects: Grasping the financial commitments and costs vis-à-vis potential gross returns stands as a cornerstone for prudent investment decisions.
Guidance and Development: Franchisors furnishing robust support frameworks and comprehensive training regimens lay a solid foundation for franchisee triumph.
Consumer Demand: Scrutinizing regional and national consumer appetites that have grown for the franchise's offerings is pivotal in assessing prospective profitability.
Most Profitable Franchises in Canada
1. Tim Hortons
Year Founded: 1964
Franchising Initiated: 1965
Number of Franchise Outlets: 5,200+
Required Investment: $246,500-$2,162,500
Royalty Fee Required: 6%
Nestled in the heart of every Canadian morning, Tim Hortons isn’t just a coffee stop—it’s a cultural institution where the aroma of freshly brewed coffee mingles with the warmth of community. From the iconic double-double to the indulgent Timbits, every visit is a journey into Canada’s love affair with the perfect cup of joe.
2. Canada Bread
Year Founded: 1911
Franchising Initiated: 1960s
Number of Franchise Outlets: 1000+ franchisees
Required Investment: $20,000-$450,000
Royalty Fee Required: NA
Canada Bread: where every loaf tells a story of tradition and innovation kneaded into the very dough. From fluffy morning croissants to the whole grain goodness of artisanal loaves, each slice reflects a commitment to wholesome ingredients and the artistry of baking that spans generations.
3. Pizza Pizza
Year Founded: 1967
Franchising Initiated: 1970s
Number of Franchise Outlets: 730+
Required Investment: $495,000
Royalty Fee Required: 6%
At Pizza Pizza, every slice is a canvas of flavor, crafted with passion and topped with a sprinkle of Canadian creativity. From the crisp bite of the crust to the tangy sauce that dances on your taste buds, it’s more than pizza—it’s a celebration of sharing good times, one slice at a time.
4. Petro-Canada
Year Founded: 1975
Franchising Initiated: 1987
Number of Franchise Outlets: 1,400
Required Investment: at least $75,000
Royalty Fee Required: 5%
Petro-Canada fuels the journeys of millions across the vast Canadian landscape. More than just a gas station, it's a symbol of reliability and national pride. From coast to coast, Petro-Canada offers top-tier fuel, convenient amenities, and a dedication to environmental sustainability, ensuring Canadians can explore their beautiful country with confidence.
5. Mr. Lube Canada
Year Founded: 1976
Franchising Initiated: 1977
Number of Franchise Outlets: 170+
Required Investment: $1,800,000-$2,200,000
Royalty Fee Required: 7%
Mr. Lube is the go-to destination for quick, efficient, and professional automotive maintenance. Specializing in oil changes and a wide range of other services, Mr. Lube's knowledgeable technicians ensure that a vehicle runs smoothly. With no appointments necessary and a focus on customer satisfaction, it's the convenient choice for busy Canadians.
6. Booster Juice
Year Founded: 1999
Franchising Initiated: 2000
Number of Franchise Outlets: 130+
Required Investment: from $375,000-$390,000
Royalty Fee Required: 6%
Booster Juice blends health and taste into every vibrant smoothie and juice they create. Known for using fresh, high-quality ingredients, Booster Juice provides a nutritious boost that energizes and refreshes.
7. Boston Pizza
Year Founded: 1963
Franchising Initiated: 1968
Number of Franchise Outlets: 420+
Required Investment: $1,023,500-$2,757,500
Royalty Fee Required: 5%
Boston Pizza isn’t just about pizza—it’s where friends become family over a shared love of good food and great times. From sizzling pastas to hearty burgers, every dish tells a story of a bustling kitchen and a place where every bite feels like a warm hug.
8. Canadian Tire Gas+
Year Founded: 1922
Franchising Initiated: 1934
Number of Franchise Outlets: 450+
Required Investment: $50,000-$125,000
Royalty Fee Required: NA
Canadian Tire Gas+ isn’t just about topping up your tank; it’s where Canadians fuel their adventures with a blend of convenience and reliability. From road trips to daily commutes, each stop is a reminder that every journey starts with a full tank and a map full of possibilities.
9. Pet Valu
Year Founded: 1976
Franchising Initiated: 1976
Number of Franchise Outlets: 680+
Required Investment: $538,000-$724,000
Royalty Fee Required: NA
Pet Valu isn’t just a store; it’s a haven where tails wag and purrs echo through aisles of treats and toys. From cozy beds to nutritious meals, each product is a promise to pamper your pet with the same love and care they give you every day.
10. CARSTAR Canada
Year Founded: 1989
Franchising Initiated: 1989
Number of Franchise Outlets: 770+
Required Investment: $298,200-$804,300
Royalty Fee Required: 1.5%+
CARSTAR Canada isn’t just about fixing cars; it’s where accidents become stories of resilience and restoration. With skilled hands and compassionate hearts, each repair isn’t just a job—it’s a commitment to getting Canadians back on the road with confidence.
11. Country Style Food
Year Founded: 1963
Franchising Initiated: 1964
Number of Franchise Outlets: 250+
Required Investment: $230,000-$360,000
Royalty Fee Required: 5-6%
Country Style Food isn’t just about a meal; it’s a taste of rustic charm served with a side of hospitality. From flaky pastries to hearty breakfasts, each bite is a nod to simpler times and the joy of sharing a delicious moment with loved ones.
12. Thai Express
Year Founded: 2004
Franchising Initiated: 2004
Number of Franchise Outlets: 300+
Required Investment: $337,900-$753,700
Royalty Fee Required: 6%
Thai Express brings the vibrant flavors of Thai cuisine to the fast-casual dining scene. Known for its quick service and authentic dishes, Thai Express offers a culinary adventure with every meal. From spicy curries to savory stir-fries, each dish is crafted with fresh ingredients and traditional techniques, delivering a taste of Thailand in every bite.
13. Yogen Früz Canada
Year Founded: 1986
Franchising Initiated: 1987
Number of Franchise Outlets: 250+
Required Investment: $135,679-$472,179
Royalty Fee Required: 6%
Yogen Früz revolutionizes frozen yogurt with its focus on health and customization. Patrons can create their own frozen yogurt masterpieces with a variety of flavors and an extensive array of toppings. Yogen Früz offers a guilt-free indulgence that’s as nutritious as it is delicious, making it a favorite for all ages.
14. Harvey's
Year Founded: 1959
Franchising Initiated: 1960s
Number of Franchise Outlets: 1,000+
Required Investment: at least $600,000
Royalty Fee Required: 5%
Harvey’s isn’t just about burgers; it’s about sizzling grills and the freedom to customize your perfect meal. With every flame-grilled patty and fresh topping, you’re not just dining out—you’re celebrating your unique taste, one juicy bite at a time.
15. M&M Meat Shop
Year Founded: 1980
Franchising Initiated: 1982
Number of Franchise Outlets: 1,200+
Required Investment: from $320,000
Royalty Fee Required: 3-4%
M&M Meat Shop isn’t just a freezer aisle; it’s a treasure trove of gourmet delights waiting to be discovered. From succulent steaks to savory sides, each product is a promise of quality and convenience that transforms everyday meals into culinary adventures.
16. Freshii
Year Founded: 2005
Franchising Initiated: 2008
Number of Franchise Outlets: 500+
Required Investment: $172,500-$641,000
Royalty Fee Required: 6%
Freshii isn’t just a salad bar; it’s a hub of healthy living where every bowl is a masterpiece of greens and grains. From nutrient-packed wraps to revitalizing juices, each bite is a step towards a fresher, more vibrant you.
17. Fix Auto
Year Founded: 1997
Franchising Initiated: 1998
Number of Franchise Outlets: 190+
Required Investment: $169,700-$3,090,000
Royalty Fee Required: 3%
Fix Auto is a leader in the collision repair industry, providing top-notch service and craftsmanship. Whether it's a fender bender or major accident repair, Fix Auto's expert technicians restore vehicles to their original condition. With a network of locations across the country, Fix Auto is a trusted partner in getting you back on the road safely.
18. Mr. Sub
Year Founded: 1968
Franchising Initiated: 1971
Number of Franchise Outlets: 600+
Required Investment: $200,000-$350,000
Royalty Fee Required: 6%
Mr. Sub has been a staple in the Canadian sandwich scene for decades, offering a wide variety of fresh and flavorful subs. Each sandwich is made to order with high-quality ingredients, ensuring a delicious and satisfying meal every time. Mr. Sub's commitment to freshness and customer satisfaction makes it a beloved choice for lunch and dinner.
19. Sutton Group Realty
Year Founded: 1983
Franchising Initiated: 1983
Number of Franchise Outlets: 200+
Required Investment: under $50,000
Royalty Fee Required: upon request
Sutton Group Realty is a trusted name in Canadian real estate, known for its personalized service and expert market knowledge. Whether buying, selling, or renting, Sutton's agents provide comprehensive support and guidance. With a focus on integrity and client satisfaction, Sutton Group Realty helps Canadians navigate the real estate market with confidence.
20. Pita Pit
Year Founded: 1995
Franchising Initiated: 1997
Number of Franchise Outlets: 500+
Required Investment: $321,934-$497,382
Royalty Fee Required: 5%
Pita Pit isn’t just about pitas; it’s a revolution in fast, fresh, and flavorful dining. From grilled meats to crisp veggies, each pita is a personalized creation that satisfies cravings without compromising on quality or taste.
21. Liberty Tax Service
Year Founded: 1972
Franchising Initiated: 1973
Number of Franchise Outlets: around 2,700
Required Investment: $43,700-$78,900
Royalty Fee Required: 14%
Liberty Tax Service isn’t just a tax preparation service; it’s a partner in navigating the complexities of taxes with confidence. With knowledgeable professionals and a commitment to transparency, each return isn’t just filed—it’s an opportunity to maximize refunds and minimize stress.
22. Swiss Chalet
Year Founded: 1954
Franchising Initiated: 1954
Number of Franchise Outlets: 1,300+
Required Investment: $1.3 million-$1.6 million
Royalty Fee Required: 5%
Swiss Chalet is a beloved Canadian dining institution, known for its famous rotisserie chicken and signature Chalet Sauce. With a menu that offers a variety of homestyle dishes, Swiss Chalet provides a warm, welcoming atmosphere for family dining. It's a place where comfort food and great service come together.
23. Coffee News
Year Founded: 1988
Franchising Initiated: 1994
Number of Franchise Outlets: 390+
Required Investment: minimum $11,150-$12,250
Royalty Fee Required: fixed
Coffee News isn’t just about coffee; it’s a daily dose of positivity and entertainment served alongside customer’s morning brew. From quirky facts to heartwarming stories, each issue is a conversation starter that brightens clients' day one sip at a time.
24. Mary Brown's Chicken
Year Founded: 1969
Franchising Initiated: 1969
Number of Franchise Outlets: 260+
Required Investment: from $840,000
Royalty Fee Required: 5%
Mary Brown’s Chicken isn’t just fried chicken; it’s a southern-inspired tradition with a Canadian twist. With every crunchy bite and savory seasoning, you’re tasting a legacy of flavor that’s as bold and unforgettable as the people who love it.
25. McDonald's
Year Founded: 1940
Franchising Initiated: 1955
Number of Franchise Outlets: 41,000+
Required Investment: $1,469,000-$2,503,000
Royalty Fee Required: 5%
McDonald’s isn’t just fast food; it’s a global phenomenon that brings smiles to billions. From the iconic Big Mac to the golden fries, each meal is a reminder that good times and great tastes are best enjoyed under the golden arches.
26. 7-Eleven
Year Founded: 1927
Franchising Initiated: 1964
Number of Franchise Outlets: around 84,000
Required Investment: $139,150-$1,384,000
Royalty Fee Required: varies
7-Eleven isn’t just a convenience store; it’s your 24/7 gateway to refreshment and convenience. From slurpees and snacks to essential household items, each visit is a chance to satisfy cravings and discover new favorites around every corner.
27. Subway
Year Founded: 1965
Franchising Initiated: 1974
Number of Franchise Outlets: 44,000+
Required Investment: $229,050-$522,300
Royalty Fee Required: 8%
Subway isn’t just a sandwich shop; it’s a journey of fresh flavors and endless combinations. With each sub, the customer is not just ordering lunch—he’s crafting a masterpiece of meats, cheeses, and veggies that’s as unique as he is.
28. Dairy Queen
Year Founded: 1940
Franchising Initiated: 1940
Number of Franchise Outlets: around 7,400
Required Investment: $1,511,200-$2,531,250
Royalty Fee Required: 4%
Dairy Queen isn’t just about ice cream; it’s a celebration of sweet moments and cool treats. From creamy blizzards to indulgent sundaes, each bite is a swirl of happiness that brings smiles and satisfaction, one spoonful at a time.
29. Pizza Hut
Year Founded: 1958
Franchising Initiated: 1959
Number of Franchise Outlets: 20,000+
Required Investment: $367,000-$2,063,500
Royalty Fee Required: 6%
Pizza Hut isn’t just pizza; it’s an experience that combines classic flavors with innovative twists. From stuffed crusts to gourmet toppings, every pizza is a slice of culinary craftsmanship that brings friends and families together for a feast of epic proportions.
How to buy a franchise in Canada?
Acquiring one of the most profitable franchises in Canada entails navigating through essential stages:
Exploration and Investigation: Commence by thoroughly exploring diverse franchise sale opportunities that resonate with your interests, skills, and financial capabilities.
Legal and Financial Scrutiny: Conduct a meticulous review of the franchise disclosure document (FDD), seeking guidance from legal and financial advisors to grasp the terms, fees, and responsibilities involved.
Negotiation and Agreement: Engage in negotiations with the franchisor, finalizing terms that satisfy both parties before formally signing the franchise agreement.
Preparation and Training: Undertake any mandatory training sessions provided by the franchisor to ensure preparedness for the franchise's launch and operational commencement.
Launch and Execution: Implement the franchise business plan, utilizing the support and tools offered by the franchisor, while upholding operational protocols and standards.
Conclusion
In 2024, Canada's landscape of the most profitable franchises presents a tapestry of prospects for ambitious entrepreneurs keen on forging their own business paths under established frameworks. Success hinges on astute assessments of brand eminence, market dynamics, and fiscal viability, empowering aspiring franchisees to carve their niche in Canada's dynamic economic arenas. Whether captivated by tech-driven innovations, health-forward offerings, or pioneering service providers, the essence lies in choosing a franchise that mirrors your zeal and complements your entrepreneurial aspirations. Take the step toward your professional future today and embrace the chance to flourish in Canada's thriving realm of the most profitable franchises.
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