Self-employment
Business, Franchise & Investment Expo coming to TorontoCan’t find a job, why not create one?Self-employment has been steadily increasing in Canada over the last 30 years, growing to 2.7 million in 2009 from 1.4 million in 1981. Sharon Aschaiek, Special to QMI Agency |
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The growing number of people wanting to take their work life into their own hands, or seeking to switch career gears after experiencing job loss or underemployment won’t want to miss the Business, Franchise & Investment Expo.
The fourth instalment of this massive event, which will take place on May 1 and 2 at the CNE’s Queen Elizabeth Building in Toronto, will showcase an extensive range of opportunities for those considering self-employment.
“This expo is for anyone interested in making more money, who’s thinking about being an entrepreneur, and who would like to have more control over their destiny. If you can’t find a great job, why not create one for yourself?” says, Pamela Greiner-Labelle, president of The Business Exchange, the business magazine publisher that produces the expo.
About 140 exhibitors will be at the show, representing franchises and independent companies offering both brick-and-mortar as well as home-based business opportunities. Eggsmart, 241 Pizza, Xocai – The Healthy Chocolate, and Travel Professional International are companies that will be exhibiting, as well as realtors selling already established independent businesses and franchise locations. Most exhibitors will be representing opportunities requiring an investment of between $100,000 and $200,000.
As well, several free seminars will focus on finding the right business for you, legal considerations before buying a business or franchise, and other major self-employment considerations.
Greiner-Labelle says those considering attending the show should have a clear idea about the responsibilities and benefits of becoming an entrepreneur.
“The most important thing is to be passionate about the business opportunity you have in mind,” Greiner-Labelle. “You have to love coming in to work every day in order to stay motivated enough to make it succeed.”
She says it’s important to know how much risk you can tolerate, and how much control you want over your business. For example, she says, starting a new business from scratch involves greater risks but also affords greater control, while opening a franchise location of an established company entails less risk but also less involvement in major business decisions.
Another key factor aspiring entrepreneurs should consider, Greiner-Labelle says, is cost — both whether they can afford to purchase a business, and whether they have enough money to sustain themselves until their new business breaks even and becomes profitable.
Running your own business calls for a lot of investment of personal time and energy, she says, but the more you put into it, the more you’ll get out of it.
“If you want to be successful, you have to work hard — you have to dedicate more time than someone who works nine to five,” she says. “But it can pay off nicely. If you work for someone else, it doesn’t matter how much effort you put in — you’re usually paid the same. But if you put 150% percent into your business, you’ll get 150% back.”
Greiner-Labelle advises expo attendees to thoroughly research the business opportunities they come across that appeal to them, and to use a team of professionals, including a lawyer, accountant, banker and probably a realtor, to effectively facilitate any business purchase.
“These professionals can potentially save you thousands of dollars, ensuring that you don’t overpay for a business and that the financial statements look accurate. They can also help with financing, and review the sale agreement and lease, to name a few things,” she says.
Expected to attract about 4,000 visitors, the Business, Franchise & Investment Expo will cost $15 at the door, but is free for those who pre-register online at www.businessexchange.ca/visitor-info1.html.
sharon@cocoamedia.ca
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