Franchise businesses in B.C. continue to make up a significant segment of the provincial economy. The top 80 franchises in B.C. total more than 3,500 individual franchisees, which is approximately 5% of the total number of franchise locations in Canada based on information from the Canadian Franchise Association (CFA).
While service-based and retail store franchises make up 41% of the total number of franchise brands in B.C., they account for 26% of the total number of franchise locations. Quick-service restaurants dominate the franchise landscape, comprising 51% of all franchise locations in B.C.
Despite continued economic uncertainty, the franchise industry continues to grow. The CFA's Kenny Chan noted that the number of new franchise brands has grown approximately 10% over the past five years to 1,022 brands listed in its FranchiseCanada directory.
While Canadian industry data is not available, an International Franchise Association study released in May estimates that the number of franchise establishments will grow 1.7% in the U.S. this year following three years of declines since the global financial crisis.
