Unveiling of a major economic study - The franchise industry: a major development lever for Quebec and its regions Français
MONTREAL, Dec. 12, 2018 /CNW Telbec/ - The Quebec franchise industry, which accounts for nearly $60 billion in annual revenues, almost 10% of all jobs in Quebec - more than 405,000 direct and indirect jobs - and a 6% net annual growth rate in the number of franchisors between 2013 and 2016, is a powerful economic driver and key development factor in all regions, in very diverse sectors of activity.
This is illustrated by the results of a major economic study conducted by Raymond Chabot Grant Thornton on behalf of the Conseil québécois de la franchise (CQF), in collaboration with the Ministère de l'Économie et de l'Innovation, Fasken, and National Bank, which was unveiled this morning at a press conference in Montreal, before many dignitaries, industry and Quebec government representatives.
The unveiling of this major analysis, a first in Quebec in this hitherto underreported area of activity, confirms the importance of the franchise industry as employers, leaders of industry and a factor in economic and social development in all regions of Quebec.
As such, there are more than 400 franchisors, including major Canadian and international brands, but above all a majority of Quebec brands, such as Les Rôtisseries St-Hubert, Sports Experts, Énergie Cardio and Groupe MTY, all a part of the Quebec landscape. Most of the 15,500 franchised outlets throughout the province operate in the restaurant, health care and automotive sectors.
Moreover, the same study confirms the significance of several Quebec banners operating in the rest of Canada and internationally. Other aspects of the study also highlight the challenges facing the industry, such as labour shortages and the importance of pursuing the digital shift to adapt to new customer needs and increased competition.
In this context, the unveiling of the economic analysis will serve as an anchor for an information and positioning campaign designed to give Quebecers a better understanding of the critical role played by the franchise industry in the economic vitality and development of Quebec's regions.
Study highlights
- The franchise sector in Quebec contributes 5.6% to Quebec's GDP with revenues of nearly $60 billion per year;
- The industry creates nearly 10% of all jobs in Quebec, or more than 405,000 direct and indirect jobs in Quebec;
- There are nearly 450 franchisors, most of them Quebec banners, throughout the province.
Quote
"The Conseil québécois de la franchise is pleased to present this detailed, factual and complete portrait of the economic benefits generated by the vast franchise industry in Quebec. This data confirms the fundamental role of franchising in wealth creation in Quebec, particularly in terms of jobs throughout the territory, as well as the remarkable performance of this business model here and outside the province. Our industry is critical, but still too little known. The unveiling of this important analysis will serve as a springboard for its positioning and improved visibility."
Christian Champagne, President and Chief Executive Officer, Conseil québécois de la franchise
About the Conseil québécois de la franchise
Since 2004, the Conseil québécois de la franchise has brought together franchisors, franchisees and franchise-industry suppliers in Quebec. With more than 8,000 franchisees and over 450 franchisors, this is one of the most dynamic sectors of activity and a major contributor to job creation in the province.
@ConseilQuebecoisDeLaFranchise
@info_cqf
SOURCE Conseil québécois de la franchise
For further information: Simon Boiteau, TACT Intelligence-conseil, O. 514 667-0196, ext. 434, C. 514-506-5840, [email protected]
Share this article