The inside edge. You want it, we have it! Have we got some tips and secrets to share with you?
We’re talking about financing your franchise – the successful completion of your entrepreneurial dream in Canada. As a franchisee, you want to be aware of your options in loans and funding programs that are geared specifically to financing a startup business in the booming franchise industry.
We’re going to discuss 4 key elements of a proven formula for franchise success. What are they? Simply speaking it’s ensuring you have a business plan that accurately resembles the financial aspects of your business. Number two is the type of emphasis that is put on your background and credit history. Number 3 is the knowledge of franchise financing options in Canada, and number 4, (often # 1 in your mind probably) the number of personal funds you have to commit or invest to get your business going and your franchisee funding approved.
Let’s dig in! OPM. What is it? It stands for other people’s money and it’s critical you understand that a franchise is composed of two elements concerning your financing plan – debt (what you borrow) and equity (what you put in). Our key point here is simply that while there is no proper mix of what works for the combination of those two elements. No franchise is financed with 100% borrowed funds – conversely, you don’t want to ‘ pay cash ‘ for your business and risk all, or a lot of everything you own (house, savings, etc.) for a start up a business such as a franchise.
We will also share with you that some of the very specialized franchisee loan programs in Canada typically require a 30 – 40% owner equity, or down payment. That can be achieved in several different ways.
Should you tap into your retirement plans to fund your franchise? That’s not our call, but if you have capital outside your savings we would not recommend collapsing RRSPs, or taking out home mortgages, etc. for financing and funding your franchise.
Clients often ask how their personal credit history affects their ability to get franchise financing. In general, we can say it’s a key point in the whole approval process. Many Canadians aren’t aware that the entire credit history system in Canada is based on a simple score. You should have a score of at least 650 to be successful in traditional franchise finance. So check your score in advance. And by the way, higher is better!
The business plan is a key element of your whole package. Many clients don’t have the experience or financial acumen to prepare a proper plan. Not a problem as you can seek a Canadian business financing advisor, or accountant, etc. to prepare your plan. A good basic plan comes at a very reasonable cost.
The business plan is your ‘ total picture ‘of your franchise. Basic elements are yourself, your background and business or industry experience, info on your franchise, and some basic financial projections. Naturally the better recognized and successful your brand the more attractive you’re perceived chances of success are.
As a franchisee what loans and funding are available in Canada. As unbelievable as it may seem the government of Canada, via Industry Canada, is one of the largest players in your franchise success. A program called the BIL / CSBF program is hugely popular and finances mot franchises fewer than 350k in Canada. We strongly recommend you seek out and investigate this program, it’s probably the key to 95% of our client’s success in financing a franchise with funding that comes with great rates, terms and structures, and limited guarantees. Bottom line, check it out!
So there you have it, 4 key elements, and secrets if you will, to franchise financing success. Summarized… a solid business plan, some good business or industry experience coupled with a reasonable personal credit history, a down payment that is aligned to your overall financing needs and personal situation, and, last but not least, knowledge of programs such as the BIL which are geared toward franchise finance success.
Feds hoping for AstraZeneca shots this week as Pfizer-BioNTech prepare next delivery – CTV News
The federal government hopes to start receiving doses of AstraZeneca’s recently approved COVID-19 vaccine this week as the flood of shots that flowed into Canada from Pfizer-BioNTech and Moderna last week partially subsides.
Health Canada announced on Friday that it had approved the AstraZeneca vaccine, the third COVID-19 shot to have received regulatory approval since the start of the pandemic.
Canada has ordered 24 million doses of the vaccine, with the majority to be delivered from the United States between April and September.
But two million jabs have been ordered from the Serum Institute of India, and Verity Pharmaceuticals, which is facilitating the institute’s application in Canada, has said the first 500,000 would reach Canadian shores this week.
A senior government official told The Canadian Press on background Sunday that the first of those doses could start to arrive in Canada as early as Wednesday, though the shipment has not been confirmed.
Dr. Supriya Sharma, the chief medical adviser at Health Canada, also told the CBC on Sunday that the regulator had received additional information over the weekend from Johnson and Johnson, which is seeking approval for its own vaccine. Regulators in the U.S. gave it the green light over the weekend.
Sharma said Health Canada is hoping to approve Johnson & Johnson’s vaccine in “the next couple of weeks,” but added any decision is contingent on the information presented by the company.
As it stands now, the Public Health Agency of Canada is currently only expecting delivery of about 445,000 vaccine doses this week, which is about 200,000 less than last week’s record high of 640,000 doses in a seven-day period.
The confirmed doses are all coming from Pfizer-BioNTech, as the two companies settle into a rhythm following a month-long delivery lull in January and much of February due to production upgrades in Europe. The pharmaceutical giants have pledged to deliver 4 million doses by the end of March.
Canada received 168,000 doses of Moderna’s vaccine last week, but the company only delivers every three weeks.
Clinical trials showed the AstraZeneca vaccine to be less effective at preventing infection than the other two, but it is still keeping people from getting very sick or dying, Sharma said Friday.
Pfizer and Moderna both reported their products were 95 per cent effective in preventing COVID-19 infections in immunized patients compared to those who received a placebo. Efficacy of the AstraZeneca vaccine is believed to be around 62 per cent.
It’s not entirely clear yet how provinces and territories will incorporate the AstraZeneca vaccine into their inoculation efforts, but the product offers a more flexible option since shots can be shipped and stored in refrigerators rather than freezers.
AstraZeneca vaccines are to be given in two doses between four and 12 weeks apart. Sharma said there is some indication that waiting longer for a follow-up jab leads to a better response, but that data is not yet complete.
There have been some concerns raised about the AstraZeneca vaccine in recent weeks, including its effectiveness against virus variants of concern and whether there is enough data to show it works on older recipients.
Several European countries, including Germany and France, limited AstraZeneca’s vaccine to residents under the age of 65.
Sharma said there were a limited number of people over 65 involved in the clinical trials, but that data, coupled with the real-world experience in the United Kingdom, shows strong evidence seniors are protected.
Canada’s vaccine program is ramping up after the lengthy slowdown in deliveries.
More than 300,000 people were vaccinated in the last week, almost one-fifth of the total doses injected since the first immunizations began Dec. 14.
About 700,000 people had received one dose as of Friday afternoon, and more than 500,000 are now fully vaccinated with two doses.
Quebec is set to expand its vaccination effort to the general public on Monday by allowing seniors 85 or older to begin booking appointments. The age threshold has been lowered to 80 for seniors in the Montreal area.
The AstraZeneca vaccine works differently than the other two already in use in Canada.
Both Pfizer-BioNTech and Moderna use messenger RNA technology, using RNA encoded with the piece of the SARS-CoV-2 virus known as the spike protein. The mRNA trains the body to fight off a COVID-19 infection.
AstraZeneca is a viral vector vaccine, which takes a cold virus, modifies it so it can’t reproduce itself, and adds the SARS-CoV-2 spike protein. When injected, it too provokes the body to develop infection-fighting antibodies and cells to combat the virus.
This report by The Canadian Press was first published Feb
What you need to know about COVID-19 in Ottawa on Monday, March 1 – CBC.ca
What’s the latest?
Details of how to book a COVID-19 vaccine appointment and where to go for that vaccine in Ottawa should be released today. Vaccines for those over age 80 in specific Ottawa neighbourhoods begin Friday.
Ontario’s website for booking COVID-19 vaccination appointments will begin a “soft launch” in six public health units this week, three of them in eastern Ontario. The wide launch is expected March 15.
The two main Canadian agencies that prepare puppies for a life guiding people with visual impairments say the unrealistic times of the pandemic won’t prevent them from turning out well-prepared guide dog.
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How many cases are there?
As of Sunday, 14,705 Ottawa residents have tested positive for COVID-19 since the start of the pandemic. There are currently 504 known active cases, 13,762 resolved cases and 439 deaths.
Public health officials have reported more than 26,100 COVID-19 cases across eastern Ontario and western Quebec, including more than 24,500 resolved cases.
Elsewhere in eastern Ontario, 130 people have died of COVID-19, and 160 people have died in western Quebec.
Akwesasne has had more than 240 residents test positive on the Canadian side of the border and seven deaths. Kitigan Zibi has had 21 confirmed cases and Tyendinaga Mohawk Territory has had six, with one death.
What can I do?
Restaurants, gyms, personal care services, theatres and non-essential businesses are open across eastern Ontario. Most sports can also resume.
Social gatherings can have up to 10 people indoors or 25 people outdoors. Organized events can be larger.
People are asked to only have close contact with people they live with, be masked and distanced for all other in-person contact and only travel for essential reasons, especially between differently coloured zones.
Both Ottawa Public Health (OPH) and the EOHU are orange under the province’s colour-coded pandemic scale.
Renfrew County’s health unit has given multiple warnings that private gatherings are a problem and could cause stricter rules.
That area’s new curfew hours are 9:30 p.m. until 5 a.m.
Like in Ontario, people are asked not to see anyone they don’t live with in person and travel from one region of Quebec to another is discouraged.
Distancing and isolating
This means it is important to take precautions now and in the months to come like staying home while symptomatic — and getting help with costs if needed — keeping hands and frequently touched surfaces clean and maintaining distance from anyone you don’t live with, even with a mask on.
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OPH says residents should also wear masks outside their homes whenever possible.
Anyone with COVID-19 symptoms should self-isolate, as should those who’ve been ordered to do so by their public health unit. The length varies in Quebec and Ontario; the latter recently updated its rules, including in schools.
Health Canada recommends older adults and people with underlying medical conditions and/or weakened immune systems stay home as much as possible and get help with errands.
Symptoms and vaccines
COVID-19 can range from a cold-like illness to a severe lung infection, with common symptoms including fever, a cough, vomiting and loss of taste or smell. Children can develop a rash.
If you have severe symptoms, call 911.
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About 81,700 doses have been given out since mid-December, including about 49,100 doses in Ottawa and 13,300 in western Quebec.
Ontario’s first doses generally went to care home residents and health-care workers. and it’s now expanding.
Ontarians who are eligible can book appointments online or over the phone starting March 15. Vaccines are expected to be widely available in August.
Local health units have some flexibility in the larger framework, so check with them for specifics.
More details on those logistics are expected today.
Reminder: we are currently using automated phone calls to contact Ottawa’s home-care patients in some higher-priority neighbourhoods who are soon able to get their vaccine.<br><br>If you get a call, kindly answer & follow the instructions. Thank you. <a href=”https://t.co/oVsPNDAhNU”>https://t.co/oVsPNDAhNU</a> <a href=”https://t.co/877neMALl3″>pic.twitter.com/877neMALl3</a>
Many eastern Ontario vaccine clinic locations are in the same communities as test sites and none are open yet for the general public.
WATCH | Why you’re asked to not cherry-pick vaccines:
Quebec is giving a single dose to as many people as possible, starting with people in care homes and health-care workers.
It moves to older adults outside care homes starting March 10 in western Quebec’s six clinics, then essential workers and finally the general public. People who qualify can make an appointment online or over the phone.
Quebecers should get their second dose within 90 days.
Where to get tested
In eastern Ontario:
Anyone seeking a test should book an appointment.
People without symptoms but who are part of the province’s targeted testing strategy can make an appointment at select pharmacies. Travellers who need a test have very few local options to pay for one.
The Eastern Ontario Health Unit has sites in Alexandria, Casselman, Cornwall, Hawkesbury, Rockland and Winchester.
People can arrange a test in Picton over the phone or in Bancroft, Belleville and Trenton, where online booking is preferred.
Renfrew County test clinic locations are posted weekly. Residents can also call their family doctor or 1-844-727-6404 with health questions.
In western Quebec:
Tests are strongly recommended for people with symptoms and their contacts.
There are recurring clinics by appointment in communities such as Maniwaki and Petite-Nation.
Call 1-877-644-4545 with questions, including if walk-in testing is available nearby.
First Nations, Inuit and Métis:
Anyone returning to the community on the Canadian side of the international border who’s been farther than 160 kilometres away — or visited Montreal — for non-essential reasons is asked to self-isolate for 14 days.
Inuit in Ottawa can call the Akausivik Inuit Family Health Team at 613-740-0999 for service, including testing and now vaccines, in Inuktitut or English on weekdays.
For more information
Key COVID-19 numbers in the Ottawa area today – CBC.ca
- Ottawa is reporting 55 new cases of COVID-19 on Sunday.
- Another 25 cases recorded in western Quebec.
Today’s Ottawa update
Ottawa Public Health (OPH) recorded 55 new cases of COVID-19 on Sunday but zero deaths.
Another 39 cases have been classified as resolved.
Ottawa and communities under the Eastern Ontario Health Unit (EOHU) are now in the orange alert level, with slightly more restrictive rules than the rest of eastern Ontario, which is green.
Numbers to watch
33.8: The weekly incidence rate, a rolling seven-day total of new COVID-19 cases expressed per 100,000 residents. The red zone threshold is 40.
.98: The number of people infected by a single COVID-19 case, or R(t). Health officials consider the spread under control if it’s below one.
34: The number of outbreaks in Ottawa.
504: The number of known active COVID-19 cases in Ottawa. One month ago there were more than 1,200.
Across the region
In western Quebec, another 25 cases were reported on Sunday but no new deaths.
Coronavirus: What's happening in Canada and around the world on Monday – CBC.ca
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