London Inc. Early Summer 2024 - 13

Woodfi eld Centre
with that investment, " Smithson
says. " When I talk to them, I'm often
surprised at the maturity they have in
their outlook. They'll say to me, 'I saw
my dad get laid off twice and struggle
to get a job,' or 'I know I'm just a number
at the company I'm working for
right now and I want more than that.'
They're making an entrepreneurial
decision earlier in their career than
people used to. "
Immigration, too, is driving a lot
of the franchise boom right now,
Smithson says. Franchises can often
make for convenient, turnkey ways
to invest in a Canadian business, he
explains, which has advantages in
securing entrepreneurial visas.
And then there's the where. Growth
in franchising is following growth in
the rest of London, which is to say a
lot of it is concentrated in the city's
periphery areas.
" Franchisors
are
looking
for
available space, but also where the
demographics are telling them their
clients are, " Smithson says. " In
London, we've seen rapid growth in
the west end, the north, the south,
we've seen it in the northeast. If you
drive through east London, down
Dundas Street out past Clarke Road
- that whole area is full of different
franchises and small businesses. "
For all the changes in demographics
and geography, though, Smithson says
the motivators for franchisees are
essentially the same as they always
have been. " We work with people
who have decided they want to own
their own business, for all kinds of
reasons, " he says. " They don't want to
work for someone else anymore, they
want that control, or they're making a
lifestyle decision. "
The result, from Smithson's perspective,
is a dynamic and colourful
franchise sector with a bright future.
" There are a lot of really interesting
franchises that I get to work with, " he
says. " And interesting franchisees
that have taken a risk on achieving a
dream - and winning. It's great to
see. "
KIERAN DELAMONT
EARLY SUMMER 2024 | londonincmagazine.ca | 13
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London Inc. Early Summer 2024

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