dairy queen Canada bankrupt
dairy queen Canada bankrupt
To everyone who is planning to franchise or is already in a business franchise, I want to remind of the most of important analysis in your business plan that is demographics. What’s a demographic you ask ?? well, I won’t give you the dictionary definition but I’ll explain in a simplified way what that does and what it is;Its an analysis that is made part of your business plan that shows you how many people live in a specific area, what age groups are they, what they are interested in, how much they make in an average year, and what the populations characteristics are like. Its like a survey but in the form of an analyzed research, the reason I say this is the most important thing in franchising is because all countries are different, maybe in American people like fast food but in Canada they are vegetarians so I can’t open a McDonald’s restaurant in Canada because nothing will sell, unless you change things around and turn the Canadian McDonald’s into a vegetarian restaurant to match the needs for Canada’s population.
The other day, I was reading in the newspaper about a dairy queen Canada bankrupt, the author that wrote it went on and on about the location of this dairy queen and was arguing that it should have been planned for in a more efficient way, and that now American Ice-cream doesn’t meet Canada’s needs making the franchiser look bad for taking a simple chance, not because dairy queen is a famous brand name, that the press would be all negative about it. So many businesses are created and fail that’s normal, opening your own business is risky and everyone knows that, we must accept failure in order to raise the stacks for others who have need ideas to propose to the world. So, I posted a comment on the website for that newspaper saying that its not all about location maybe it was a a problem in the analyzed research.
I got an email reply to my comment form editor of the paper asking me if I would like to debate this dairy queen Canada bankrupt situation, I agreed just to open peoples eyes that its not all about location, the businesses that go bankrupt always fall back due to analysis and the most important is the demographic because its the only thing that shapes your business and the products you’ll be selling in it.
