86 Canadian Franchise Association http://www.cfa.ca | http://www.LookforaFranchise.caflow. Your cash flow should include start-up costs like
insurance, office furnishings, building a website, legal
fees, etc. It should also include a sales forecast, where
you’ll make educated assumptions of how much you’ll
charge, seasonal variations, major initiatives, etc. and
how they relate to your monthly sales figures. Your cash
flow will show the money that enters and leaves your
bank account on a monthly basis, and give you a bet-
ter idea of your finances. Don’t forget to think about how
much you’ll need to live, too!
TIP: Futurpreneur has an easy-to-use cash flow tem-
plate you can download at: http://www.futurpreneur.ca/en/
resourcesYou can’t do it alone
Starting a business can have you being pulled in a mil-
lion different directions, pulling all-nighters, and losing
sight of why you even started in the first place. Being
an entrepreneur is a hard job; it takes hard work, dedi-
cation, and a willingness to know when to ask for help,
because you can’t do it all on your own. Eventually, you’lllearn that there are aspects of your business that aren’t
your specialty, or you’ll learn that you just don’t have
the ability to physically do it all by yourself. Remember,
asking for help isn’t a bad thing. In fact, when you finally
do, you’ll probably wonder why you didn’t do it sooner.Get yourself a mentor
A mentor can be one of your most valuable business
assets. It’s proven that small business owners with
a mentor statistically succeed longer than the aver-
age business. A mentor can provide valuable business
advice from their own personal experience, and can be a
second set of ears and voice of reason when you need it.
By having someone that you can regularly check in and
meet with, you’ll hold yourself accountable for different
aspects of your business that you otherwise may let slip
to the sidelines.
TIP: Futurpreneur matches all entrepreneurs that are
part of their start-up program with a mentor for up to two
years. The Canadian Franchise Association (CFA) also
provides a mentorship program for its members. Details
about the Zor-2-Zor Men-
tor Program can be found
at http://www.cfa.ca/member-
services/zor-2-zor-mentor-
program/So you have a great idea
or think entrepreneurship
might be for you? That’s
great! Entrepreneurs are a
strong part of what shapes
Canada into the fantastic
country it is today. They
help create jobs, build our
economy, and make us
love the cities and towns
we live in. Now that you
know some of the things
you need to think through
once you have your “big
idea,” we hope we’ve set
you on the right foot for
This advertisement does not constitute an offer of a franchise. A franchise offering can be made by us only after we provide you with getting started.
an appropriate Canadian disclosure document (as applicable in each province). Franchises may not be available in all provinces.Millennials in Franchising
About Futurpreneur Canada
Futurpreneur Canada has been fuelling the entrepreneurial passions of
enterprising young Canadians since 1996. It’s the only national, non-profit
organization that provides financing, mentoring, and support tools to aspiring business owners aged 18-39 –
10,000 to date. The internationally recognized mentoring program matches young entrepreneurs with a business
expert from a network of almost 3,000 volunteer mentors.