March 8th is International Women’s Day and what better way for me to celebrate and honor women, than sharing some insight on women and franchising. Yes, women own franchises, and yes, they are thriving. Women today are taking control of their careers and finding their own paths through business ownership. Women own or co-own approximately 265,000 franchises which is about 35% of all U.S. franchises. That’s about a 24% rise from 10 years ago.
There is so much room for so many more women to follow suit!
Go Into Business For Yourself … Not By Yourself
So, what is it about franchising that has stirred female interest? And why are more and more women considering franchise ownership as a great fit? Of course, skills, interests, personality, are a few reasons but consider the following.
- Women are great organizers, can prioritize well and are detail orientated.
- Women can think quickly, manage and adapt where necessary.
- Women have strong networking and communication skills.
- Female business owners tend to be more financially conservative and willing to start small on their way to growing big.
Some reasons why owning a franchise makes sense for many women entrepreneurs:
Starting a business from scratch requires a lot of time, energy and money that many aspiring businesswomen may not have. One reason many women buy a franchise business is that they want the flexibility that comes with working for themselves BUT without the risk associated with establishing a business from scratch. Work-life balance is different for everyone. So whether you are looking to work more regular hours, to spend more time with the family, whether you want to have the freedom to come and go based on the demands of your children, whether you are looking for a business where you don’t need to be in the office every day, and so on, you will find that you have a choice of franchise opportunities that fit the lifestyle you are seeking.
You Determine The Culture
You are the CEO. Yes, you must abide the Franchise company’s values and policies, but you get to choose which Franchise has the right values and policies for you. You are then the person responsible for setting and enforcing these standards within your franchise unit and for creating your workplace culture. Franchise ownership allows many women to rid themselves of unwanted workplace discrimination and inequity for themselves, as women, as well as for their employees.
Following on from the previous paragraph – as a Franchisee you do not have someone determining your income for you and you are truly rid of any form of unfair discrimination in this regard. Your success and financial remuneration is a function of how well you run and operate your business, how well you can focus on growing your business and an on how well you can follow the proven franchise system. In short – you control your success.
You Are Never Alone
The Franchisor provides you with the ongoing support. The specifics differ from franchise to franchise, but typically this includes the operational support of a dedicated and experienced team, training, marketing support, systems & materials, operations systems and manuals, and so the list goes on.
Additionally, women are strongly supported by organizations such as the Small Business Administration (SBA), Women Franchise Committee (WFC), Association for Enterprise Opportunity (AEO) and Association of Women Business Centers (AWBC), to name a few. There are also established workshops, seminars, mentoring programs and funding opportunities for women interested in operating a franchise.
A Proven Franchising Business Model – The foundation of your success
The opportunities are endless. From fast casual restaurants to home services, and anything in between, the franchise world offers all types of franchising in many industries, making it widely appealing for all entrepreneurs. Women are no exception.
And what is more, is that in most cases the franchise business model is proven with a track record of success! Not only will Franchisors provide in-depth, ready-to-use information on how to successfully run and maintain your business, but the Franchisor also offers extensive blueprints with training, setup, and support plans giving you a clear outline for success.
Do What You Love
Besides being able to achieve the work-life balance that gives you the flexibility you are looking for to do what you love outside of work; you also get to do what you genuinely love when you are at work. Your passion to own and grow your business is crucial. If this is what you love, you are halfway there. However, franchising and business ownership is not for everyone. You need to ask yourself if you will genuinely love being a business owner.
You Grow Your Business and Your Wealth
Once you get established with your own franchise business, the franchise business model makes it easier to grow your business – not only through organic growth, but also through expanding into multiple locations.
No Experience Needed
For most Franchises you do not need to have any industry experience or business ownership experience. If you are passionate, have great leadership skills and a love for people, the company will teach you the rest. It is never too late to learn a new skill or polish an old one. Likewise, it is never too late to go into business for yourself.
The Satisfaction of Owning Your Own Business Is Priceless – If you dream it, you can do it!!
Are you a woman dreaming of being in business for yourself? I am a free resource to help you find the right fit franchise business to build a secure future for you and your family. My proven process is designed to provide you with franchise opportunities that align with your financial, lifestyle and personal goals. My commitment does not stop there. I will support and coach you through the entire discovery process until you either successfully start a franchise or decide that franchising is not right for you.
This is my passion, and I would love to help you transform your life and live your dream! There is no better way for me to honor women, this International Women’s Day.
Click on the link below to set up a free consultation.