Through owning a franchise, the opportunities for building a life balance that includes successful business ownership is attainable. Believing in your abilities and with a proven track record of success, owning a franchise might be for you!
According to Joshua Sophy, assistant editor of smallbusinesstrends.com as of June 2018 the number of franchise businesses owned by women and minorities has never been higher in the United States. “It has a lot to do with the right franchise marketing approach.”
Having a proven system of success and built-in support, franchise ownership allows and supports women to start and grow a business almost immediately-. It is through franchise ownership that women can determine their path for personal and financial goals.
Statistics support the research:
As of June 2018, more than 25% of women are operating franchises in the world. This number doesn’t even include another 17% where men and women are operating businesses together as partners, according to the IFA.
In the past decade, there has been a significant increase in the number of women business owners. In the USA more than 11.6 million firms are owned by women, and female-owned businesses now account for 39% of all privately held firms. (Statistics from the American Express OPEN Report “The State of Women-Owned Businesses 2017”).
In 2018, women owned 37% of franchise locations, compared with 24% in 2008, according to Franchise Business Review.
WHY franchising?
The ability to invest in a company with a proven track record inspires women to own and operate franchises.
Franchise ownership provides an opportunity for women to work for themselves, but not by themselves.
Women choose business and work based on a purpose, often attracted by a product or service. They tend to be passionate about everything they do including the willingness to work hard, believe in themselves and their desire to give back making their community a better place.
Women are natural collaborators and use this approach in work and life situations: their natural leadership skills, ability to multi-task while building a business and enjoying a family, and their strong communication skills including the willingness to ask for help are supported by the franchise model.
Franchises are a proven business model of success and operation which includes brand recognition, a quality support structure, an established set of operating procedures, suggested vendors, human resource polices and other operational details. These built-in polices encourage women to take a risk. Women use their inspiration and leadership skills to get the most out of their people because they make it a family. Women organize, think quickly, improvise and network, promoting a positive, family-friendly business.
According to talentedladiesclub.com there are additional benefits for women considering owning a franchise:
– Flexibility: with many franchise businesses you can find one that fits the lifestyle you want.
– Using your existing talents, skills and interests honed over years in your career and raising a family will help you establish and lead a successful business. By owning a franchise, you will find an established and trusted brand where the franchisor has already taken the risk, testing and refining the business model.
– Being part of an established brand with a proven track record allows you to buy into a business with success with customers who trust and support what that brand stands for.
– You are never alone! You have the experience of the franchise brand behind you to establish yourself.
– You are in a network of franchises to network with. On-going operational support from an experienced team provides stability and ideas for growth. This includes training, operations manuals, proven procedures and a network that makes you feel like part of the team.
– Owning multiple locations once you are established provides the opportunity to increase income as a multi-franchise owner.
Through franchise ownership, women have the opportunity to build and maintain a successful career and choose the family life that best supports their vision. The right franchise ownership allows women to blend the two in a seamless way offering unique support and family-friendly business opportunities while they pursue their passions. Women can create a life they love meeting their personal and financial objectives.
Thinking about owning a Franchise? Take the first steps by using our Franchise Selection Tool.
