31 Aug Women, Not Men, Are the Sharks of Franchising
Have you ever heard of Suzie McCafferty, Gemma Tumelty, Sherri Fishman, Shane Evans, and Christina Chambers? These are just some of the most powerful women in the franchising business. Like the saying goes, “what a man can do, a woman can also do”. These powerful women have not only proved this saying correct but have gone ahead to make their mark in the franchising industry. Their stories, works, and successes are great inspiration for women everywhere.
As the number of franchises in the UK keeps growing every year, we continue to see a good number of women entering the industry. In fact, it is estimated that as many as 30% of franchises in the UK are now run by women. The women in the industry have proven that women make great franchisees. In fact, a recent study showed that franchisors are now beginning to take notice of women’s success in the industry and are increasingly directing their recruitment efforts towards the female demographic.
Considering Starting a Business? Think Franchise!
If you are currently thinking about having your own business, buying a franchise is definitely worth considering. It is a great opportunity to own your own business and become successful irrespective of the stage of your life right now. A franchise business is a great opportunity for women. Since it doesn’t require much learning curve and you have a team for support and advice, you will definitely find it easy to succeed with franchise business more than any other business as a woman.
What is a Franchise?
Just to clear things up, let’s take a look at what a franchise business is all about in a very simple way and why you should consider buying one as a woman.
When you say someone is selling a franchise, it means that the person is giving you the exact strategy he is using to achieve success in his business. You are not expected to reinvent the wheel or start things afresh; you just need to copy the already established business formula.
The franchisor who have a successful model will teach you the franchisee everything you need to know about the business – he will give you the products, teach you how to get customers, how to deliver, how to provide customer service, in fact, everything that will ensure your success.
The franchisor will even allow you use his business name. In most cases, most of your customers won’t even know that they are not dealing with the main brand. This means you will be an extension of already established brand with loyal customers, isn’t that awesome?
A Franchise business is a good business opportunity and has proven to be one of the quickest ways women can succeed faster in having their own business.
Why Should You Consider Franchising as a Woman?
There are a lot of reasons why every woman that wants to be her own boss should definitely consider franchising. A survey by NatWest Bank in partnership with the British Franchise Association showed that the number of women operating franchises in the UK is increasing steadily and most of them are even experiencing faster growth more than their male counterparts.
Other Reasons to Consider a Franchise Business
- Established Business Model
You don’t have to start looking to establish a business model; you already have everything done for you. You just need to plug into the established system used by the franchisor.
- Established Customer Base
One reason why most new businesses fail is because they weren’t able to established loyal customer base. A franchisor already has a name and loyal customers. You will just be acting as an extension of the business.
Franchising is definitely cost-effective if put into consideration what it will cost you to start your own business from scratch. A franchise business has everything done for you. No need to start running around looking to start from scratch.
- Easier to Obtain Funding
Most banks are more than happy to give you the fund you need to start a franchise business. This is because they know that you are using their money for a business with a proven track record of success.
- Higher Likelihood of success
Since you will be joining an already established system in place, there is a higher likelihood of success. You just have to follow the system established by the franchisor and even steal his customers.
- Ongoing Support
Perhaps, this is one of the best benefits of a franchise business. Unlike a regular mom-and-pop business, you won’t be alone but have an established brand that is more than willing to provide you training and support.
Reasons Why Women Make Great Franchisees
There are some reasons why women are more likely to be successful in a franchise business. If you have one of the attributes listed below, then you definitely need to consider buying a franchise.
- Women Are Passionate
The great thing with most women is that they have a natural tendency to feel strong emotions towards what they do. Passion and enthusiasm are the two qualities that can help you as an entrepreneur. If you have these attributes, you will likely succeed in your business.
- Woman Make Great Organizers
If you can’t keep things organized, you might as well keep working for someone. Fortunately, most women have organization skills which are necessary for keeping a business running smoothly. Naturally, women tend to be more thorough in their actions than men. The ability to organize, prioritize, as well as delegate and think things through will make a business succeed both short and long-term.
- Women are Great at Multitasking
You just have to see some mothers to know that women are great at multitasking. A woman can be attending to three customers at the same time and even deal with the supplier over the phone at the same time and all of them will end up happy and satisfied.
- Women have Excellent Communication Skills
If you have excellent communication skills, there is no reason why you shouldn’t consider franchising. Excellent communication skill is the reason women are good as marketers or PR. This skill is important in dealing with a customer and in networking.
There is absolutely no reason why you shouldn’t consider franchising. If you are a woman, you have more chances of succeeding with this business model than starting everything from scratch. This is indeed a great period for female entrepreneurs, thanks to franchising.