Every day in the United States, women start about 850 new businesses. With equal rights at the forefront of the nation’s cultural conversation, women are becoming more and more empowered to pursue their passions, dreams, and ambitions, including business ownership.
Entrepreneurship is a gateway for women looking to advance their careers, while living an even work-life balance. Many women see entrepreneurship as a way to continue working, while taking time to care for families. However, many don’t understand how difficult a business can be to start. It requires long hours initially, lots of heart, and extreme dedication. For some, starting from scratch is too much.
Women in Franchising
There are alternatives for women looking to become entrepreneurs with a simpler start-up process and support systems in place. One such example is franchising. The franchise industry has seen rapid growth in terms of women-owned franchises; currently counting 30% of franchises as owned by women.
Franchising offers women who are looking to pursue entrepreneurship a guideline and a simple process to follow. Women get to be their own bosses, while having the support and resources of an established system.
There are many different types of franchises available, including restaurant ownership, service brands, health and wellness, beauty, and more. There is something for everyone, giving women the perfect opportunity to pursue their passions.
Why Women Make Great Franchisors/Franchisees
While franchising offers women several benefits, women are also well-suited for franchise ownership. Generally speaking, women tend to be more organized and have a strong attention to detail, helping them effectively run all aspects of a business.
While franchise owners are part of a system, they are still their local shop’s owner. They have to manage all aspects of the business, outside of corporate’s responsibilities (some franchisors offer payroll support, marketing, etc.), and it’s key to have an organized owner for success. Along with that, women are more likely to follow the franchisor’s processes and recommendations, which helps set them up for a higher chance of success.
Women, again generally speaking, are nurturers. They’re approachable, excellent communicators, and possess strong networking skills. As an emerging local business owner, it’s vital to connect with key members in the community, including officials, other business owners, and customers. Networking skills aid franchise owners in building a brand in a new or existing market.
Having high caliber communication skills is one of the qualities that make women most effective as entrepreneurs and is another reason why this career field is suited for more women. Overall, women are strong entrepreneurs and make successful franchise owners.
Further, as nurturers and organizers, women can see things logically, while also empathizing with others involved in a decision. Women analyze every angle of a situation. All of this makes them competent decision-makers. Women are also wonderful multitaskers, making them more productive and able to balance all that is involved with running a franchise operation.
Advice for Women in Franchising
While women are strongly suited for business ownership, there are challenges they’ll face. One of the challenges most franchise owners face is raising awareness.
One of the best ways I’ve found is through community events. This is where women can put their communication skills to work. Connect with community organizations, host events with schools, and reach out to local influencers. You want to communicate that you’re an active member of the community, not just there to make a profit.
Additionally, women can use their communication skills to effectively manage employees, which is another challenge many franchise owners face. Understanding your employees can help mitigate conflicts.
I also advise all entrepreneurs to be ethical in all decision-making, and treat people as you want to be treated. Don’t get caught up in bad business practices or the prestige of being an entrepreneur. Stay humble, work hard, and focus on your natural talents.
Men and women, alike, make wonderful entrepreneurs, and each gender possesses a unique set of skills to set them up for success. Women can lean on their nurturing tendencies, empathetic nature, and natural communication skills. Women can also rely on their organizational capacities, driven work ethic, and multitasking abilities to help them realize their entrepreneurial dreams and ambitions.
About the Author
Debbie Roxarzade has been a leader in the restaurant industry for more than 20 years. Today, she serves as the founder and CEO of Rachel’s Kitchen, and she is based in Las Vegas.