The future is bright for women in franchising. In many ways, women are more successful in franchising due to the skills women possess, from their organisation skills and their ability to prioritise to their networking and interpersonal management styles.
The National Women’s Business Council estimates that there are more than 821,000 female entrepreneurs in Canada. Do you want to be one of them?
Consider these ten things for women wanting to become franchisees:
- Women must be willing to start in what is traditionally considered a man’s world, but there are many examples of inspiring female franchisees and franchisors that are succeeding within the industry.
- Consider what will or won’t work for your personal goals and wants when your current lifestyle and your potential franchise obligations come together.
- Network, network, network. Women have a special touch with communication skills, so use that to the best of your ability when networking with industry leaders, other franchisees, and the franchisor.
- Use your skills and your passions to your advantage. Franchising is a diverse industry, and you’re sure to find something that you’re not only good at but that you’ll love doing day in and day out.
- If you plan on entering into a particular industry for the first time, learn all you can about the industry first. This will you the best possible advantage to succeeding as a franchisee.
- Don’t be afraid to take risks. The National Women’s Business Council estimates that 66% of women business owners are prepared to take high risks when it comes to their business investments.
- Don’t be afraid of failure. Great things can come from great failures. You learn more about yourself and your business from your failures than you do from your successes.
- Know your financial standing and how much you can invest. You can start small and grow your business bigger as you are able.
- Investigate your options. There are plenty of organisations out there dedicated to women in franchising, helping women invest in business, and guiding you through the franchising process in general.
- Never take no for an answer. Women are natural problem solvers, and this will come in handy within the franchise operation.
Franchising offers a tremendous opportunity for ambitious women to start their own business and succeed. Franchising is good for women, and women are good for franchising; it’s a very successful combination!
Find franchises for women here.