Why are women and franchising an excellent combination? Statistics continue to show that more and more women are turning to franchising for career prospects in various fields, and franchisors are seeking them out. Reasons for this include key ways that franchising suits women, flexibility and opportunities outside of a 9-5 career, and increased incentives for entrepreneurial minded individuals to invest in their future differently.
The increase in information specifically available to women franchise professionals is much needed, and Franchise Direct offers the Franchise Information Center with a section devoted to females in franchising. Some of the key resources women need when entering or navigating the franchise industry involve financing and support while developing their enterprise.
The Women in Franchising section includes a breakdown of financing and assistance resources, including government agencies and associations focused on supporting female entrepreneurs, whether entering franchising or opening a small business. Familiarity with the legal aspects of running a business is invaluable and mentoring/training programs are available to women, to better prepare them for building and sustaining a healthy business that acquires a fair presence in their particular market.
Speaking with other female business operators that decided to take the plunge into franchise investment is a great way for interested potential entrepreneurs to step into the shoes of others and learn more about the everyday routines that make a business thrive. Case studies and insider tips are valuable for this reason. Women interested in franchising can connect with Colleen Hopkins, a Zoup! franchisee who shares her story of opening a franchise, and read up on ten key points for women entering franchising, straight from the minds of successful female franchise operators.
Now more than ever women need trustworthy information and resources that they can rely on to better understand just how compatible franchising is with the lives of women and the ins and outs of franchise industry opportunities. From home-based options allowing women to set their schedule and work from home, to operating franchises in hundreds of sectors suited to their unique interests, talents, and investment potential, the franchise world is full of potential for women who choose to investigate further. Many simply have not yet been exposed to the variety of opportunities that exist. Franchise Direct invites women interested in franchising to explore this section of the site dedicated to their self development.
One of the greatest concerns for female business owners is acquiring the support and industry play time necessary to make a healthy business last, which means access to funding and mentoring support to increase total industry sales alongside competitors. Naturally these aspects of running a business are important for any business operator regardless of gender, yet women business operation is currently on the upswing and support for female small business owners is focused on gaining an even stronger foothold in any given industry.
Some of the specific hurdles facing female businesses surround the time consuming task of establishing their business in any given market to garner enough attention, respect, and credibility to allow the business to steadily grow. New small businesses operated by women, whether initially founded and operated by women or acquired through entering a franchise partnership, face the significant challenge of ascending the ranks alongside established competitors in the same market. The challenges associated with this are varied and often unique to women, though not always. Despite a growing number of female operated small businesses, with an increase of over 200,000 in 2012, it is clear that contending with existing market key players and developing strategies to increase the visibility of their business remains a challenge when bottom line figures of female operated businesses are analyzed each year.
Due to the strain that such economic disadvantage can place on female operated small businesses, a number of opportunities have developed with time for the sole purpose of supporting women in business, which obviously in turn supports a diverse and robust economy. Even within the last two years changes such as the federal contracting allowance that enables federal agencies to reserve certain contracts specifically for women operated small businesses are working to adjust the playing field for female business owners. Business owners must first establish eligibility, which includes criterion of economic disadvantage, 51% owned by women and managed by women, as well as US citizenship and small business definition requirements.
In addition to changes such as this, women can avail of different programs, courses, and counseling through the SBA which has taken serious steps to enable this growth of female operated businesses to continue, which is the most rapidly expanding area of the US economy, generating jobs and variety in business ownership. More information can be found here concerning one federal agency involved in this effort, the Department of Homeland Security, as well as through the SBA website directly.
It’s International Women’s Day today and we’d like to take an opportunity to celebrate the role that women play in our lives, especially in the world of franchising.
It’s impossible to fully capture the huge contribution women have made to the evolution of franchising in one blog post. Whether its the head of franchise organizations like Caterine Monson of FASTSIGNS and Dina Dwyer-Owens of the Dwyer Group, or the countless female franchisees up and the country who are realizing their business ambitions with a franchise, franchising has provided a great platform for women to prove their brilliance in business and overall wisdom. If you’re a woman considering a franchise opportunity, follow this link for franchise opportunities that are perfect for women.
You’d like a great infographic on the ways women are smashing the glass ceiling in business, we recommend you follow this link.
The timing is, of course, perfect for Joel Libava, the Franchise King, to launch his ‘One Woman, One Franchise’ contest. At the moment, Libava is searching for a woman who’s on the verge of investing in a franchise. If he chooses you, you’ll work exclusively with the King for free to get your franchise off the ground. This is an excellent contest for any woman serious about owning a franchise.
Many people are curious about franchising, but purchasing a business can be such a daunting proposition that few know where to begin.
Google is the first place many people start. It was where Demetra Navab Talghani began for her article this week on franchising in the Kansas City Star. Talghani writes a column for hybrid moms in the paper, and recently dealt with the question of mothers researching information on buying a franchise simply by doing some research on world’s favorite search engine.
She admits to being amazed by the sheer amount of information on franchises, but did find some valuable information on a franchise portal called Franchise Direct, “which easily allows you to search through their franchise directory containing listings of opportunities divided by industry, investment and location. Franchise Direct lists many low-cost franchises that require minimal investment but are among the most profitable franchises offered today.”
Talghani goes on to recommend a number of low-cost franchises that would interest women. We wholeheartedly agree with her call for mothers to start their own franchise:
“Mom’s are a driving force in the economy blending people skills with organizational mastery and multi-task, the same skills of a successful entrepreneur,” she wrote.
Of course, women, and mothers in particular, who are serious about purchasing a franchise should start their search with Franchise Direct.
Earlier this week we discussed the advantages of franchising versus entrepreneurship. We’d like to continue this discussion, just from a different angle. A leading American university has conducted a very insightful study on the effect of gender stereotypes in molding entrepreneurial opportunities, and the study supports our feeling that franchising offers women (and men) the best path to successful business ownership.
Baylor University’s Entrepreneurship Theory and Practice Journal published a paper called “The Role of Gender Stereotypes in Perceptions of Entrepreneurs and Intentions to Become an Entrepreneur”. Four researchers collaborated on the study which aimed to find out how gender perceptions are thrust into the field of entrepreneurship and shape the opportunities available for men and women.
This highly academic study found that a majority of entrepreneurs see entrepreneurship as a masculine profession mastered by people who possess typically male attributes like aggressiveness and independence. Because of the huge gap between men and women as entrepreneurs across the world, the authors of the study present the hypothesis that entrepreneurship is essentially a masculine field.
Their findings are certainly notable. The authors find that a majority of both sexes see entrepreneurship as a masculine field and those who found themselves to be more masculine had higher entrepreneurial intentions. They also found that women, but not men, find entrepreneurship to possess both masculine and feminine traits.
There are some interesting implications to this study. For one, while many women might aspire to be the next Martha Stewart, the perception that the world of entrepreneurship is a male domain may hinder their ability to get financial backing or capital, especially from other men. While many women have broken through the glass ceiling, this study shows that many gender stereotypes continue to linger.
That said, for women who want to own their own business, a franchise offers a very convenient way to cut through the stereotypes and the bias. If you can cover the franchise fee, the keys to the business will be yours and it will be your work ethic and your drive that will determine the success of your business, not your gender. There are a number of franchisors that are outwardly seeking women. If you’d like to learn about franchise opportunities for women, Franchise Direct is an invaluable resource on this and all matters pertaining to franchising.