Can humans be born with the hard-wiring to be successful at franchising? Is it a genetic intelligence that makes some people more successful than others at running a small business? These are some of the questions that tantalize us. We were fascinated to read a recent article explaining why women are natural born franchisees.
Allbusiness.com recently ran an interview with Mary Ellen Sheets, who started her franchising career way back in 1989 with Two Men and a Truck. Sheets explains the secret to her success in franchising in this article, which seems to come down in some part to her gender. As author Carrie Brenner says:
Women are natural networkers, a skill that’s fundamental to becoming a successful franchisee. Being the new business owner in town, explains Sheets, means going out into the community to introduce yourself and attending events. Women tend to be good at networking within the business community and sustaining support systems with both men and women. Women with a nurturing side tend to excel at customer service -- something on which a franchise’s success often depends.
An ability to manage people is also listed as a talent that many women bring to franchising. But before you female franchisees out there lose the run of yourself, Nikki Sells, a franchisee with Tasti D-Lite , lists one area that women franchisees can improve: finance. “Know how much money you have to invest, make sure your credit is really good, and make sure that you’ve got enough cash upfront to invest in the startup fees you need,” she says.
What do you think readers: are genetic predispositions towards franchising only exaggerating stereotypes or are they rooted in something real?