It’s surprising that only 25% of franchises are owned by women. They make great business owners, and franchises are a good fit for many. If you’re a woman considering buying a franchise, here’s why you absolutely should.
Women are Realistic About the Risks They Take
It shocked me to learn that 87% of women consider themselves financial risk takers. But it’s all in how they take that risk. Women tend to better assess risk and rewards rather than jumping right in. Franchises are the perfect risk: they’re already proven success models, and there are built-in systems to help with that success.
Women are Excellent Communicators
Whether it’s finding a tactful way to tell a vendor that if the order is late again, she’ll end the business relationship or firmly leading her employees, the female franchisee knows how to communicate in the most effective way for each situation. Not everyone needs to be ruled by an iron fist, but she knows when to pull it out.
Women Only Accept the Best
Subpar simply won’t do, and that’s a great asset for a business owner. With quality guidelines already in place, thanks to the franchisor, it makes a franchisee’s job all the easier to work to maintain those standards. But still: a female franchisee may choose to go above and beyond those requirements. And that’s great for business.
Women Leverage the Power of Networking
Present a problem to a woman, and nine times out of 10, she’ll know someone who can help with a solution. We’re just built like that (most of us, anyway). It’s this ability to create a network of contacts that will help her business thrive. Whether she’s building her brand online through social media or attending local networking mixers, this ability will help her expand her business’ reach.
Women Have Better Balance
An overworked franchisee doesn’t do her business any good. On the other hand, taking off to pick up the kids and regularly taking vacations may make that business owner better balanced. She’ll be able to focus on running her company 100% better if she separates work and play, and understands the value of getting away from work once in a while.
While, sure, it’s impossible to categorize all women — even all female franchisees — as having each of these qualities, they are true for many.
Susan Payton is the President of Egg Marketing & Communications, a marketing firm specializing in content writing and social media management. She’s written three business books, including How to Get More Customers With Press Releases, and frequently blogs about small business and marketing on sites including Forbes, AllBusiness, The Marketing Eggspert Blog, and Tweak Your Biz. Follow her on Twitter @eggmarketing.