Why Franchising Attracts Women Entrepreneurs
Why Franchising Attracts Women Entrepreneurs
If you answered “Yes” to any of these questions, then you’ve thought about business ownership – but something has stopped you from moving forward. Was it lack of experience? Couldn’t think of a unique concept that would compete with established brands? Fear of the unknown? If so, you are not alone.
That’s why so many people have turned to franchising – and a record number of those franchise owners have been women. When you buy a franchise, you have help setting up and running your business. The concept and brand name are established and recognizable by the public. And there are experts to “hold your hand” and answer any questions along the way.
In the United States the number of women-owned businesses grew at twice the national rate for all privately held companies from the period of 1997 to 2002, according to census data. One reason may be that business ownership is a way for women to crack through that proverbial glass ceiling. Another reason is that it can give a woman more flexibility, something greatly desired by those with a home and children to manage.
For many women, owning a franchise can be the easiest way to achieve their dream of business ownership. No one claims that every franchisee is successful; however your comfort level will be greatly increased if you follow a tried-and-true system instead of building something from scratch.
Here are some of the ways a franchisor may help their franchisees:
• Build-out/Site Selection. From the look and layout of your store to the location to the signage, a franchisor knows what works to draw customers. Most franchisors will offer guidance in these areas and some even have employees who will work one-on-one with a franchisee to accomplish each of these tasks.
• Marketing. Most franchisors have a marketing strategy that takes into account the demographics of the franchisee’s territory and the best way to get business. Many also require the franchisee to contribute to a national marketing fund, which buys national advertising. A national TV ad, for example, will increase brand awareness and the buying power of many contributors will allow greater penetration into markets.
• Proprietary Software. If your business will rely on technology, many franchisors have specifically designed software to keep track of customer lists, inventory, accounting, or whatever is needed to keep the business running smoothly.
• Employees. When a business has many open locations, they have significant data to draw upon. This can be of great help when you need to hire, manage and retain employees. A franchisor can tell you what type of person to hire, where to advertise for employees and may even provide employee manuals and other resources.
• Buying Power. A major advantage of being a franchisee over being on your own is having the buying power of a large business. Whether your product consists of bread or batteries, or your service is house painting or dry cleaning, you will benefit from the greatly reduced prices you pay for supplies and inventory because of the quantity purchased by the franchisor.
• Training. Say you want to own a window tinting business but you don’t know a Cavalier from a Camry. No problem. A franchisor will train you in most everything you need to know to run your business – including how to hire the people who do know their way around cars. You will still need to have innate business skills and a great work ethic to succeed in your business but most specific parts of the business can be learned.
This is the safety net a franchise provides: a tried and proven concept with operations, marking, distribution, accounting, technical support, brand, etc. all in place, tested, retested and ready for a sharp, hard working entrepreneur to join the team. Growing a business through franchising obviously works. U.S. Department of Labor statistics show that franchising accounts for approximately one trillion dollars a year in sales and is increasing at a rate of about 8% per year. For a woman who is preparing to run her own business for the first time, it can be the best of both worlds. A franchise provides the help and guidance of a big company along with the control and flexibility of a small business.
If you’ve been thinking about owning your own business, buying a franchise may provide you with the security you need to make the commitment. A good franchisor will provide you with training, support and continuing help – after all, they don’t succeed until you do. With over 1,600 franchise concepts in the US today, there’s never been a better time or a better place to follow your dream of business ownership and you will find lots of company – women populate all areas and all sectors of franchising.
Why Franchising Attracts Women Entrepreneurs - To learn more about this author, visit Kim Ellis's Website.
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Have you ever wondered what it would take to leave the corporate world behind and own your own business? Are you tired of being the go-to girl, a small fish in a big sea, earning money for someone else? Is it time to take charge of your future and really be in control of your destiny?
If you answered “Yes” to any of these questions, then you’ve thought about business ownership – but something has stopped you from moving forward. Was it lack of experience? Couldn’t think of a unique concept that would compete with established brands? Fear of the unknown? If so, you are not alone.
That’s why so many people have turned to franchising – and a record number of those franchise owners have been women. When you buy a franchise, you have help setting up and running your business. The concept and brand name are established and recognizable by the public. And there are experts to “hold your hand” and answer any questions along the way.
In the United States the number of women-owned businesses grew at twice the national rate for all privately held companies from the period of 1997 to 2002, according to census data. One reason may be that business ownership is a way for women to crack through that proverbial glass ceiling. Another reason is that it can give a woman more flexibility, something greatly desired by those with a home and children to manage.
For many women, owning a franchise can be the easiest way to achieve their dream of business ownership. No one claims that every franchisee is successful; however your comfort level will be greatly increased if you follow a tried-and-true system instead of building something from scratch.
Here are some of the ways a franchisor may help their franchisees:
• Build-out/Site Selection. From the look and layout of your store to the location to the signage, a franchisor knows what works to draw customers. Most franchisors will offer guidance in these areas and some even have employees who will work one-on-one with a franchisee to accomplish each of these tasks.
• Marketing. Most franchisors have a marketing strategy that takes into account the demographics of the franchisee’s territory and the best way to get business. Many also require the franchisee to contribute to a national marketing fund, which buys national advertising. A national TV ad, for example, will increase brand awareness and the buying power of many contributors will allow greater penetration into markets.
• Proprietary Software. If your business will rely on technology, many franchisors have specifically designed software to keep track of customer lists, inventory, accounting, or whatever is needed to keep the business running smoothly.
• Employees. When a business has many open locations, they have significant data to draw upon. This can be of great help when you need to hire, manage and retain employees. A franchisor can tell you what type of person to hire, where to advertise for employees and may even provide employee manuals and other resources.
• Buying Power. A major advantage of being a franchisee over being on your own is having the buying power of a large business. Whether your product consists of bread or batteries, or your service is house painting or dry cleaning, you will benefit from the greatly reduced prices you pay for supplies and inventory because of the quantity purchased by the franchisor.
• Training. Say you want to own a window tinting business but you don’t know a Cavalier from a Camry. No problem. A franchisor will train you in most everything you need to know to run your business – including how to hire the people who do know their way around cars. You will still need to have innate business skills and a great work ethic to succeed in your business but most specific parts of the business can be learned.
This is the safety net a franchise provides: a tried and proven concept with operations, marking, distribution, accounting, technical support, brand, etc. all in place, tested, retested and ready for a sharp, hard working entrepreneur to join the team. Growing a business through franchising obviously works. U.S. Department of Labor statistics show that franchising accounts for approximately one trillion dollars a year in sales and is increasing at a rate of about 8% per year. For a woman who is preparing to run her own business for the first time, it can be the best of both worlds. A franchise provides the help and guidance of a big company along with the control and flexibility of a small business.
If you’ve been thinking about owning your own business, buying a franchise may provide you with the security you need to make the commitment. A good franchisor will provide you with training, support and continuing help – after all, they don’t succeed until you do. With over 1,600 franchise concepts in the US today, there’s never been a better time or a better place to follow your dream of business ownership and you will find lots of company – women populate all areas and all sectors of franchising.
Why Franchising Attracts Women Entrepreneurs - To learn more about this author, visit Kim Ellis's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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