At 58, I reinvented myself and launched Your Franchise is Waiting. I had retired ten years earlier from a successful Wall Street practice and was ready for a new challenge. The kids were gone or going fast and I was bored and wanting more than lunch with the girls and volunteering. When I began Your Franchise is Waiting, one of my goals was to empower other women to find their success. Just as I had reinvented myself, I wanted to assist others in reinventing their career, and help them become their own boss through franchising.
According to the International Franchise Association, there are over 780,000 franchise establishments supporting nearly nine million direct jobs. Franchised businesses represent a significant force in the economy. Women started out as a minority in franchising, but we are quickly becoming the decision makers, and play a huge role in the franchising world.
Jo Kircher, CEO of Primrose Schools, a daycare franchise, told Entrepreneur, “The franchise model is appealing to women who are in search of the financial security and flexibility that is becoming increasingly difficult to attain in the corporate world.”
With hundreds of industries to choose from, there is a franchise for everybody, giving women the ability to follow their passions and interests, while being their own boss as a path to financial security and building wealth.
From skills to personality traits there are many reasons why women are set up for success in the world of franchising. Here are some of the many reasons why franchising is a natural fit for women:
We are team players
One of the reasons women are so successful in the industry is because we are team players. We know that while success can be self-made, it doesn’t come from just one person, and we do an excellent job of building networks of strong men and women.
Whether working with other franchisors, vendors or customers, women make an effort to make sure everyone is working cohesively in order for success to take place. It takes a village to create a successful business, and we know the importance of every person who is involved in the success. Women are supportive of their coworkers and peers, and constantly encourage them to succeed.
A huge part of being a team player is giving credit where credit is due. Women are great at making their employees feel valued for their work, input and effort, which makes them wonderful bosses not just in the world of franchising, but everywhere.
We are strong leaders
Leadership is one of the most important qualities to have in the world of franchising. You can’t be your own boss without the ability to delegate and lead by example.
Whether it’s experience from parenting, involvement in the community, or past jobs, women are frequently in positions and situations where it’s important to influence others and lead by example.
When you own a franchise, you have many employees you are responsible for, and you want them to follow your strong example. From team meetings, to words of encouragement, to delegation and feedback (which we naturally do in a positive and constructive manner), there are so many ways to be a strong leader, and women are the experts at it!
We value mentors
One of the many unique aspects of franchising is the access franchisees have to so many people who have been through the same experiences. Women naturally view each other as peers instead of competition, which is why they see the value in finding a mentor.
Every job has the potential for finding a mentor, but franchising takes mentorship to the next level. Franchisees have contact to a huge network of people who have gone through similar experiences when creating their company, and franchises have close relationships with each other, making it easy to connect with others in the industry when you need guidance or advice.
This access to so many people in the industry gives women in franchising so many opportunities to be mentored. When going through a stage of reinvention, having a mentor is often even more valuable than it would be in an everyday job.
We are natural multi-taskers
From raising families, to exceling in the office, women do well when they have a full plate on their hands. We are great at multi-tasking, which is one of the reasons we do so well in the world of franchising.
When we have multiple priorities, roles and tasks, we don’t give in to stress. Instead, we create a plan of attack and accomplish everything that needs to be done. A full plate doesn’t scare us off! Franchisees have multifaceted roles, and multi-tasking is a career requirement.
One thing that goes hand in hand with multi-tasking is adapting. Franchising is a brand new world when you enter it, so it can be daunting when you begin your journey. Luckily, women do well when it comes adapting, making them naturally well equipped to begin their franchise.
We are willing to work hard
Women naturally believe that success comes from hard work. Perhaps due to the glass ceiling, women will do whatever it takes to succeed. Women set goals, and refuse to settle for anything less than achieving them. When you are the boss, there is no glass ceiling!
Refusing to be limited in what we can do is an attitude that goes far in the world of franchising, which can be incredibly time consuming and challenging. Failure is inevitable once or twice, but we learn from our failures and don’t let them set us back.
Is now your time?
If you’re looking to make a change in your career, be your own boss or reinvent yourself in a new stage in life, then you owe it to yourself to consider franchise business ownership to be that next step.
As you can see, women are a natural fit for the job. We are team players, leaders, multi-taskers and are willing to work hard. We also know how important it is to have a mentor to lead us by example. If now is your time, then your franchise is waiting!