Did you know that about one third of the franchising industry is being opened by women? This number stands higher than SME average, as franchises provide additional benefits for women willing to run their own business. So what makes franchising a great option for women?
If you are looking to start a business with a reasonable risk appetite, the franchise model will provide you with a proven success model. In addition, you will receive training and support to run your franchise business. You are handed out the blueprint for success, thus leaving you to try it with everyday decision making and management skills.
Since there is valuable knowledge at your disposal from the people who have been in the industry, you will open your business and run it quicker than a normal start-up. Franchising is hard work and needs a lot of commitment from your side, but by partnering with the right franchisor you will save a lot of effort and time that you might have spent when starting from scratch. The franchisor’s valuable input can help you devise a better business plan and apply for the funding you need to get started.
The franchisor will have your back and provide you with all the necessary support. Further, you will have support from the network of other franchisees who have already walked the path you are about to take. Since the franchisees are all allotted different territories, there is not much competition to try and impress the owner. Rather, they share their insights and learnings encouraging a healthy spirit of growth.
There are plenty of options to choose from in the franchising industry. Find your strengths, passion and sense of purpose to research for franchise options that best suit them. You don’t have to limit yourself to the most obvious first choice. Especially if you are looking at management franchises. What matters more are the transferable skills you’ve built up throughout your career and how they could be applied in a franchise that appeals to you.
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