More women are tapping into their entrepreneurial sides by establishing their own businesses. Thanks to the convenience of franchising, they are also paving the way for others to follow. It appears that the “enthusiastic minority” in the field of franchising is on its way to establishing a majority.
Becoming a franchise owner is one of the best ways to try your hand in business. With the right strategy and partners, gaining the upper hand in the competitive business world is possible. In addition, you have greater access to trainings, higher education, and empowering opportunities. Such resources at your disposal will allow you to gain momentum and success in the franchising industry.
Women at the Helm
Catalyst, a nonprofit organization, reported that women made up 20.2% (1,100) of the Fortune 500’s board seats. Also, 51.5% held management positions; 5.8% of them hold CEO positions. Franchising might seem like a small start, but it can be your stepping stone toward greater ventures.
Why should you venture into franchising? For starters, you can make a difference. As a woman, you can be a strong leader and mentor. You can run your business and extend support to other women, or anyone who needs your help.
Do not doubt your abilities. 7-Eleven, a popular convenience store that also offers franchising, believes a woman’s financial independence and sense of self-accomplishment empowers her to do business. Also, the talent for coordinating activities and managing others makes women a valuable asset to the business community.
Seeing other women achieve in the business world encourages others to follow suit. But for those who are hesitant, diving into the industry is a big decision that comes with a cost.
Fortunately, franchising offers a small step with big promises. Whether it’s fashion or food, more women try their hand at business by partnering with franchising companies.
Franchising Like a (Girl) Boss
Franchising calls for a degree of patience and a particular set of skills to achieve success. Here are some of those skills:
Improve your communication skills. History speaks of women possessing better communication skills compared to their male counterparts. Knowing how to communicate is essential while doing business, and a number of women have made their mark in the field of marketing and PR—thanks to good communication.
Always sharpen your communication skills. Remember: networking comes in handy when starting your own franchise; you talk to customers better and build stronger relationships with partners.
Organizational abilities. Women tend to be more particular with their actions compared to men, but minding attention to detail remains a vital skill. Before you franchise, don’t just look at the bigger picture—understand the pixels (or details) as well. Prioritize tasks and establish short-term and long-term plans.
Inside knowledge helps. Entering the franchising world can be overwhelming for first-timers. Lack of knowledge of certain industries, however, should not discourage you. Instead, learn as much as you can. Just because you lack the skills now, doesn’t mean your franchise will be a flop. You will learn along the way.
Seek professional help. Navigating your way through the industry is a challenge. Start your business with professional help. A number of companies support franchisees by providing products or helping them develop a network of buyers. These experts provide dynamic business opportunities by also offering responsive training and support to their franchisees.
Passion, patience, and good management pave the way for a successful franchise.
More women are making it big in the world of business. Now is the best time for you to change the world, one franchise at a time. Start your journey with Apricot Lane Boutique, the leading clothing boutique franchise that offers the latest in fashion and style. Get in touch with us today!