Why Franchise Ownership is Great for Women
As women continue to expand their role in the business world, franchise opportunities have become a favorite for many reasons. Purchasing a franchise provides business owners with a quick start to a successful business. Many franchise options are well-developed, profitable companies that allow potential business owners to become part of the team via franchise. Why do women like investing in and buying franchise businesses? Here are a few reasons.
1. Low risk
Unlike starting a new business from scratch, owning a franchise is comparatively low risk. That doesn’t make franchise ownership an easy, boring option. Franchise ownership is time-consuming, hard work. But because of brand recognition, shared advertising money, and other factors, owning a franchise can mean turning a profit much quicker than the average start-up.
2. Training and support
Smart women invest in and buy franchise businesses because they know there’s a system to drive success. Buying a franchise entitles owners to certain benefits like ongoing training and corporate support. If you don’t know something, or if something goes wrong, the parent company is there to guide you. It’s an almost perfect balance of autonomy and mentorship.
3. Rewarding work
Buying a franchise comes with a lot of hard work. While many people think that franchising provides business owners with a turnkey option for business ownership, the fact is that owning a franchise is really hard work. But from that hard work comes incredible rewards. You get to be the face of a local business. And how your business serves the community is a direct reflection on you and your efforts. If you do well, you get the glory.
4. Exciting new products
Since the franchisor (the company that gives out franchises) has an obligation to keep things fresh and fierce nationally, the franchisor spends a lot of money on research and development (R&D). And franchisees get the benefit. Depending on your market, you’ll be able to test new products on your customers with very little risk and effort on your part. Since traditional business owners are left to stress over keeping up with the competition on their own, you’ll love having this type of built-in support from a corporate level.
5. Flexible work
While you won’t have set scheduled hours and some days can be longer than others, you have control over what you do and when you do it. Need to drop of the dog for grooming? You choose the time. You’ve got the power and franchises make great family businesses.
6. It pays to be the boss
We’ve all heard the horror stories of what it’s like to be a woman in the workplace. But by franchising a business, women are empowered to be leaders. As the franchise owner, you take home the bacon. You put in the work, and you get the profits.
Women love franchises because they combine the best of both worlds: business ownership and superior support. Although franchise owners still experience deadlines, stress, and pressure, it’s worth it to be in charge of your own company. You can be the face of something great and treasured by your local community.