Nine reasons why women should consider buying a franchise business
Love to start a business but no clue how to start? Here are nine reasons why you may want to consider buying a franchise business.
In 2017 mothers shouldn’t have to choose between a successful career and being a parent – we should be able to blend these aspects of our lives successfully.
Stephanie Molnar and Dee McKenzie used this as motivation to establish the Elmscot Group in 2001. This later led them to develop and add the successful Kids Collective brand – an out-of-school childcare provider for children aged 3-11 years – as their own children grew.
Now they share nine reasons why they believe women should consider buying a franchise business.
Franchises are increasingly popular with women
Franchises were once a boys’ club, dominated by men. But recently they have begun to be more popular with women, many of whom are finding that owning a franchise can offer them freedom and opportunities to grow, without the long hours and risk associated with starting a business from scratch.
Increasingly, franchise businesses are actively encouraging female franchisees – and discovering that women often possess the right skills for running a franchise operation. Women are realistic risk takers, we go above and beyond the minimum standards, we’re natural networkers and are passionate about the products or services we sell.
Nine reasons why you should consider a franchise business
So if you’re toying with starting a business, here are nine reasons why you might want to consider buying a franchise business.
1) You’ll have more flexibility
One reason many women buy franchises is that they want the flexibility of working for themselves, without the risk and work of establishing a business from scratch.
Work-life balance looks different to everyone – to some it may be spending more time with their family, to others it may be not working weekends. With so many different franchise businesses to choose from, you can find one that fits the kind of lifestyle you want.
2) You can make the most of your talents
The wide choice of franchise businesses also means that you can also usually find one that fits with your existing talents, skills and interests. And many of the skills you’ve honed over the years in your career – negotiation, organising, management, motivation etc – will help you establish and lead a successful franchise business.
3) You’ll be part of an established brand
With a proven track record and an established reputation, you’ll be buying into a business that has already delivered success with consumers who trust and respect the brand and what it stands for.
4) You’ll get help to launch
When you start a franchise business you’re never alone. Instead you have the expertise of the franchisor behind you to help make sense of establishing yourself. Remember, it’s in the interests of the franchisor to support you – they WANT you to be successful.
5) You’ll get training
A good franchisor will offer mentoring and a comprehensive training programme which will help you run your franchise successfully. They’ll also provide you with an operations manual as a ‘go to’ guide detailing all processes and procedures of the business.
6) You’ll join a network of franchisees
Having a network of other franchisees who identify with your position is hugely reassuring and makes you feel like you’re part of a team. Annual conferences and training events also provide opportunities to network with like-minded franchise owners, and share business stories and ideas.
7) You’re never alone
You don’t just get a network of other franchisees to connect with. You also have the ongoing operational support of a dedicated and experienced team, who you can always call on when you hit a rough spot or want to share new ideas for growing your franchise business.
They can also help you with marketing your business, including planning your spend and providing marketing materials.
8) You’re investing in a proven model
Franchises aren’t pop-up shops, temporary units or ‘have a go and see what happens’ businesses. They’ve already been established and the brand is trusted – the franchisor has already taken the risk and tested and refined the business model.
By following their established systems and expectations you stand a higher chance of success than launching an untested business idea from scratch.
9) You can own multiple locations
Once you feel established within your own franchise there may be opportunities to buy more franchises and develop within the franchise system and become a multi-franchise owner.
Kirsty Jackson is group development manager of Kids Collective. Find out more about how Kids Collective offers exciting opportunities in franchising to women who need to adapt their lives but want to run their own business while receiving training and support.
Photo by Climate KIC