The Franchise Coach

Why Franchising is for Women

The UK Daily Mail recently claimed that if they continue their rate of advancement, more women than men will be starting up businesses by 2010. The online landscape is shifting as 18-34 year old women are now the most dominant group online in the UK according to Nielsen//NetRatings. The UK Yellow Pages suggest that the UK is now home to a new type of female entrepreneur, dubbed “the kitchen table tycoon”.

What can Women Bring to Franchising?

Today’s women bring a list of skills that empowers them to be successful business owners and gives them the opportunity to combine family life with something that they love and passionately believe in.

They have been:
  • House managers
  • Motivators
  • Key communicators
  • Sports coaches
  • Committee members
  • Nurturers, caregivers, supporters
  • On duty 24/7
  • Dedicated to their role
  • Readers and learners
  • In charge of time management, inventory, family budgets, property maintenance, rental management
They understand the importance of and uphold:
  • Strong values – honesty, health, wellbeing
  • Balance of life – sport, fitness, time out
  • Image, tidiness and cleanliness
  • Community involvement, networking, support groups
  • Independence
Franchising in New Zealand is geared towards every woman, from the mother looking for supplemental income, to the career sales executive who wants to build her own empire using franchises as a foundation. Some franchise systems operate from a home office, have flexible hours, can be part time or are suitable for two business partners. Many women are looking for a change from their previous career, they may be behind and out of touch in their industry, they do not want to return to an employed salaried or want to move out of the corporate environment. They want a new challenge, a new industry and a possibility in which to channel their energy and manage their own timetable.

What can Franchising Bring to Women?

  • Business establishment and set up assistance – a roll out road map
  • Back end and administration systems in place, even to general ledger
  • On going support of the franchise management team
  • Branding, website complete so no need to be creative – business card on day one
  • Tricky relationships managed such as suppliers and landlords
  • Marketing and sales assistance
  • Peer support with other franchisees
  • Franchisor who knows the market, the industry, trends, pitfalls
  • No previous experience needed for many systems, complete training offered
  • Bank deals may be available and banks view franchising favourably

Owning a franchise is a personal endeavor. Each opportunity requires very different factors from its owners, regarding time commitment, investment, leadership, expertise, etc. Women may take longer in the recruitment process, they will be doing exceptional due diligence before moving on to the next stage. They should carefully assess the risks, identify the commercial concerns and will want to know “What is the worst thing that can happen to me?” Before making a selection, it's important to see how the franchise is working for and impacting on their peers.

But when a woman finds something that she believes in and when she becomes passionate with the system and the product or service, she will become the greatest rave and will tell everyone about it; “brand love” With a new business it is particularly important to put the customer first. Women are very, very capable of doing this; when it comes to empathy and customer service, women are excellent at it.

There are a lot of business sectors that are of little interest to males and so these have missed out on franchising boom. For the woman entrepreneur, this allows an opportunity to expand their existing business or concept by franchising it, taking advantage of a good pool of female franchisees rearing to enter business for themselves but not by themselves.

Potential franchisors and franchisees can be inspired by the many women who have contributed significantly to the growth of many franchise systems in New Zealand such as Green Acres, Porse, Caci Clinic, VIP Home Services, Wendys, Anchor, Arano Orange Juice, Exceed Window Maintenance, Egg, Skids, Annah S to name a few. A woman currently holds the Chair of the Franchise Association of New Zealand.

The fastest growing wealth demographic in New Zealand is women 25 – 40 years. In the 1970s, it wasn’t her money, it was his money. In the 80s, it was our money. Today women’s power has dramatically increased because it’s now all her money.

Fiona Macky, Senior Consultant
“The Franchise Coach” the complete franchise resource
fionam@franchisecoach.co.nz
www.franchisecoach.co.nz
0800 COACHING

"The Franchise Coach" is a member of the Franchise Association of New Zealand. Association of New Zealand Franchise Member
"The Franchise Coach"
Phone +64 21 943 776
PO Box 25020, St Heliers, Auckland, 1740, New Zealand

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Link Business Broking Ltd


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