Although women may still be the minority in franchising, those who have opened and operated franchise businesses are excelling as shown by Franchise Business Review’s latest survey of 6,400 female franchisees. 90% of them said they enjoy operating their business and 85% would recommend their franchise brand to others.
There are many reasons women make strong franchisees and do well in franchising, including their ability to organize, prioritize, think quickly, improvise, network, communicate, and multi-task.
When asked what they feel are key ingredients to the secret success sauce women in franchising have, three leading franchisors shared the following thoughts:
- Women are wired to value relationships over results. They understand the strength that comes from being part of a high achieving team. Because of this dynamic, they work hard to find solutions that meet the needs of the team and organization, even if it means great sacrifice for themselves. A healthy franchising system operates much like a family with deep, lasting relationships. All of our Rhea Lana’s franchises are owned and operated by women. I personally find great joy working with our franchisees because they truly care about our brand and they understand the “sister lift” principle – that we grow our brand together. – Rhea Lana, Founder and CEO of Rhea Lana’s, a children’s consignment event franchise.
- Women are typically very well connected and engaged in their communities. They are the ones who promote positivity and volunteer within their local schools, charities, and non-profits. From a business perspective, they are organized, responsive, creative, and excellent at marketing the business. Women want to leave their community better than they found it. – Tony Lamb, Founder and CEO of Kona Ice, a mobile shaved ice franchise. Close to 75% of Kona Ice franchises are women co-owned and operated.
- Women are used to making key decisions. Although several of our franchises are owned solely by women, our most common ownership setup is a husband/wife team since our business model requires more than an eight to five commitment during peak seasons. Our research has always told us that, most often, it is the woman of the family who is making many of the key decisions regarding a camping trip. The same holds true for a family franchising business. – Mike Gast, Vice President of Communications, Kampgrounds of America.
Because franchisors have realized how much women franchisees bring to the table and can contribute to a system’s growth, many are actively targeting and searching for qualified female franchise owners.
The best way to ensure that a franchise brand is truly as good as it appears, is to look at candid feedback from those who know all there is to know about it. Many of the brands featured on Franchise Business Review’s 2017 Top Franchises for Women list share their full franchisee satisfaction report for free within the Franchise Reviews section of FranchiseBusinessReview.com.
The reports provide helpful insight into multiple areas that are crucial to the health of a franchise system such as culture, leadership, training, and financial opportunity. Once you’ve identified opportunities you like, you can compare them using the side-by-side comparison tool in the FBR Franchise Buyer’s Toolkit.