How Franchising is Empowering Women
In 2022, 151,603 companies were launched by women in the UK, a record number according to the Alison Rose Review of Female Entrepreneurship. This figure is more than double that of 2018 and represents a significant rise in empowering women in the world of business ownership.
The independent Rose Review is led by Alison Rose, CEO of the Natwest Group. It found that in 2022, female-led businesses represented one-fifth of all businesses in the UK. Even more encouraging is that nearly 17,500 of those businesses were started by 16-25 year olds.
The 2019 Rose Review highlighted that the UK economy would benefit to the tune of £250 billion if women matched men in starting and scaling up businesses. The 2022 Rose Review certainly backs up this claim. One type of company structure that encourages women to take control of their own business is franchising.
What is franchising?
Without a doubt, women in franchising are on the increase, and we’re seeing that trend at it’seeze, with so many more women taking the helm of their own it’seeze franchise business.
This has been backed up by the latest figures from the EWiF (Encouraging Women in Franchising) group, which reports a 37% rise in female franchisees over the past three years.
Franchising is a great way to start your own business, but be safe knowing you have the full support of the franchisor and the franchise industry. It is in the franchisor's best interests to help you make your business a success. So, they will guide, encourage and help you every step of the way.
An it’seeze franchise means you find independence through running your own business that fits in around your other commitments, like children and family. At the same time, it is relatively low risk as most franchises are already established brands in the industry.
Essentially, franchising is about running your own business as a branch of the main business. It can often be the difference between women thinking about running a company and actively taking that step into entrepreneurship; and freedom.
Benefits of owning a franchise
If you want to start your own business, investing in a franchise is a low-risk and successful way. There are six main benefits to a franchise business:
1. An established brand – as a franchisee, you can capitalise on an already established, recognised brand. This often means that your marketing and advertising, which is often combined with the franchisor's, is more meaningful and trustworthy.
2. A business model you know works – you can follow a business model that you know works. This gives you a boost to your confidence and added security when you start your business. Most franchises come with a set of operating procedures and processes that help you run your business. This is particularly useful if you are just entering the realm of being an entrepreneur.
3. Ongoing support from the franchisor – the franchisor (parent company) will give you ongoing, long-term support in starting your business and helping you to run a successful business. In many cases, franchisors will provide training, access to experts and other franchisees, marketing materials and helpful guides.
4. Access to a range of resources – many franchisors have access to contacts in different industries, such as financial and resources. This means they can connect you with the right people when needed.
5. Lower risk – it’s not easy starting a business from scratch, and it can be a risky venture. Investing in a franchise lowers that risk as you can leverage the parent company’s already established brand and access its resources.
6. Flexibility – any new business takes dedication and hard work; that is a given. However, as a franchisee, there is the capacity for greater flexibility in that you can decide the hours/days you will work, make your own business decisions and have more control over your career.
Many women have multiple commitments, but one of the biggest barriers to starting a franchise is money. This could be anything from insufficient funds to invest in a franchise – despite knowing they’d make a great female entrepreneur – to worrying about the lack of a regular income or borrowing money. But that doesn’t mean starting a franchise is out of reach for women.
Top tips for women entrepreneurs
Are you a woman looking to take control of your career by stepping down an entrepreneurial path? Here are our top tips to help you.
● Do your research – if you’ve got an idea that you think will work, you must do your homework. Not only will this help you find out if there is a market for your product/service, but it will also help formulate the idea, create a business plan and business model, and make those essential decisions.
● Get networking – the old adage of it’s not what you know, but who you know couldn’t be more true when starting a business. So, sign up for local networking groups, get out there and meet people, and build relationships with potential business partners and customers.
● Be prepared to work hard – running a business is not for the faint-hearted. There is no quick and easy route to success, only dedication, resilience and perseverance. There will be lows, but there will also be highs, and the hard work will be worth it.
● Always ask for help – if you get stuck, don’t be afraid to ask for help. You’re not an island; there is an army of people ready to lend you a hand with helpful advice, great tips, handy resources, and even mentoring.
● Believe in your idea and yourself – belief is half the battle. If you can believe in your idea 100%, then back yourself with the same belief. Even if you experience hard challenges, take the knocks and setbacks, keep the faith and learn from your mistakes. Success is out there waiting for you.
At it’seeze, we are extremely proud of our women franchisees, with many award winners in their own right. Gemma Green launched her franchise at one of the most difficult times, weeks before the Covid lockdowns. But despite this, Gemma and her business partner returned their investment in just four months.
Nic and Sarah Johnson have experienced incredible growth with their franchise, so much so that their daughter and her partner have also become it’seeze franchisees!
Both Gemma and Sarah have been named Woman Franchisee of the Year. This could be you in 2023. Schedule a Discovery Call today and join the highly successful It’seeze franchise family.
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