Why Franchisors Prefer Women as Their Franchisees?
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
John Harris, Regional Director of Franchise Development, Crestcom, states, "Diversity is of utmost importance. True diversity has to do with the cross-pollination of ideas across gender. The President and the CEO of our Company is a lady, Tamy Berberick and we have some top franchisees in the world owned by women, like Lakshmi in Chennai. Some of the most famous Crestcom franchisees are women-owned."
A report commissioned by the IFA in 2017 examined the rise of women-owned franchise businesses to 30.6 percent from 20.5 percent just five years before a 50 percent increase!
Based on a report from Franchise Business Review, child services are the leading franchise sector for women franchise owners where 51 percent of franchisees are women. Travel and hospitality have an even split between male and female owners, and retail (43 percent), fitness (39 percent), and sports and recreation (36 percent) round out the five sectors with the highest percentages of female ownership. Home care services continue to be a strong franchise category that appeals to female franchise candidates.
Women are known for being multi-taskers, who juggles multiple responsibilities while maintaining the balance, which makes them capable to run a franchise business successfully.
A survey report shows that women have outscored men in two categories, judgment making, and result orientation. Since women take most life decisions whether it is in running a home or bringing up children, they have in-built leadership qualities and the power of decision making. These are the qualities which the franchisors prefer in their franchisees, ultimately making women as their ideal choice.
Post Sabbatical Phase
Most working women take a sabbatical during their pregnancy or due to some other personal issues at one point in their life. Post sabbatical either they prefer freelancing or taking up franchising to utilize their skills and making some money for them, out of which franchising has been proved more profitable in comparison with freelancing.
Some franchises allow women to avail semi-absentee model, which makes them work for 10-20 hours a week without compromising with the quality of service and productivity. This allows the women to take care of their family responsibilities as well as a feeling to gratitude towards the brand, which in a way pushes them to work harder in maintaining the standards and achieving the goals set by the brand or franchisor.
The article was originally published on Franchise India by Nibedita Mohanta.