Franchise Ownership Can Speed Up Business Success for Women

small business woman

The concept of “paying it forward,” or helping those who just starting to move up the rungs, is very much a woman’s concept in business. The helping hand approach has now been formalized by Dell, in a program which assists female executives and entrepreneurs to aid and encourage, monitor and teach their emerging “sisters” in the world of business, both locally and worldwide.

The approach was introduced in June 2013 and held at a worldwide conference in Turkey with female business leaders from around the world. The new initiative will supply participants with a wealth of tools designed to use information and technology, and to raise capital and employ networking strategies. A new website and mobile app have been developed for participants. It is part of an ongoing effort to foster entrepreneurship in emerging markets, as Dell explains.

Women Are Key

The idea that women are dedicated to success, not only personally–but on a larger level, is what makes them successful franchise owners as well, notes the CEO and co-owner of an art instruction enterprise known as Bottle and Bottega. Nancy Bigley notes women are dedicated to the success of the larger enterprise. They see themselves as part of the “family,” she notes. Statistics confirm that the number of women franchise owners is growing.

If you are interested in exploring franchise ownership, the U.S. Small Business Administration has a number of helpful websites and a wealth of printed material.

There are a handful of reasons cited for the success of women in franchising, even in fields not typically seen as women’s enterprises. Some of the reasons include:

  • Being in business “for yourself, but not by yourself”
  • Finding flexibility and security that’s difficult to achieve in the corporate world
  • Ongoing support and instruction, stressing openness and mentorship
  • Growth in financing opportunities and “micro-loans,” particularly in emerging nations, as Entrepreneur.com mentions.

A Path to Success

Another attractive benefit of buying into a franchise is that the business model has already been developed. Although franchise owners work just as hard, accept risks and have the same business concerns as other entrepreneurs, they have a proven model to emulate, defined goals to reach, and a track record of other successes. The groundwork has been laid, and the path is clear.

Finding the proper tools to ensure success in business is important for an owner-operator in any field. Two points made by successful female franchise owners are the necessity of hiring others to help build a successful business and asking for help. They caution that you might be doomed to fail if you try to do it all yourself. Accounting and tax preparation assistance are key areas where a myriad of tools exist to make your business life easier.

Don’t Be Limited

Intuit, Inc. has developed software that goes far beyond its original products for household and business financial accounting. You can find great assistance in areas from credit card tracking to tax preparation and online time management, or even scheduling assistance to inventory control and compliance posters, which must be displayed at your business location. The software includes automatic compilation of information for required business filings, and even formatted charts for business growth and development. The best part is that you do not have to be an accounting pro to effectively use Intuit software. Mobile apps such as GoPayment are available to help grow your business, and budgeting assistance is also offered through Mint.com for both home and mobile use. Social networking information and tips can be addressed through a myriad of web sources.

Women who have developed franchises, rather than simply buying one, echo the prevailing opinion that those who envision starting a business should find their passion, and explore their own enthusiasms. Bigley, who had previously been an executive with Dunkin’ Brands, notes that her franchise grew out of sharing a bottle of wine with a friend who wanted to learn to paint.

This is a guest post by Amanda Attison.  Amanda is a lifestyle marketing specialist for a women’s beauty line, and the proud owner of a Dalmatian named “Bubbles”.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.