Women have to constantly prove their credibility in the workplace and it is this one factor that keeps their adrenaline rush going. Testifying the fact, is the entire franchise industry that has seen women rise in the capacity of a franchisor as well as a....
Women have to constantly prove their credibility in the workplace and it is this one factor that keeps their adrenaline rush going. Right from fighting notions like ‘she is earning to fulfil her desires’ to ‘women cannot handle top positions’, women have been pushing the glass ceiling with all their might. However, amidst all the conservative and protective voices that constantly persuade her to lie low; the entrepreneurial DNA speaks out loud and clear. Testifying the fact, is the entire franchise industry that has seen women rise in the capacity of a franchisor as well as a franchisee?
Some of the leading franchise brands incepted by women include Shahnaz Husain Group, VLCC, B Blunt, Shemrock Play School, Mothers Pride, Zivame, to name a few.
So what makes women’s involvement so appropriate in the franchising industry?
Franchising thrives on the concept of collaboration. It is like being a part of a huge family. Women are excellent executers and collaborators who love to be a part and substantial contributor of a bigger goal. Their ability to support and motivate others comes from something that she keeps doing every day in her life as a mother and wife.
Women can value mentorship. Franchising is a business practice that hands down a tried and tested business format for the franchisee to replicate the same in their localities. Here, women’s ability to organise, prompt adaptability, strong networking and communication skills make her one of the most preferred partners to work with. Apart from this, they get the opportunity to learn from the experiences of a network of franchisees that ride in the same boat.
The fairer sex enjoys benefits, while getting finance. Also, when it comes to managing finance, female entrepreneurs are conservative in their approach. They believe in starting small and move steadily towards a bigger goal which complements the franchise format very well.
Sectors Dearer to the fairer sex
Shriram Lakshminaryanan, AGM - Business Development and Consulting, Francorp opines, “The rise in women entrepreneurs in India along with the fact that more than 80% of the preschool franchisees are women shows a tangible growth for the market.” He elaborates, “The fact that women possess strong soft skills and social intelligence along with their innate nurturing ability, ensures in establishing an effective bond with children, enabling them to handle kids and the business effectively. Parents prefer women when it comes to the safekeeping and custody of children at playschools. In such scenarios women entrepreneurs running preschool franchisees will imbibe greater trust and confidence.”
While schooling, beauty, yoga centers and fashion businesses have always experienced major involvement of women investors, some positive disruption in the franchise industry has started seeing women venturing into trades such as automobile and travel as well. Today's franchising world offers opportunities across all sectors and types of franchising - and there are female success stories in all of them. For example, Mahindra First Choice recently reported an increasing number of female investors who are ready to get down to the shop floor and soil their hands to make it big in the automobile industry. Testifying the statement, Vidya Nambirajan of Paramount Autobay which is a franchisee of Mahindra First Choice in Secunderabad says, “Automotive business is extremely complicated and to be successful I had to get my hands dirty, I got into the shop floor and understood each and every aspect of car servicing. Beyond servicing we realised we had to diversify into sales and spare parts to replicate the new car dealer ecosystem in the used car space. The most important advantage Paramount garnered through MFC association is the trust and confidence that customers have in the brand.”
In the end
It is evident that increasingly franchisors are targeting qualified female franchise partners for growing their businesses. They are trying to figure out the best way to reach female prospects. Women are indispensable and a great resource that every franchisor wants to tap.