Gone are those days when franchising was considered as a man’s domain. Today, business women have also shifted their focus towards franchising. Let know more about it.
Franchising field is not just a man’s game now. More number of women are entering into the franchise trade and bringing laurels to their brands with impeccable skills and mindsets. Qualities like compassion, long time association, will to succeed, determination for independence, positivity and many more factors are an icing on the cake when we talk of women in franchising. We tell all our women readers here, you why you should get into franchising and how it proves to be an excellent way to become a business owner.
Women are without a doubt great leaders and managers too. Such qualities are a perfect fit for operating a franchise. Women are multi taskers too, which is a demand these days. Most women have strong communications skills which is a must for any franchise business. Female led franchise businesses are perfectly planned and operated too. Most franchisors are very well aware of these qualities and dedication of women towards any business and so they are usually happy giving franchise rights to women partners.
Commenting on the same, Jagrati Shringi, CTO and CMO, Voylla Fashions Pvt. Ltd says: ‘The franchise model, especially in fashion retail, is more women-friendly than the other models. Not only does it involve low capital investment, the option of flexible timings is also a plus for women who juggle multiple roles at home and at work. The Voylla franchise model is specially designed for ease-of-use with a robust support system at their disposal. It includes on the ground and operational support, marketing and PR support as well. It offers autonomy with a resourceful network - an ideal combination or women with entrepreneurial ambitions.’
Started by a young entrepreneur in 2011, Pankita Vora, Boga Be In Style is a fusion brand of contemporary style and rich designs. She started with exhibitions and now she is into full-fledged retail and franchising. Recently, the brand launched its franchise outlet in Ahmedabad. Pankita says: ‘One reason why many women buy franchise rights is that they want the flexibility of working for themselves, without the risk and work of establishing a business from scratch. Females build relationships and form connections faster with people. This can help them be more successful as business owners. Women aren’t afraid to talk and network with friends and other professionals. They create support networks where men are more likely to go it alone. Women do have a tendency to be more collaborative, which is always a benefit, especially when you business is in its infancy and you need all the advice and support you can get from fellow entrepreneurs. Women can handle a lot of things simultaneously, and many do. Interestingly, female funding is increasing at a higher rate than male funding, indicating that the women are catching up.’
What the numbers say?
As per Bizztor.com, over the past few years, India has record growth in women entrepreneurship and more women are pursuing their career in this direction. At a global level, about 126 million women have started or are running their businesses and whereas in India, there are about 8 million women have started or are running their businesses.
Apart from that, women have 24% share in corporate senior management positions and in India it’s 30% for the same. Not only that, round about 37% of formal enterprises owned by women around the globe whereas 10% of formal enterprises in India are being operated by women. For Voylla, almost 65 % of its franchisees are women, with many of them being actively involved with the minutiae of the business. They are completely hands-on and work in tandem with the Voylla team to create a successful partnership. Boga’s Ahmedabad franchise outlet is run by a female franchisee and the brand plans to give more franchise rights to the females only.
Why women are better in franchising?
- Better communicators
- More honesty
- Value for relationships
- Long term association
Women are growing fast with these franchises
- Play areas for kids