fe at ure : wo m en in fr anchising
Featu re
R o b S w y s t u n | Fr a n c h i s i n g U S A
Continued Growth for
Women in Franchising Will Depend on More Women in Leadership Roles, Experts Say
More women are looking for a good worklife balance and the opportunity to be their own boss and a lot of the time they’re turning to franchising to help them accomplish these dual goals.
role, as it provides an easier path to business ownership and success. Women are well positioned in franchising, with the International Franchise Association currently having a woman, FASTSIGNS CEO Catherine Monson, as its chair. Many franchises and franchise brokerages are also helmed by women.
According to the National Association of Women Business Owners (NAWBO), as of 2017, over 11.6 million companies were owned by women in the United States, employing 9 million people and generating $1.7 trillion in sales.
There are also numerous groups dedicated to helping women explore the world of franchising, including the Women’s Franchise Committee (WFC), which was formed in 1996. The WFC’s goal is to inspire and encourage women in franchising by creating a network of business professionals to provide international networking opportunities for the exchange of ideas, resources, and experiences.
Clearly, women-led businesses are a huge part of the US economy and encouraging more women to enter into business ownership is important for the continued health of the economy.
The committee has created a number of local networking chapters, has an annual conference and a podcast entitled Her Success that shares success stories from female franchise leaders.
Franchising’s Role Encouraging more women to try business ownership and helping them succeed is where franchising can play a significant
Franchising USA
The local networking chapters of the WFC are collectively known as the Women’s Franchise Network (WFN). These local networks are meant to develop relationships between women franchising
professionals and address business issues, share ideas and provide solutions related to franchising. The first WFN was launched in Denver, CO in 2002 and now includes networks in markets all throughout North America. “Women are incredible leaders who can—and do—add tremendous value to any organization,” Nancy Bigley, former chair of the WFC said in a press release. “Thus, everyone being mindful of how you can bring along and guide other female leaders is a huge step. We can raise the level of female leadership by setting the right example and being more mindful of creating opportunities for them to flex their muscles.” One woman who is leading a successful franchise and being a role model for other women wanting to get into franchising is Assisted Living Locators CEO Angela Olea. She started her franchise business in 2006 and says in the time she’s been involved in franchising, she has seen the number of women business owners grow. “The amount of growth from 2006 until now—14 years—has been tremendous,” she said.
