Here’s why a rising number of women are becoming franchisees

Franchising enables women to balance running a business with their personal life, Encouraging Women into Franchising says

This year has been an eventful one so far. But if it’s taught us anything, it’s how much we need each other. In 2021 you can improve your connections with those who matter most, as well as your self-worth.

How do you assess your self-worth? A recent survey discovered people’s self-worth changed during the pandemic. Less people base it on how much they earn, valuing human interactions instead.

In the report, Professor Deborah Ward commented: ‘Social connections are important. We need them to feel secure and mentally healthy. Much of what’s required to achieve success in the financial domain comes at the expense of time with family and friends.’

The franchise industry creates opportunities that consistently improve these areas. So if you’re thinking about how to increase your feeling of self-worth, franchising may be right for you.

The study continued: ‘People think money improves relationships; research suggests otherwise. Focusing on money means spending less time maintaining relationships.’

A humanistic approach to business

Franchising allows you to connect with like-minded people and make time for family and friends.

The proven model provides you with reduced financial risk once you’re up and running, which is especially important at the moment. You’ll also receive training in business and leadership skills. Furthermore, you’re surrounded by people cheering you on, as you grow and develop.

Cheryl White, managing director of Apollo Care Franchising, has recently pivoted to a more humanistic approach. “I’ve completely changed my five-year business strategy,” she says. “I plan to implement a total restructure, doing more of what brings me joy.”

What this means for women

During lockdown, women felt pressured to balance homeworking with educating their children, while also dealing with the psychological fallout.

A survey of 40,000 American employees discovered that ‘25 per cent of women consider giving up work because of stress, while another 25 per cent worry their work performance is judged because they’re looking after their child.’

At the forefront of career progression, franchising enables women to balance running a business with family life.

This is because the franchise model equips you with a proven concept and comprehensive training, so you’re fully supported to develop the skills to succeed. It’s an ideal resolution for women who are highly invested in their career progression - whether they have children or not.

Julie Maxted of The Pets, Homes and Gardens Company says she’s learned to focus more on the well-being of her franchisees, adding: “We’d rather build better relationships with our franchisees by supporting and helping them.”

Could franchising help you?

Some of those involved in franchising have reprioritised what matters most and invested in their ideal work-life balance. They’ve since rediscovered higher feelings of self-worth.

As you assess what you want to achieve in 2021, why not join the rising number of women and see what running your own franchise can do for you.

Visit ewif.org and thebfa.org for your first step to taking control of your work-life balance.