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Women in Franchising – 4 Steps to Getting Started

The Satisfaction of Owning Your Own Company is Priceless

You’ve worked in the corporate world for years. You may excel at your job, you may have even grown along with your company over the last few years. Maybe you’ve enjoyed your job overall to this point…but you still feel as if something is missing…

The same thought keeps interrupting your daily thoughts on your drive to/from work each day…”What about owning my own company? I’ve been doing what I do long enough, I could wildly successful at running my own business.”

You know that being your own boss means calling the shots and enjoying the satisfaction of surpassing milestones you set for yourself and your business. This option may be just what the doctor ordered!

Many entrepreneurs feel a sense of deep satisfaction that only comes from ownership. While running their own franchise, they get to make the final decisions about marketing, how to sell their product or service, how to manage employees, and how they wish to provide customer service and even writing their own plans on how to grow their company.

Go Into Business For Yourself…Not By Yourself

Franchising allows you to have a “touch point” or a franchisor to go to for guidance. You have your fellow experienced franchisees to help give you suggestions, as well. Franchising gives you a sense of security that you would not have if you started your own business from scratch. Skip the trial and error phase. As a franchisee, you can “check in” with your franchisor on best practices and find out what moves are the best ones to make.

How Do You Get Started?

  1. To start down the path of franchising, reach out for advice, stories and guidance from other franchisees in different industries. Learn how they ended up in franchising and what they would do the same or differently if they could start over.
  2. Join and visit personal development groups such as the IFA (International Franchise Association) who have a Women’s Franchise Committee that has over 20 chapters throughout the country. They host a Leadership Conference every year at the IFA Convention, as well as local meetings, community outreach and encourage the mentoring of other female leaders. Participate at a Women’s Franchise Network meeting by networking or even offering to host a WFN event at your office.
  3. Read different franchising journals such as Forbes, Entrepreneur, INC, Franchise Times, Franchising USA, and Franchising Today.
  4. Franchising is a business, so you must go into it with a strong plan on how you will manage yourself and your time and resources. Visit the SBA site to obtain a business plan template to help get you started.

Most importantly, go into franchising knowing that it be a lot of hard work, and there really are no easy ways to success. Your franchisor has had years of experience in figuring out what works and what doesn’t, so that you don’t have to “find a better way”. Rely on them when your road gets bumpy.