Franchise- Why is this the Best Entrepreneurship Option for Women?

According to the recent report by International Franchise Association, there is an almost a 50 percent increase in the women-owned franchise businesses since the last decade. With these numbers, it’s clear that more women are turning to entrepreneurship than ever before, and franchise seems to be the best option for them. Women are considering the franchise business over starting a new business from the starch or even climbing the corporate ladder. But have you wondered why is it so? Let’s find out!

  • High Success Rate

When it comes to starting a new business from scratch, it has its own challenges, risks, and it’s difficult to predict the future of the business. However, this is not the case with franchise businesses as they are built on tried and tested business models. Compared to starting a business from zero, owning a franchise business will turn out to be fruitful as strong support is provided by the franchisers at every step. There are various franchise opportunities in India for women that guarantee a high success rate when backed up with hard work and consistent efforts.

  • Easy to Secure Loans

Getting a business loan for a franchise business is relatively easier as compared to that of getting a loan for a new business on your own. A franchise is a proven model, as such banks generally sanction the loan in no time. Having said that, it also depends on the CIBIL Score and loan repayment history of the borrower. Do check with that!

  • Increased Flexibility

 In today’s cut-throat corporate environment, it’s quite difficult to find a job that will allow one to balance work and family. But this is not the case in the franchise business.

 A franchise business allows oneself to become one’s boss and that gives them some freedom and flexibility too. Women can work on their business while dedicating some time for themselves and other responsibilities. However, this will entirely depend on the kind of product or service one chooses to take up as a franchise.

 

  • Quick Advancement

A study published in the Harvard Business Review states that women aren’t promoted as quickly as men. In fact, they are 15% less likely to get promoted than men. This is another reason for women taking entrepreneurship as their career choice after a sabbatical.

Franchise business allows them to advance more quickly compared to that of a corporate job. The growth of their franchise is directly proportionate to the amount of hard work they put into their business.

To Follow their Passion

Today there are ample business Ideas for women that allow them to follow their passion and excel as successful entrepreneurs. Majority of the women are leaving their high-paying corporate jobs because it doesn’t inspire them anymore. They feel that pursuing their passion of entrepreneurship and being their own boss is no doubt the right choice for them.

So, taking a franchise of a business prospect one is passionate about is a golden opportunity to excel. In fact, research has shown that businesses that are passion-driven are likely to get more success.

In short, franchise business has emerged as a great avenue for aspiring women entrepreneurs. So, women driven by the passion to be one’s own boss must try their luck and take a leap towards their entrepreneurial future by associating with a renowned franchiser of the sector they prefer.