Over the past three decades, women have been steadily rising in the ranks of business and franchise operators.
According to the 2013 State of Women-Owned Business Report:
Women-owned businesses exceed overall a sector growth in eight of the 13 most populous industries. Another interesting fact is that women-owned businesses are highly concentrated in health care and social assistance, educational services, other services and administrative support and waste management services.
Among these female entrepreneurs are numerous women who have found a professional home in the franchise industry where 30.6% of franchised businesses are owned by women. Furthermore, an additional 24.4% of franchised businesses are male and female co-owned.
So just what is it about women and franchising that has spurred this marked growth?
Skills, interests and personality traits, among other things, seem to be playing a key role.
The following characteristics of women prove why they are so successful in the franchise business:
- Women tend to be great organizers
- Prioritize well
- Have an eye for detail
- Ability to think quickly
- Improve & adpat when necessary
Female business owners also tend to be more financially conservative and willing to start small on their way to growing big. This kind of business approach and philosophy is perfect for opening, operating and growing a franchise. Furthermore, women have more opportunities than ever to join in franchising. Organizations such as the SBA and Association of Women Business Centers have established workshops, seminars, mentoring programs and funding opportunities for women, who are interested in starting a franchise business.
The year 2018 counts additionally as the year for women empowerment, especially within the UAE due to the fact that it is representing one of the core objectives of the year of Zayed.
Sheikh Zayed HH, the founder of the Emirates once famously said, ”The woman is half of the society, any country which pursues development should not leave her in poverty or illiteracy. I am on the woman’s side.”
Sheikh Zayed HH encouraged the role of women in strengthening the economic and social sectors of the society. Whilst in compliance with the inherited customs and traditions, he helped women to enjoy equal rights and duties.
Francorp Middle East has nominated 3 women in business, who are all operating in different industries and fields but have one vision in common this being their success and power within the business environment.
The first woman FrancorpME nominated was Huda Kattan, who is an American makeup artist, beauty blogger, and entrepreneur. She is the founder of the cosmetics line Huda Beauty which began in 2013. Huda's first product, a series of false eyelashes were released through the cosmetic retail chain Sephora. Her label soon achieved success with the sales of her false eyelashes, which were worn by Hollywood celebrities.
Huda's company, which was born in Dubai later began to offer a selection of beauty products such as eyeshadow palettes etc. Additionally, Huda Kattan was featured in Forbes magazine declaring her one of the “Ten most powerful influencers in the world of beauty”.
Francorp's second nominee for successful women in business, is Joelle Mardinian. She is a beauty expert, TV presenter, entrepreneur and brand ambassador for many international products. She was named as one of the most successful and influential Arab businesswomen and has received multiple awards. Joelle's career started in London, where she was working as a Beauty expert, based on her experience in cosmetics and TV apperances she since launched her 3 successful franchising concepts: MAISON DE JOELLE, CLINICA JOELLE AND JOELLE PARIS.
The final successful businesswoman FrancorpME selected is Indra Nooyi. An Indian American business executive and current Chairman and CEO of PepsiCo, the most preferred soft drink in the middle east and the second largest food and beverage business in the world. Indra has consistently ranked among the world’s 100 most powerful women, in 2015 Fortune ranked her as the 2nd powerful woman on their list.
Since she started as CFO in 2001, the company’s annual net profit has risen from 2.7 $ billion to 6.5 $ billion. Her successful career let her win several prizes and awards and she is still continuing to be productive, hence she is changing Pepsi’s strategy in producing more healthy and organic food and beverages. Nooyi is working to cut sugar, salt and fat from many Pepsi products by 2025.
Female entrepreneurship ranges from just 1.5% to 45.4% of the adult female population in the 59 economies included in the Global Entrepreneurship Monitor research project.
Based on this, more and more franchisors are targeting and searching for qualified female franchise owners for their systems. They are working closely with franchise brokers, advertising, and marketing partners and their own internal staff to figure out the best way to reach female prospects. Women offer a great and effective source for franchise growth and franchisors want to tap into this resource.
Share our blog and inspire more women in business!