Home > Article > Diane Champagne

More women are starting businesses…and succeeding in franchising

Written by : Diane Champagne
2006-10-15
the last twenty-five years, M-FOUR International has developed North America's most comprehensive franchise development consulting organization.

During that time, M-FOUR has seen a steady growth of women entrepreneurs becoming franchisors or investing in their own businesses as franchisees in established systems, some which may be especially focused on the interests normally associated with women.

In Canada, statistics show that in the past 15 years, there has been a 50 percent increase in the number of self-employed women in Canada, and one million Canadian women will own a small business by 2010, according to a report released by the CIBC, "Women Entrepreneurs: Leading the Charge". There are now 800,000 women business owners in Canada and the number of women-owned businesses is growing 60 percent faster than those run by men.

A particularly good piece of news is that the growth in women-owned businesses is more likely to be because of choice rather than poor economic circumstances. In 2004, only one in five self-employed women who had worked as an employee indicated that she was pushed into going into business for herself because of negative employment circumstances - a rate lower than that of self-employed men, which is one in three.

Today, there is a strikingly powerful force of women wanting to be their own boss and choosing franchising as their platform for success. With more programs tailored for women, easier access to financing and information, and better training efforts, a more cooperative climate is being created. The franchise industry recognizes the enormous value of women operating either as franchisors or franchisees striving for individual excellence and financial independence.

Here's a test to help you determine whether you have the personality to run your own business:
Use a scale of 1 to 5 to determine how the following statements apply to you: a 1 means you disagree, 5 that you agree strongly.

  1. I rarely give up
  2. Whatever happens, I look on the bright side
  3. I'm prepared to work more than a 40-hour work week
  4. I like to make decisions
  5. I can throw myself into something if I like it
  6. Risky activities are thrilling
  7. I enjoy life's ups and downs
Score 28? You've got it. Under 18? Think salaried work

Explanation

  1. Determination is key
  2. You must be an optimist. A belief in a future for your business is crucial.
  3. Entrepreneurs work long hours
  4. You have to make lots of decisions, alone and fast
  5. Enthusiasm is crucial
  6. Risk comes with the territory
  7. So does uncertainty
So the spirit is willing. That's good. But it's not enough.
Financing to support the start up of the “budding” entrepreneur's franchise business or the continued growth of the thriving venture is fundamental and available.
According to Diane Champagne, Vice President - Franchise Development, for M-FOUR, a winning entrepreneur is subject to both tangible and intangible factors. They will need a positive attitude, determination, a strong work ethic coupled with a “burning” desire to succeed . . . and overall financing to support the business through the different phases of growth the enterprise will encounter.
More than ever franchising offers women opportunities to realize tremendous personal success and the accompanying financial rewards.

All Content Copyright ©2006 M-Four International. All Rights Reserved.
Other articles on Columnist franchise
If franchisors are reluctant to negotiate the terms of their franchise agreements, what is the point of having it reviewed by a franchise lawyer before signing? Consider The Following Issues BUYING A READY-MADE BUSINESS IS APPEALING TO MANY MID-LIFE ENTREPRENEURS BY JAMES PASTERNAK