Why now is the time to keep franchising top-of-mind

The last few weeks have seen a considerable drop in job offers and many companies undergoing hiring freezes.

Why now is the time to keep franchising top-of-mind

The last few weeks have seen a considerable drop in job offers and many companies undergoing hiring freezes. With a significant amount of people having lost their jobs or being furloughed, now is the time for reflection in both personal and professional lives.

As the lockdown goes on, people continue to explore creative avenues, pursue passions at home, and reflect on career paths. It has given some a clearer perspective on what they truly value in life. For instance, recognising that being able to spend more time with family if they were working from home rather than having to do a long commute, or being more of a conscious shopper by supporting companies who have shown empathy and kindness during this crisis. This extra time has enabled some to further consider their life-long dream of starting their own business.

Franchising is a great route for women looking to start their own business, combining the flexibility of being your own boss with the support of a trusted brand. Over the last 25 years the number of women venturing into franchise has consistently grown, with 30% of all UK franchisees now being women. Strong interpersonal and leadership skills are key factors enabling franchises to be successful, with many of these traits found in females. Women at various stages of their professional journey who attend Women in Business Expo, can be a great fit for the franchise sector.

Business starters: they may not have thought of that great business idea yet but know they want an entrepreneurial venture. In the early stages of their business journey, open to ideas and thirsty for knowledge. A franchise business is a viable option.

Career professionals: working for a corporate or SME can give women the confidence and skill set to consider venturing out on their own. Especially if they have experienced reaching the glass ceiling or workplace inequality.

Business owners: established companies that are looking for growth opportunities. Have they considered franchising their business?

Career returners: perhaps they are a mother returning to work after having children seeking flexibility in hours and working from home, for a better work/life blend.

Unprecedented events often pave the way for innovation and creativity. This applies to individuals as much as it does to businesses. By using this time to identify the opportunities that lie ahead, create new solutions and have a firm strategy in place, we will be well-prepared for the future.

As a business, there are some key factors to consider when planning ahead.

  • Be clear about how the industry landscape may change once things return to normal, any regulations that may have come into place for example.
  • Consider collaborating or partnering with competitors or industry leaders.
  • Build a new pool of prospective customers and focus efforts on lead generation that you can approach when things have calmed down. Be proactive.
  • Continue to support your team the best way you can considering individual employment and financial needs. Through thoughtful leadership companies have a chance to build resiliency within staff and shape a stronger organisational culture.
  • Be conscious of the economic climate and of consumer needs when restrictions are lifted.
  • Keep your brand alive with relevant content and raising awareness.

We are in a difficult time, but at the same time, entire industries are shifting and giving rise to new opportunities for the most ambitious.

Motivated, professional women looking for new opportunities in business and work will be attending Women in Business Expo later this year. They will be seeking inspiration, education, guidance and services to support or begin their business journey.

Vodafone, Stagecoach, Tutor Doctor, Daisy First Aid, No Letting Go and some of the exhibitors featuring in the Women in Franchise zone at Women in Business Expo 2020. Keynote speakers include Karren Brady, Kate Garraway, Ruby Wax, Bianca-Miller Cole and Scarlett Allen-Horton.

Women in Business Expo South is due to
take place on 14-15 October at the ExCeL London. Women in Business Expo North
is due to take place on 3-4 November, Manchester Central. To find out more

Sponsored Article
Sponsored Article