Two days after the American electorate voted for a record-breaking number of women to become U.S. senators, QSR magazine is noting that women are also unleashing their power in the world of franchising, according to an article published this week.
“Though the numbers still lean decidedly toward men, the state of women in franchising today is largely on the up and up, thanks to shifting demographics, growing female independence, and franchisors’ desire for a stronger female presence in their company,” the QSR article stated.
It cited statistics from the latest International Franchise Association Educational Foundation’s “Franchised Business Ownership: By Minority and Gender Groups” report. Published a year ago, the report said 20.5 percent of franchised businesses were owned by women in 2007. That compared with men’s 48.9 percent share. The remaining 24.4 percent of franchised units were owned jointly by males and females. (Gender group percentages do not add up to 100 percent within a franchised or non-franchised group because businesses whose owners’ characteristics are indeterminate are not shown.)
Kat Cole, President of Cinnabon
Despite the disparate numbers between male and female franchise ownership, women are making gains, the magazine says, adding that the quick-service industry could benefit from the trend.
Current franchisees noted several traits exhibited by women that make them a perfect fit for the business: competitive spirit, confidence, excellent organizational skills, an eye for details, and a knack for analysis.
“Perhaps one of women’s biggest strengths is their ability to empathize and relate to employees, customers, and the franchisor,” the article stated.
QSR also suggested that franchisors look to recruit more women by connecting with organizations that tend to attract successful talent, such as the Women’s Foodservice Forum or female leadership groups and centers at various universities.
“Franchise concepts would be smart to find those organizations, invest in them, and become a part of what they do,” said Cinnabon President Kat Cole.
Utilizing those resources can allow a brand not only access to talent, but from a public relations perspective, the company will also be perceived as more multicultural and progressive, which can attract even more women, the magazine said.
Cole also suggested that female franchisees and women in foodservice leadership roles should strive to be as visible as possible by sharing their success stories, and becoming mentors to potential or existing female franchisees.
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