The article from SWAAY, was written by Lisa Druxman, and was posted there on November 5th, 2017.
Owning a franchise business can help a Mom create flexibility to look after children that is not available to an employee working for someone else.
When I became a mom 16 years ago, the choice to return to work full-time was incredibly difficult. I wanted more flexibility in my career, but we also needed my salary, so I felt my options were limited. Still, I wanted to try and change direction. At the same time, motherhood had rocked my world. I had so many questions about how to take care of my baby, how to take care of myself. I started Stroller Strides during my maternity leave so that I could take my son with me to workout, and so that I could meet and get support from other moms. Apparently, I wasn’t the only one looking for this connection because the class took off. Within months, we were getting requests from all over the country for classes. Many who wanted to take classes, but also many who wanted to lead them. This is how I started franchising.
We are proud to be one of the fastest growing franchises for moms. I started franchising because I wanted to give other moms the opportunity that I had in running a business. I felt so lucky to love my work, to be able to work from home and create my own hours. I was able to give back to my community and to meet other new moms.
I would have given anything to join a franchise like FIT4MOM. As the franchisor, I had to invent the wheel so to speak. I had wanted to be a mom first and foremost but got carried away in the enormous process of building a franchise brand. It was expensive, time-consuming and downright overwhelming. But it was worth it because I was able to create the franchise opportunity that I would have wanted as a mom.
What comes to mind when you think of a franchise? McDonalds? 7-11? Supercuts? Chances are, you think of a brick and mortar business and expect that it will cost hundreds of thousands of dollars. And for those franchises, you would be right. But there are many other franchise models that are home-based, low cost and turn-key. And those things can make for a good business choice for moms.
According to the Bureau of Labor, 70.5 percent of women with kids 18 and under are working. How many of those women dream of having their own business? Creating their own hours? Working from home? But starting your own business can be risky. The Bureau also states that nearly 50 percent of new businesses fail by year two. That statistic changes if you are a franchise. Some studies have shown that franchises have a success rate of up to 90 percent. Why? Because it’s a proven business model. A franchisor has to create a system that can be replicated by all franchisees. Franchising offers a unique model to realize your dream of business ownership without doing it alone.
But why is a franchise good for moms? The right franchise is good for moms because it gives her an opportunity to be her own boss, to create her own hours and, possibly, to work from home. In other words, a career path that’s on her own terms. It’s also good business to partner with a brand that has recognition, increasing the probability of success since the franchise has established the business model, the operations manuals, the systems and more.
So, what should you ask yourself before starting a franchise?
1. Believe in the brand. You don’t want to buy yourself a job. Find a company that has a product or service that you love, one that you believe in, one that you can get excited about.
2. Do you see a need for this business? How will this franchise do in your community? What will your competition be? How can you differentiate yourself?
3. How will you learn the business? Do you need to travel to the franchisor? Do they have digital training?
4. Have you run the numbers? How much do you need to make? How much do you want to make? Will this business be able to fulfill your financial goals?
5. What will the business require of you? Some franchises have minimum thresholds for revenue. Are you comfortable with those expectations?
6. Speak to other franchisees. Why are they doing it? Do they feel the business is a good business model?
7. How much will you be expected to work? If you only want to work a few hours a day, then be honest about that. Many businesses will expect full time hours, even if not during a typical 9 – 5.
I love franchising because you’re in business for yourself but not by yourself. I find that you get as much support from your fellow franchisees as from your franchisor. Moms are a catalyst for change. Moms are leaders. Moms can have a big future in franchising.
Lisa Druxman is a mom, entrepreneur and founder of FIT4MOM and author of the upcoming, The Empowered Mama: How to Reclaim Your Time andYourself While Raising a Happy, Healthy Family (November 21, Fair Winds Press)