Johannesburg - International Franchise Association (IFA) on Thursday said there were more than 25% of women operating franchises in the world and that doesn’t include another 17% of the population where men and women operate franchises together as partners.
Over the last ten years, the franchising industry has seen a trend of more women taking up opportunities in franchising and this is expected to further increase over the next five years.
Head of Franchising at FNB Business, Morne Cronje, said “Women have the ability to use their time, energy and resources effectively to meet and achieve business goals. This trait, in my view, is the cornerstone for successful women in franchising. In a country like South Africa, the growing involvement of women in franchising is vital, considering that women make up the majority of our population.”
Cronje shared four successful franchise industries that women were dominating in which were Education, Slimming salons, Accessory and arts and Beauty salons & Nail bars.
“Despite the limited awareness about the important role and great strides that women continue to make in franchising, it’s important for more women to consider exploring opportunities in this sector since it’s one of the most resilient,” said Cronje.
Cronje said the success rate of a franchise business was far better than a traditional start-up or small business. Consequently, franchising was one of the few industries in South Africa that are showing steady contribution to the economy and employment.