Women step forward for their big business break
FRANCHISE owners are desperate to attract more women, with just one in four franchisees being female.
Rachel Farr-Drejer is one of those, who a year ago became the Bath franchisee of No Letting Go, which provides a lettings inventory service.
‘I chose to invest in the franchise over setting up on my own, as it offered better technical systems, a higher profile, and the chance to be part of a bigger organisation that offered business support,’ she says.
She has increased clients by 39 pc and has five self-employed staff. She manages the business from home and cares for daughter Sofia, six, and son Rocco, 18 months.
Rachel, a recent finalist in the EWIF (Encouraging Women Into Franchising) awards, says: ‘I’d recommend franchising as a way into business for women.’
Justine Tomlinson, who recruits franchisees for No Letting Go, says: ‘Around 40 pc of our franchisees are female and we’d welcome more women. It involves managing teams, and many have the management skills to build their teams fast.’ The franchise costs £17,950. Tracy Follows has been running her Expense Reduction Analysts (ERA) cost management and procurement franchise since 2007. A former board director in London, she grew tired of commuting.
‘I looked at the options: starting my own business; buying a business; or franchising. When I saw the failure rates of a go-it-alone startup versus a franchise business — 80 pc compared with 4 pc — I chose franchising,’ says Tracy, 53.
ERA has a network of more than 140 consultants. Tracy says: ‘There is always someone to support you, either from the ERA group office or among the network. There’s experience to draw on, but you’re still running your own business.’
Matt O’Neil, head of partner recruitment at ERA, says: ‘Around 10pc of our franchise partners are women. They have good communication and organisational skills.’ The ERA franchise fee is £39,900.