Women and franchising
Cathryn Hayes - HSBC Head of Franchising
With four out of ten franchisees now being women, we look at the important role women have to play in the UK franchise market.
The latest research from the British Franchise Association indicates that four out of every ten franchised businesses are now owned by women. Compare this to just 21 per cent in 2003, it demonstrates the increasing importance of women in the UK franchise market.
In the South East, a number of franchisors, franchisees and franchise advisors, including HSBC, have come together to create the Encouraging Women into Franchising Group (EWIF). The mandate of the group is to inspire, educate, encourage and support women looking to become franchisees, women business owners looking to franchise their business or businesses and existing franchisors that are under represented by women franchisees. If you feel this is something that would benefit your franchise and are interested in finding out more, visit the website.
The franchise industry is aware of the potential of women as prospective franchise owners and tapping into this market can help overcome one of the biggest barriers to growing a successful franchise network – the recruitment of franchisees with the required qualities and skills.
Sophie Brooks, operational director at Clive’s Easylearn, knows this all too well: “Women have been invaluable in growing our network. We now have 28 franchisees, running 84 schools across the UK, nearly half of which are women. We have found that women have all of the qualities we are looking for in our franchisees and have been very successful in growing their businesses.”
So that’s the franchisor perspective, what about the franchisee?
Amanda O’Rourke runs a Molly Maid franchise in Horsham, West Sussex. After working in a corporate environment for many years, O’Rourke decided that she wanted to work for herself and launched her business in November 2007. She comments: “I chose a franchise in a rapidly growing industry, in an area where I knew there to be a huge demand for good quality domestic services. I wanted not only to meet that demand, but also to have a business to be proud of.” Now she certainly does have a business to be proud of. Since launch she has grown the business to have four teams on the road and as a result of her hard work, she was awarded the Top Sales Growth Award at this year’s Molly Maid convention.
Many women who have been running a home and raising a family have many of the attributes needed to run a business successfully – they are decisive, energetic, well organised and are used to doing at least three things at once. Plus, being their own boss means that many women can achieve the work-life-balance they have been striving for. However, many lack the confidence to set up on their own. This is where the benefits of franchising come to the fore – a good franchise eliminates this problem by providing training, a tried-and-tested format and ongoing support.
As the figures show, this is something more and more women are considering.
Posting from the monthly HSBC Connections newsletter. For more information or to get on the mailing list for the newsletter please email franchiseunit@hsbc.com
Tags: cathryn hayes, encouraging women into franchising, franchises for women, Women in franchising, Women into Franchising Group
Franchise News: Franchisee of the Year Award 2010 Finalists Announced
Cathryn Hayes - HSBC Head of Franchising
Following on from the launch of the bfa HSBC Franchisee of the Year Awards 2010, I am pleased to announce that 16 exceptional franchisees from across five UK regions have now been short listed:
London & the South East
- Wayne Mearns, Belvoir Lettings, Southend-on-Sea & Basildon
- Guy Whittaker, Dairy Crest, Guildford
- Peter Sullivan, McDonald’s, London
Scotland
- George Stewart, Apollo Blinds, Hamilton
- Frank Sutherland, Autosmart, Aberdeenshire
- Stephen McMurray, Signs Express, Falkirk
The Midlands
- Chris Bird, Autosmart, Stoke-on-Trent
- Peter Morrison, Granite Transformation, Cambridge
- Glyn Pashley, McDonald’s, Coventry
The North
- Pamela Schure & Colin Belton, Belvoir Lettings, West Cumbria
- Andy & Vicky Thompson, Card Connection, Gateshead
- Catharine & Mike Chalton, Home Instead Senior Care, Wirral
- Gerald Thompson, McDonald’s, Manchester & Oldham
The South West and South Wales
- Nick Bourne, Cash Generator, Weymouth
- Andy & Shelley Stewart, Dream Doors, Dorset & Taunton
- Claire Lamputt, LighterLife, Bridgend
Operating in sectors as diverse as automotive, fast food, home improvement and lettings, the finalists encapsulate the best qualities in franchising. They will now pitch to the bfa judging panel of Sir Bernard Ingham, President, bfa, Brian Smart, Director General, bfa, Cathryn Hayes, Head of Franchising, HSBC, Paul Monaghan, Director, The Franchise Development Centre, Hannah Poulton, Associate, Franchise Team, TLT Solicitors LLP
“We have seen some truly inspirational franchisees through the nominations again this year and it just goes to show that British entrepreneurialism is most definitely alive and well – despite the recent challenges brought by the economic conditions.
“As a leading bank working with franchisees across the UK, we’ve seen innovation and revolutionary business problem solving as a very positive theme. This has been reflected in the bfa HSBC Franchisee of the Year Award 2010 nominations, and the final fifteen are a real credit to the franchise industry.
“I am very much looking forward to meeting the individuals behind some of the best franchises in the UK as part of the final judging stage.”
Once the 16 finalists have presented to the bfa panel in late July, five regional winners will be chosen to compete for the coveted UK bfa HSBC Franchisee of the Year Award 2010.
All the winners will be announced at a gala awards dinner at The NEC Birmingham on 30th September.
Looking East – the changing face of World Business
Cathryn Hayes - HSBC Head of Franchising
Just 14% of businesses in the UK recognise that Asia could drive future opportunities for business, yet a new report commissioned by HSBC identifies that there is huge potential for companies to prosper from the new markets in the East.
Noel Quinn, Group General Manager for HSBC Commercial Banking UK, said: “The UK is no longer looking at when West meets East, but at how the East will redefine the West and the way we do business. By understanding this fundamental and fast-paced change,
British businesses can ensure they are in a position to respond swiftly and effectively; and it is the thinking business that acts now. There is still a high volume of UK firms that just perceive the East as a traditional ‘low cost’ production and labour destination, but there needs to be a shift change in attitude as Asia and the Middle East become the brightest prospects on the global landscape“.
“There is also a massive opportunity for British exporters, Asia is largely positive about British brands and the consumer market is growing rapidly, giving UK businesses a platform to increase their trade. At HSBC, we are seeing export balances up by 45% compared to this time last year, which is hugely encouraging and demonstrates where some of the real opportunities for business growth lie. We have, and will continue to help businesses with the financial tools to take advantage of the opportunities in the East through our unrivalled on the ground presence, knowledge and local expertise.”
‘Looking East: The changing face of world business’ is the first report which identifies the most influential current and future trends in ‘the East’ – and interprets these to define practical implications and opportunities for companies in Europe. It highlights that ‘thinking businesses’ in the UK can proposer by factoring Asia into their strategic thinking, actively addressing how to capitalise on its diverse consumer base, skilled workforce and advances in Research and Development, while mitigating the risks posed by the macro-economic climate.
The research also reveals that many UK companies already doing business internationally are recognising the potential; it shows they are significantly more likely to see the East as a market with an increasingly highly skilled workforce than their non-international counterparts. And international traders are twice as likely to view the East as being a hub for increasingly sophisticated innovation methods.
These opportunities also apply to franchising and we have seen a number of larger companies looking to expand into Asia using the franchising route. One specific example is Mama’s & Papa’s who were recently featured in HSBC’s 100 Thoughts campaign. Their initial decision to expand abroad came from the fact that so many companies were contacting them about a franchise, many after seeing their flagship Regent Street store.
If you feel this is an area you can consider for your franchise, please email HSBC Franchise Unit at franchiseunit@hsbc.com for a free copy of the Looking East report.
