This is according to the Group Chief Operating Officer of The Franchise Co, Marcel Strauss, who was explaining to the Business Hour why franchising is a great option for a newbie entrepreneur who has capital, but limited resources. Strauss says there are women who are hugely successful in the franchising industry and he only sees this getting better as more women are empowered financially.

Strauss says franchising is a good alternative for a starting entrepreneur, because for a certain requested fee/starting capital, you get what he calls “a turn key operation” in other words, franchisor puts everything in place for the entrepreneur. This includes training, intellectual property – trademarks, patents, copyrights etc – human resource, operational manuals, supply chain and marketing amongst a slew of others. Strauss says you’re never really alone, you have the franchisor, backing your venture up and helping you succeed.

The franchisor assists their clients with recruiting suitable staff to work in the business and offers up trainers to provide theoretical training to the hired staff. This includes providing directives on how food is made at the franchise – if it is a food franchise.

Strauss’ advice to individuals looking into franchising, is to be selective when it comes to identifying a suitable location for their business. This has often led to people’s downfall, because they have difficult landlords – some of whom may demand rent despite the pandemic for example. He says control and sticking to the rules of the franchisor are the other keys to success in the industry.

Covid-19 has also challenged the franchise business, with Strauss saying “consumer behavior and purchasing habits have completely changed the world over. A year ago, before the advent of the Corona virus, people frequented restaurants, pubs, clubs, and congested malls without concern and as part of a regular social outing with friends and family. With the Covid infection rates still concerningly high and people being more conscious of potential health risks, purchasing decisions are now being driven by the most basic needs”.