The Rise of Women in Retail Franchising
South Africa is now seeing a positive shift in a country where women have often been under-represented in the business world. According to the South African Franchise Association, women own approximately 40% of retail franchises, a significant increase from previous decades. This growth highlights the entrepreneurial spirit and resilience of women willing to challenge the status quo and pave the way for future generations.
Breaking Barriers: Challenges Faced by Women Entrepreneurs
Despite the promising statistics, women in retail franchising face numerous challenges. Access to capital, gender biases, and balancing family responsibilities are some hurdles that persist. However, South African women are finding innovative ways to overcome these obstacles:
1. Access to Funding: Women often face difficulties securing loans and investments due to historical biases. Organisations like Business Partners Limited have recognised this gap and offer tailored funding solutions for women entrepreneurs. Initiatives such as the Business Partners Women’s Fund provide financial support and mentorship programs to empower women in franchising.
2. Gender Biases: Gender stereotypes can sometimes lead to women being underestimated in business settings. Many women franchisees are now forming networks and associations, such as the Women in Business Association, to advocate for equality and create a support system for fellow women entrepreneurs.
3. Balancing Family and Business: Managing a business and family can be demanding. South African women are increasingly adopting flexible business models, utilising technology to streamline operations, and ensuring a healthy work-life balance.
Achieving Success: Stories of Inspiring Women in Franchising
1. Lebo Mutloane – Owner of Chesa Nyama Franchise
Lebo Mutloane turned her passion for South African cuisine into a thriving business by owning multiple Chesa Nyama franchises. Her journey began with a single outlet in Soweto, and through dedication and strategic planning, she now owns several locations across Gauteng. Lebo’s success has inspired many women to venture into the food and hospitality sectors.
Quote from Lebo Mutloane:
“Empowering women in business is about giving them the tools and confidence to pursue their dreams. The support of fellow women entrepreneurs has been instrumental in my journey.”
Support Systems and Initiatives for Women in Franchising
South Africa offers numerous support systems and initiatives to empower women in retail franchising. Here are some notable ones:
South African Women Entrepreneurs Network: This government-funded network provides resources, mentorship, and training programs tailored for women entrepreneurs, fostering a community of support and collaboration.
SAB Foundation’s Women in Business Program: Focused on early-stage female entrepreneurs, this programme offers funding, coaching, and networking opportunities, ensuring women have the tools needed for success.
The Women in Retail Leadership Circle is an exclusive platform for female franchise owners to connect, share insights, and collaborate on industry challenges.
How You Can Support Women in Franchising
Supporting women in retail franchising doesn’t just benefit individual entrepreneurs; it strengthens communities and contributes to economic growth. Here are ways you can make a difference:
1. Support Women-Owned Businesses: Choose to shop at franchises and businesses women own, directly contributing to their success.
2. Mentorship and Networking: Encourage experienced entrepreneurs to mentor aspiring female franchisees, offering guidance and sharing insights that can lead to success.
3. Invest in Women’s Initiatives: Financial support for programmes that empower women in franchising can significantly impact them, helping them overcome challenges and achieve their business goals.
4. Promote Inclusivity: Advocate for inclusive policies within franchising networks, ensuring equal opportunities for women to thrive.
5. Back yourself: According to a Daily Maverick newsletter published on 6 August 2024, 57% of women don’t have any investments. The first step to financial freedom is saving, preferably 30% but at least 10% of your income.
Many banks and insurers offer “save your change” initiatives where each transaction contributes to a savings account, making it easy to save without effort. Or start saving the money you use for your daily cappuccino or buy lunch every day and see how your money grows. Every entrepreneur needs financial back-up to take that first step in starting a business.
Looking Ahead: The Future of Women in Retail Franchising
The future of women in retail franchising in South Africa looks promising. With increasing support from government initiatives, financial institutions, and industry associations, women are set to continue their upward trajectory in the business world. By fostering an environment encouraging innovation, inclusivity, and collaboration, South Africa can expect even more women to break barriers and succeed in retail franchising.
