For years, we’ve swatted aside the stereotype that women are risk adverse. “We” being most of the folks who make up the franchise sector. That stereotype just doesn’t prove out. We have reported within these pages the scores of women who have founded franchise brands, and on the flip side of the coin, women who have become franchisees. If you create a brand, there’s risk. If you put up your hard-earned money to become a franchisee, there’s risk in that, too.
We see it here again this month in Franchise Times. No, this isn’t an issue that is specifically highlighting women in franchising. These are just the everyday stories that are popping up more as time goes on.
Take the article on Amazing Lash franchisee Elaina Watley, who owns five locations. Originally a sports marketer with her own agency, she turned to franchising for her next opportunity, and envisioned bringing other women along with her. In order to encourage employees to become business owners, Watley brought in her financial adviser to give financial literacy and preparedness classes. Recently, another one of her stylists became a co-owner with her.
“To be profitable and scalable, you have to have partners,” she told FT Editor in Chief Laura Michaels. “You can’t be in 10 places at once, but if you have partners, you can.” We’re betting she’ll grow that business even more with that mindset.
Then there is the story on Grace Huxtable-Mount, The Learning Experience franchisee who has also grown her business to five locations. She began her career as a teacher, and never considered becoming an entrepreneur. But she was passionate about teaching, so she and her husband started a tutoring business. You’ll have to read how she parlayed that into becoming a franchisee, which later allowed her to take time off to tutor in Okinawa, Japan.
Five must be our lucky number this issue, as Restaurants Editor Nick Upton quizzes Togo’s franchisee Letha Tran about growing her business to that many locations in California. For her, like, Amazing Lash’s Watley, it is all about the people and providing growth opportunities for them. “To be a multi-unit operator, believe in the people. Hire good people and have a good process and it will all fall in place,” Tran told Nick.
Our cover story emphasizes that notion, as well: It’s all about the people. Focus Brands, the multi-brand franchisor of seven restaurant concepts, has put its money on the people who will lead the menu innovation there.
FT Senior Editor Beth Ewen visited their headquarters in Atlanta, and met with the chefs leading the R&D, as well as some of the leaders at Focus. It’s costly, said Focus CFO Mike Dixon, but innovation “it’s ongoing. It never stops.”
Will the company keep up that pace when they add new brands to their portfolio? Beth writes, “…executives look at Focus Brands’ extensive culinary operation, with seven chefs and their attendant R&D teams, as something they will duplicate with any new acquisition, especially to keep legacy brands happy.”
There’s so much of interest to read in this month’s issue, including the story of the PR executive who fell in love with the brand whose marketing strategies she was planning—so much so she became a franchisee. There are stories about the restaurant CEO who is “freakishly bad at cooking,” changes in franchise executives routines during the pandemic and the franchisee who designed a concept the franchisor is now selling.
The best thing about covering this business sector are the entrepreneurs: They are all interesting. And that’s a stereotype that plays true, every time.