Franchise Opportunities for Women and Minorities
There are no shortage of franchises that promote themselves as excellent matches for certain segments of the population. “Veteran” franchises “women” franchises “minority” franchises and more.
Make no mistake that in most cases a franchise is aligning itself with a specific demographic only in order to increase market share. That isn’t necessarily a bad thing, however an educated investor will ignore such franchise designations.
Many people however use this criteria as an emotionally charged starting point from which to begin their research. It is human nature to gravitate towards things that are allegedly suited to “us” specifically.
And from this emotional inertia a perceived connection is felt that often has candidates overlooking negatives that might be spotted had the connection been absent. After all this is a woman based franchise, they surely must be good people to be a part of creating such a group?
And what makes a good franchise for a woman yet not a male veteran? Why is one franchise better for minorities? When the majority of these brands are researched we often see there is no logical reason one person would be better suited than another. In fact isn’t aligning a franchise brand to a specific demographic somewhat stereotypical?
Don’t allow yourself to be emotionally guided in your franchise buying decision. Look at the business model, the historical success, the feedback from existing owners, the public brand perception and other relevant attributes of the business. Ignore slick marketing campaigns that would designate a franchise as potentially more successful if operated by a woman or a minority.