Author :

Martin Greenspon

Martin Greenspon founded M-Four in 1981. His lifetime career has included the manufacturing sector as well as being a Director of one of Canada's leading investment firms. He can be reached at martin@mfourintl.com

Over the last thirty years, M-Four International has developed North America’s most comprehensive franchise development consulting group. During that time, M-Four has seen a steady growth of women entrepreneurs becoming franchisors or investing in their own business as franchisees in established systems, some which may be especially focused on the interests normally associated with women.

In Canada, statistics show that in the past 15 years, there has been a 50 percent increase in the number of self-employed women in Canada, and one million Canadian women will own a small business by 2012. There are now 800,000 women business owners in Canada and the number of women-owned businesses is growing 60 percent faster than those run by men.

A particularly good piece of news is that the growth of women-owned businesses is more likely to be because of choice rather than poor economic circumstances. In 2004, only one in five self-employed women who had worked as an employee indicated that she was pushed into going into business for herself because of negative employment circumstances - a rate lower than that of self-employed men, which is one in three.

Today, there is a strikingly powerful force of women wanting to be their own boss and choosing franchising as their platform for success. With more programs tailored for women, easier access to financing and information and better training efforts, a more cooperative climate is being created. The franchise industry recognizes the enormous value of women operating either as franchisors or franchisees striving for individual excellence and financial independence.

Utilizing a test to help one determine whether they have the personality to run their own business :

Use a scale of 1 to 5 to determine how the following statements apply to you : a 1 means you disagree, 5 that you agree strongly.

1• I rarely give up

2• Whatever happens, I look on the bright side

3• I’m prepared to work more than a 40 - hour work week

4• I like to make decisions

5• I can throw myself into something if I like it

6• Risky activities are thrilling

7• I enjoy life’s ups and downs

Score 28? You’ve got it. Under 18? Think salaried work.

EXPLANATION

1• Determination is key

2• You must be an optimist. A belief in a future for your business is crucial

3• Entrepreneurs work long hours

4• You have to make lots of decisions, alone and fast

5• Enthusiasm is crucial

6• Risk comes with the territory

7• So does uncertainty


So the spirit is willing. That’s good. But it’s not enough.

Financing to support the start up of the “budding” entrepreneur’s franchise business or the continued growth of the thriving venture is fundamental and available.

According to Martin Greenspon, President for M-Four International, a winning entrepreneur is subject to both tangible and intangible factors.

They will need a positive attitude, determination, a strong work ethic coupled with a “burning” desire to succeed… and overall financing to support the business through the different phases of growth the enterprise will encounter.

More than ever, franchising offers women opportunities to realize tremendous personal success and the accompanying financial rewards.