Global Franchise 9.1

eave it to the franchise community to defy the odds in tough economies, ensuring longevity for brilliant brands and providing opportunities to the masses. This trend includes a growing number of women in the c-suite among both franchisors and franchisees. While the Fortune 500 claims just 10% of female CEOs (who typically have much shorter tenures at the top than men, averaging just seven years at most) women in franchising by contrast are having a field day. Following a year when the Barbie movie hit the headlines for promoting female empowerment, thank goodness franchising has been providing real-life examples for years. According to research by Guidant Financial, it’s estimated that women account for approximately 31% of all small business and franchise ownership in the United States. A third of those have successfully owned and operated their businesses for 10 years or longer. Throw in franchisor leaders too, and there’s reason to sit up and take notice around the world. In the food space alone, Restaurant Business reported at least a dozen restaurant chains and major franchisees that have recruited women into the CEO spot in the past 15 months. They included Heather Neary at Taco John’s, Beth Scott at MOD Pizza, Denise Nelson at Smashburger, Jennifer Schuler at Handel’s Homemade Ice Cream, Liz Williams at El Pollo Loco, Suzie Tsai at Bonchon U.S. and Christine Barone at Dutch Bros. among others. Talk about igniting change. This is not a new phenomenon. Women have been defying stereotypes in franchising for decades, taking advantage of equal opportunities already present in the business model and trailblazing a path for many more to follow in the process. They’ve also been displaying some important leadership qualities well worth sharing... 1 Strong communicators with visionary qualities Strong leadership is most effective when communication is L clear and frequent. Women leaders who have honed their voices can articulate their vision, motivate others, provide clear direction, and foster trust among teams. One franchise leader embodies all these qualities and more, offering 43 years of service and earning a spot in the Hall of Fame as her playbook. This year, at its annual convention, the International Franchise Association (IFA) did something that’s only happened twice in the history of the organization: it inducted a sole female member into its prestigious Hall of Fame, honoring Catherine Monson, CEO of Propelled Brands, for her significant contributions to franchising. “She has been a force in franchising for over four decades,” remarked Jay Duke, the national managing principal of advisory services for BDO USA. From her beginnings at Sir Speedy to her tenure as CEO of FASTSIGNS and now her current role as CEO of Propelled Brands—a platform company encompassing FASTSIGNS, NerdsToGo, MY SALON Suite, and Camp Bow Wow—Monson has achieved more in her leadership journey so far than many do in a lifetime. Meanwhile, her advocacy efforts at home and globally challenge the constraints of time to accomplish it all. “Her commitment to the advance of the franchise business model is absolutely unparalleled,” said Duke. “Appearing regularly on Capitol Hill, Catherine will always push for what’s best for small businesses and the people who make franchising their home.” Monson’s two-year tenure as chairwoman of the IFA during the pandemic showcased her strength and resilience in advocating for the collective welfare of small business owners worldwide. Amidst companies facing vulnerabilities, government scrutiny over essential services, and people compelled to stay indoors, Monson steered the association and the entire franchise community through challenging times to emerge stronger on the other side. She spoke often and with authority. She rallied for the community, lobbied in Washington, authored articles and granted interviews while simultaneously running and growing her own organization with incredible prowess. When the world went quiet, Monson got vocal. The IFA was heard. The PPP money flowed. Small business owners were saved. Survival turned into perseverance. And perseverance turned into flourishing success. This fluent and confident communicator has given all of us a masterclass on the importance of speaking up for franchisee profitability and how to defend it, which continues through to today. 2 Clearly defined values that drive culture Successful women franchise leaders also demonstrate a penchant for ethics and conducting business the ‘right’ way. Psychologically, society also tends to associate women with this character trait. According to a 2022 study by social psychologist Mansi P. Joshi, PhD, female leaders enhance the perceived level of organizational trust, and their presence alone promotes the concept of fair treatment. One resilient figure stands out in this regard, a former U.S. Marine who excels at rallying the troops. It could be her commendable military service background that equipped her for success in civilian life, or her openness in advocating for embracing discomfort and fostering innovation, which has benefitted over 5,800 franchisees globally. Mary Thompson, COO of Neighborly, consistently emphasizes the company’s Code of Values alongside the remarkable strengths evident daily within the world’s largest home services organization. “Women leaders who have honed their voices can articulate their vision, motivate others and foster trust” GLOBAL-FRANCHISE.COM 71