According to a recent study, women entrepreneurs are making quite a name for themselves in the franchising industry. In a ten-year period, from 2012 to 2022, the number of women-owned franchises increased by a staggering fifty percent. Even by 2017, there had been an exponential growth rate of almost forty percent, which clearly illustrates the upward trajectory of female business ownership. There are several determining factors that have contributed to this, some of which we’ll be looking at today.
Now more than ever, mothers are struggling to balance work and childcare. Many franchising opportunities offer semi-absentee models that allow franchise business owners to work a flexible schedule. With the ability to work 10-20 hours per week, the semi-absentee franchisee has greater control in balancing her work and family.
There was a concerning study conducted by Guidant Financial that showed three out of ten women lacked support in the small business world. This lack of support has prevented or discouraged many from attempting to start their own businesses. To this end, many women have opted for franchising due to the built-in support systems and guidance from the franchisor during the first year of ownership and beyond.
Women who enter the business world sometimes find it challenging to secure a loan, with almost three-quarters attesting that they had to rely on their immediate families for financial aid to get their dream business off the ground. Many franchising opportunities include help securing small business loans for just these reasons.
Many women are drawn to franchisors that emphasize community involvement, flexible schedules, and prioritizing the environment. Groups such as the International Franchising Association’s Women’s Franchising Committee offer networking opportunities, support, and solidarity in helping women get on the fast track to success. Through networking, many women have found tools and advice to help them get ahead.
As more women tap into their entrepreneurial spirit, they find franchising can offer a myriad of opportunities that provide challenge, training and support, and a road map for success, along with the flexibility and lifestyle they need. If you’ve been looking for the opportunity to enter the business world, let FranSave help you. We’ve provided many with the necessary tools for success and can help you, too. For more information and to find out what opportunities await you, visit us at fransave.com.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your jurisdiction. Franchise offerings are made by Franchise Disclosure Document only.
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