It’s no secret that the franchising world has seen a significant increase of female franchise business owners. In fact, the International Franchising Association (IFA) recently reported that 30.6% of franchise businesses are now women-owned, which has increased more than 50% over the past five years. More and more, women are choosing franchising as a viable option for them.
So what is it about franchising that has stirred female interest? And why are more and more women finding a home in the franchise business world today? For many people, owning a franchise provides unique advantages for business ownership. Additionally, many people are attracted to franchising due to the flexibility of being your own boss and the security of working with a proven business model. With women having general skill sets of organization, quick thinking, communication, and financial awareness, franchising tends to be a great fit. The era of women is here and it’s rising – here are some reasons why franchising is a great world for women.
Franchises in industries that are less driven by women often give women a leg up to invest.
Historically, industries like beauty and wellness excel under female leadership, while others like service brands and food chains tend to be predominantly run by men. Because of this, many companies provide specific advantages for women to help break the company out of the male-dominated mold.
For example, let’s take a look at Neighborly, franchisor of home service brands focused on repairing, maintaining and enhancing consumers’ homes and properties. Recent research has shown that 4% of Neighborly brands’ frontline service professionals are women, which provides a huge opportunity for savvy female entrepreneurs to make their marks on the industry. In fact, in an effort to encourage women to pursue careers in the trades, Neighborly established a Women in the Trades program, which provides scholarships to women every semester to fund their skilled trade school educations. To date, Neighborly has awarded scholarships to nearly 50 deserving women. Many companies today offer programs similar to this, offering women unique benefits to help increase leadership opportunities in their respective industries.
The opportunities are endless, and the knowledge provided is invaluable.
From food service to home service and everything in between, the franchise world has a presence in every industry, making it widely appealing for all entrepreneurs. What’s more, the franchising business model has a proven track record of success. Not only will franchisors provide in-depth, ready-to-use information on how to successfully run and maintain the business, but they’ll also offer extensive blueprints with training, setup, and support plans to give the franchisee a clear outline for success. Many female entrepreneurs report that one of the biggest benefits of joining a franchise is gaining access to an endless amount of opportunities and intimate knowledge to be able to do something they are passionate about, all while being successful in the meantime.
It’s an opportunity to be a part of an established and well-known brand.
To piggyback off the point above, because franchisors have such an established and well-developed model, female entrepreneurs will be buying into a business that has already produced success with consumers who respect the brand – making their chances for success even greater. For example, Molly Maid, a Neighborly company and the nation’s leading residential cleaning franchise, continues to see growth in success under the Neighborly company umbrella. The 35-year-old brand has an estimated 60% of its franchises owned by females.
The franchising world is a powerful network.
One of the many traits that women entrepreneurs share is their willingness and readiness to collaborate with others. Numerous women-specific networking programs, such as the Women’s Franchise Network (WFN), are designed to strengthen the success of women in the franchise industry by fostering connections and relationships with women in franchising in markets across North America. Other organizations, like the Association of Women Business Centers, even offer established workshops, seminars, mentoring programs, and funding opportunities for women interested in operating a franchise.
Security and overall flexibility boost when owning a franchise.
The franchise concept has a unique appeal to female entrepreneurs because it offers a sense of security and flexibility that’s commonly challenging to achieve in the corporate business world.
To add, female business owners tend to look at their goals from various angles and perspectives instead of being completely driven by their financial status. Because of this, it often results in them seeking businesses that accommodate their lifestyle. Franchising allows the opportunity to pursue other priorities while running and maintaining a business, whether it’s raising a family, traveling the world, or performing as an athlete.
Dina Dwyer-Owens is the Brand Ambassador of Neighborly (formerly Dwyer Group). America also knows her for participating in CBS’s Emmy-winning hit reality show “Undercover Boss.” Dina is a certified franchise executive with more than 35 years of industry experience, including 15 years as CEO of Dwyer Group, known now as Neighborly, the world’s largest franchisor of home service brands. Dina is the author of two books: Live R.I.C.H. and Values, Inc. that both share her global message for living and leading with a proven code of values. Books are available for purchase at Values-INC.com.