When I started this business in 2002, only 5% of my clients were women, but over the last several years, there’s been a huge trend in female entrepreneurship, and currently, over 35% of my clients are women!
During my research for my book, many franchisor CEOs told me that their female franchisees are better at multi-tasking and have more empathy than men, so they run better businesses than the male franchisees! So let’s look at a few reasons why so many women are considering franchise ownership:
Breaking Barriers: Wage Gaps, Glass Ceilings, and the Drive for Independence
For many years, there has been wage inequity, where women earn less for doing the same work as men, but get paid less for doing the same job. While this gap has been closing, it’s still a very real factor in many industries. I often hear from my female clients that “it’s time to get paid what I’m worth!”
Another factor is that the corporate glass ceiling is tough to break through. With franchise ownership, women have the freedom to grow and scale the business to the level that they want, with no one in the way or holding them back.
Control, Flexibility, and Purpose: Why Franchising Fits Women’s Lives
Perhaps the biggest factor I hear from my female clients is “I want more control over how my work and family life integrate”. They seek greater control and flexibility because they want to be present for their families, whether that’s raising their kids, looking after their ageing parents, or both. When they own a franchise, they can choose where to focus their best talents, while building a team to look after the day-to-day aspects of the business.
Some franchise opportunities are geared to serve female customers, so these are great options for female entrepreneurs. In some markets, there are even special programs and incentives to help women get set up in business.
If you’re thinking, “ I can do better in my own business than in a corporate job”, you’re probably right, but let’s find out together! I’d be happy to learn more about what you’re seeking, and share my perspectives about the types of businesses that are attracting more women, what they’re buying, and why.
Let’s have a discussion. Book a call now.
Originally posted on LinkedIn
