Industry Trends, TES Insights

The Future is Women in Franchising: How Female Entrepreneurs are Leading the Way

The franchise industry has seen a significant increase in women-owned businesses in recent years. Women are changing the gender norms in male-dominated industries, and franchising is no exception.

According to the International Franchise Association, women-owned franchises have grown by 38% in the last decade, and women now represent 30% of all franchise owners in the United States.

This trend is not just limited to the US; women are becoming more interested in franchising worldwide. The International Franchise Association has seen more and more women entering franchising and for good reason. Women often bring unique qualities and perspectives as business owners that bolster their success. Rhea Lana’s is a children’s clothing consignment event business with all-women franchise owners. The future of franchising is female, and this trend is expected to continue in the coming years.

Women-owned franchise businesses have been on the rise, with a 38% increase in the last decade in the United States alone. 2017, women owned 27% of franchise locations, compared with 20.5% in 2007. These numbers do not include another 17% of the population where men and women operate franchises together.

Franchising can be a tremendous opportunity for women to forge a path to meeting their personal and financial goals. In franchising, women are successful entrepreneurs with the skills, knowledge, and passion to run their own businesses. They possess unique qualities that make them great franchise owners, including strong communication skills, attention to detail, and the ability to multitask.

The International Franchise Association (IFA) has recognized the importance of women in franchising and has established the Women’s Franchise Committee (WFC) to inspire and encourage women in franchising. The WFC is dedicated to creating a network of business professionals committed to strengthening women’s success in franchising.

Despite the positive trend, there is still work to be done to ensure that women have equal opportunities in the franchising industry. Women in franchising still face challenges, such as accessing capital, finding the right franchise opportunity, and balancing work and family responsibilities.

Benefits of Franchising for Women

Franchising offers a range of benefits for women interested in owning their own businesses. Here are some of the key advantages:

• Flexibility
  One of the biggest benefits of franchising for women is its flexibility. Many franchises allow franchisees to set their own schedules and work from home, which can be particularly appealing for women juggling family responsibilities.
• Established Brand
  Franchising also provides women with the opportunity to tap into an established brand. This can be particularly helpful for women new to business ownership and may not have the experience or resources to build a brand from scratch.
• Support
  Franchises typically offer high support to their franchisees, which can be invaluable for women new to business ownership. This support can include everything from training and marketing to ongoing coaching and mentoring.
• Work/Life Balance
  Franchising can also provide women with a better work/life balance. Many franchises offer flexible schedules and the ability to work from home, making it easier for women to balance work and family responsibilities.
• Freedom
  Franchising also allows women to run their own businesses while benefiting from a larger organization’s support and resources. This can particularly appeal to women looking for the best of both worlds.

Overall, franchising can be an excellent option for women interested in owning their own businesses. With its flexibility, established brand, support, work/life balance, and freedom, franchising offers a range of benefits that can help women achieve their entrepreneurial goals.

Challenges Faced by Women in Franchising

Despite the increasing number of women-owned businesses, women still face several challenges in franchising. Here are some of the challenges faced by women in franchising:

1. Gender Gap
   The gender gap is a significant challenge for women in franchising. Women are underrepresented in franchising, particularly in the construction, automotive, and food service industries. As a result, women often face difficulties in finding suitable franchise opportunities.
2. Gender Pay Gap
   The gender pay gap is another challenge that women face in franchising. Women often earn less than men, making it difficult for them to secure financing for their businesses. This pay gap also affects women’s ability to save for retirement, impacting their ability to invest in a franchise.

Success Stories of Women in Franchising

The future of franchising is bright for women, as evidenced by the increasing number of successful women. One of the most successful women in franchising is Susan Black-Beth, the founder of SuperCoups, a direct mail marketing company. She started her company in 1982 and grew it to over 300 franchises before selling it in 1998 for $33 million. Today, she is a sought-after speaker and consultant in the franchising industry, sharing her insights and experiences with others.

Another successful entrepreneur in franchising is Shelly Sun, the founder and CEO of BrightStar Care, a home healthcare franchise. She started her company in 2002 and has since grown it to over 300 locations in the United States and Canada, with over $400 million in annual revenues. She has been recognized as one of the top female CEOs in the country and has received numerous awards for her leadership and business acumen.

In addition to individual success stories, there are also many successful franchisors that are women-owned or led. For example, Massage Envy, a popular massage and spa franchise, is led by CEO Beth Stiller, who has helped the company grow to over 1,100 locations in the United States. Another example is Edible Arrangements, a fruit bouquet franchise led by CEO Tariq Farid and his wife, Kamran Farid. Kamran is responsible for the company’s marketing and has been instrumental in its growth and success.

Overall, women are making significant strides in the franchising industry, with more and more women-owned businesses and successful franchisors. These success stories inspire other women entrepreneurs looking to enter franchising and achieve their own franchise success.

Role of Organizations in Supporting Women in Franchising

Organizations play a crucial role in supporting women in franchising. The International Franchise Association (IFA) is one such organization that has been at the forefront of promoting women’s participation in franchising. The IFA has a Women’s Franchise Network provides a platform for women to network, share ideas, and learn from each other. The network also offers mentorship programs, leadership training, and educational resources to help women succeed in franchising.

The Women’s Franchise Committee (WFC) is an IFA subcommittee dedicated to inspiring and encouraging women in franchising. The WFC provides a platform for women to connect with each other and share their experiences. The committee also offers educational resources, mentorship programs, and leadership training to help women succeed in franchising.

The Future of Women in Franchising

The future of women in franchising is promising. As more women become business owners and entrepreneurs, the franchising industry is shifting towards female franchise owners. This trend is reflected in the rise of women-owned businesses, which grew by 58% from 2007 to 2018, compared to the national average.

The phrase “the future is female” has become a rallying cry for many women in various industries, including franchising. Women are breaking down gender norms in male-dominated industries and are proving to be excellent franchise owners. They bring a unique vision and perspective to the table, which can lead to innovative ideas and successful businesses.

Female franchise owners possess key skills that make them excellent business owners, such as engaging their target market and growing their businesses. They are also known for their strong work ethic, attention to detail, and business commitment. These traits make them ideal candidates for franchising, where following a proven business model and attention to detail are crucial for success.

Impact on the Franchise Industry

The rise of women in franchising has significantly impacted the franchise industry. According to the National Restaurant Association, women-owned businesses make up 50% of all restaurants in the United States. In addition, women-owned franchises have increased by 83% in the past decade, and women now own 35% of all franchises in the U.S.

The impact of women in franchising has been felt across many business sectors, including food service, retail, and healthcare. Women have brought new ideas, perspectives, and management styles to the industry, leading to increased innovation and growth.

A study by the Franchise Business Review found that women-owned franchises outperformed male-owned franchises in several key areas, including employee satisfaction and work-life balance. Women were also more likely to invest in franchises aligned with their values and passions.

The franchise industry has recognized the importance of diversity and inclusion, and many organizations are actively working to support and promote women in franchising.

Women are making significant strides in franchising, and the trend is expected to continue. The number of women-owned businesses has grown significantly in the past decade, and women are now taking on more franchise ownership roles than ever before.

As more women enter the franchising industry, they bring new perspectives, ideas, and approaches. This diversity is helping to drive innovation and growth in the industry, which benefits everyone involved.

While there is still work to be done to close the gender gap in franchising, the progress that has been made is encouraging. Women are proving that they have what it takes to succeed in this industry and inspire others to follow in their footsteps.

10 Best Franchises for Women in 2024

The franchising industry has been growing steadily, and women have been a significant part of that growth. Women-owned franchises have been increasing faster than any other type of franchise. In 2024, women will have even more opportunities to start their own franchises. Here are ten of the best franchises for women in 2024:

Dream Vacations: Dream Vacations is a travel franchise that attracts women because of its low startup costs, flexibility, and travel opportunities. The franchise has 1,400 owners who help travelers book air, hotel, all-inclusive vacations, and cruises.

Card My Yard: Card My Yard is a service-based franchise gaining popularity among women. The franchise offers personalized yard greetings for special occasions such as birthdays, graduations, and weddings. The startup costs for this franchise are relatively low, making it an excellent opportunity for women entrepreneurs.

CarePatrol: CarePatrol is a senior care franchise that has grown in popularity among women. The franchise helps families find the best senior living options for their loved ones.

Chicken Salad Chick: Chicken Salad Chick is a food and beverage franchise gaining popularity among women. The franchise offers a variety of chicken salad dishes, soups, and sandwiches. What started as a small takeout restaurant in 2008 in Auburn, AL, has quickly grown throughout the Southeast and is now paving the way for entrepreneurs nationwide. We are uniquely positioned in the fast-casual space.

The Little Gym: The Little Gym is a children’s franchise that has grown in popularity among women. The franchise offers gymnastics, dance, and karate classes for children. With more than 400 locations across the globe, The Little Gym is the world’s premier enrichment and physical development franchise for kids ages four months through 12 years

Club Pilates: Club Pilates is a fitness franchise that has grown in popularity among women. The franchise offers Pilates classes for all levels of fitness. With more than 800 studios globally, spanning 4 continents, Club Pilates is the largest Pilates brand and studio network worldwide.

HomeVestors: HomeVestors is a real estate franchise that has grown in popularity among women. The franchise offers real estate investment opportunities for entrepreneurs. The startup costs for this franchise are relatively high, but the profit potential is significant.

Amazing Lash Studio: Amazing Lash Studio is a beauty franchise gaining popularity among women. The franchise offers eyelash extension services. They are part of the WellBiz Brands of franchise opportunities.

Mathnasium: Mathnasium is an educational franchise that has been growing in popularity among women. The franchise offers math tutoring services for children. For decades, the Mathnasium Method™ has transformed the way kids learn math.

FASTSIGNS: FASTSIGNS is a signage franchise that has been growing in popularity among women. The franchise offers custom signs, banners, and graphics. As a growing $29 billion industry, signage and graphics will be in demand as long as businesses need to be seen. FASTSIGNS will be there to create captivating, high-performing visuals for businesses worldwide.

Women entrepreneurs have been making significant strides in the franchising industry, and these ten franchises offer excellent opportunities for women to start their own businesses. With the right skills and determination, women entrepreneurs can succeed in franchising.