In the past decade or so, there has been a significant rise in the number of women who own a business – in the USA, more than 11.6m firms are currently owned by women and 39% of privately-owned businesses are now female owned. In the world of franchising, a recent report shows that there is a rising trend for women in franchising.
In the UK, women now account for around 25% of all franchisees and similar shift is being seen internationally. In 2007, women owned 20.5% of franchise businesses in 2007 – this number had grown to 27% by 2017 and these figures do not include the number of franchises that are operated by women and men. Between the years 2011 and 2017, the number of female owned franchises rose by 83%, compared with an increase of only 13% in male owned businesses.
So why are the numbers of women interested in franchises rising so much?
There are a number of reasons why many women are attracted to and successful in franchise businesses. It could be argued that many women possess the specific personality traits that are well suited to running a franchise business. For example, research suggests that female business owners are often more financially cautious, so buying into an already established business is attractive.
It could also be argued that many women posses the strong communication skills that are essential for operating a franchise business – women are good at networking and collaborating. As a result, female business owners are generally good at engaging with their target market and growing their business, as well as working as part of an established franchise network.
Many people are seeking more flexible careers as opposed to a more traditional 9-5 position. Women and men with families are attracted to the idea of working for themselves whilst being able to balance their career with a healthy family life or other commitments. Franchisees can set their own hours to fit around their commitments, whilst also benefiting from support from a franchise’s head office.
More and more business sectors are entering the world of franchises, so it could be argued that more businesses that are more attractive to women can now be ran as a franchise. Domestic based businesses such as cleaning service franchises are booming as more and more people are choosing to hire cleaners and domestic help to achieve a more balanced work/home life. As a result, there is more opportunity for people to operate domestic cleaning franchise businesses.
It could certainly be argued that there is plenty of opportunity for women to take on franchises and that the nature of franchising can lend itself well to the way that many women like to work and run a business.
If you are interested in the idea of running a domestic cleaning franchise business, call Domestique today on 0845 625 9895 or 0121 369 0999.