More and more women are embracing the world of franchising. They may be considered a business minority for now, but the number of female business owners have grown significantly. Women have taken a big chunk in the pie for business ownership, about 32% in total. Last year alone, 42% of newly opened franchise businesses were female owned.
It would be worthwhile to mention a couple of brands women are well inclined to start up with.
Xpresso Delight machines brews high-end, café-quality drinks with environmentally friendly coffee pods allowing franchise owners to operate on a B2B model. The franchise will be paid by businesses and companies that host the vending machine. This is a semi-passive business model allowing the franchise owner to free up time and great should you choose to continue with your day job.
Naturals2Go owners sell healthy snacks through beautifully designed vending machines where this franchise operates in a business to consumer model. The franchise generates revenue when customers purchase products through the vending machine.
Mathnasium has a #1 rating by Franchise Business Review and with proprietary curriculum developed through 40 years in classroom testing and expertise to help children advance quickly in math. Their anti-one-size- fits-all approach made the system emerge as one of the fastest-growing educational franchises in the world.
EcoMaids – Green Cleaning Services franchise represents a fresh approach to the always-in- demand cleaning services space. EcoMaids utilize safe, all-natural, biodegradable cleaning solutions dispensed by reusable and recyclable equipment. This concept makes it very appealing to customers with young children or elderly parents to look after back home.
There are many more promising franchises to check and it would be best to check with us to help you find and choose the right franchise model based on your preference and ideals.
Why Franchise Models Appeal to Women
By leaving their corporate world and investing in business ownership, there are concerns such as will the product or service get a hold of in the market, and what are the risks associated in starting a business? This is true for women considering switching from employment to empowerment. A recent survey shows that women are capable and willing to take risks and they have better multi-tasking skills.
Considering those two things; risk-taking and multi-tasking, is greatly addressed by franchise models making it appeal to women more than ever. The two reasons making it appealing would be Openness with Collaboration, and Control with Flexibility as part of the world of franchising.
Openness with Collaboration is built into the world of franchise ownership. When investors enter the franchise industry, they are provided with support from other business owners that are in their franchise system. Franchisors and franchisees can turn to other franchisors and franchisees for advice or mentorship, providing women with the unique opportunity to start their business with access to a large network of experienced individuals who have been in the same boat previously. This helps eliminate risk and concerns of women if starting and managing a franchise business would be difficult.
Control with Flexibility allows women greater access to financial security and flexibility in their newly switched careers. As women strive to move from Employment to Empowerment this allows them to have a steadier stream of income without the fear of being laid off. Franchising follows a set system of procedures and operations, this enables franchisees to better structure their time, allowing them to spend more time with their friends and families while maintaining control of their business simultaneously.
Empowering Women in Franchise Industry
There are three types of franchise ownership we can refer to, and all of these business models are appealing to women. Giving them the chance for immediate career change is through the Owner/Operator model where one person is responsible for the day-to-day operations of the business. This is a good choice if you want to maintain total control over your investment and become immersed in the chosen business. Individuals who choose the Owner/Operator model also have the advantage for lower cost of staffing since they are the ones running and overseeing the operation management.
Not all women investors are readily leaving their corporate job or they are still raising their children and have a minimum amount of free time and therefore the Absentee and Semi Absentee Ownership models greatly appeal to women.
Executive Absentee’s time commitment is minimal in managing the business. Think of it as a passive investment with minimal involvement to none in day-to-day operation. This allows women franchisees to allocate their time with their corporate job, families and other interests.
Semi-Absentee is a model that blends aspects of both owner/operator and executive absentee model. The Great Clips franchise falls into this category. This model is ideal for those looking for additional income to diversify their current income and build equity while keeping a day job. The franchisee will hire a qualified manager to run the day to day operations and then they would manage the manager. The time allocated to run a semi absentee business varies from 10 to 20 hours per week.
These franchise models give the flexibility, control, and security that women look before switching careers.
Here are a couple of empowered women who dived into the world of franchising
Heidi Powell – Owner since July 2018 of NextHome in Freeport, Pennsylvania. As a real estate agent, she wanted to support her community in finding their next homes. She believes “It’s not about the houses, the land, the numbers – it’s about the human factor,” Heidi initially started her career with a different franchise, but quickly found that her morals clashed with the numbers-driven goals of corporate. When her agreement ended, her research led her to NextHome and in July 2018 she became the 300th business with the franchise.
Cheryl Glover – Owner of Wingstop in Maryland since 2013.
Cheryl Glover and husband Eddy were having a night on the town with their friends when the idea of franchise ownership first crossed their minds. “We knew it had to be something that we both loved,” she recalls. “It couldn’t just be an investment.” Cheryl and her husband are no strangers to business ownership. Prior to Wingstop, the pair started a computer consulting company. Eddy’s time primarily revolves around this business while Cheryl focuses on Wingstop. “With the other company, our employees already know their trajectory in life and know what they want to do,” says Cheryl. “I wanted to offer a job entry opportunity – a space for people to grow and learn job skills.”
The franchise industry is poised perfectly to embrace women as owners and we at the Franchise Consulting Company would love the opportunity to help you navigate through the process of deciding which one would best fit for you.