According to some reliable statistics provided by the National Women’s Business Council (NWBC) in 2012, females are making great inroads as small business owners. According to the NWBC report, there are approximately 9,878,397 women-owned businesses in the U.S., an increase of 2,086,282 businesses, or 26.8 percent, from 2007. Of non-farm and privately-held businesses, 36.3 percent are women-owned, in 2007, 28.8 percent were women-owned. And women-owned businesses generated $1.4 trillion in receipts. And according to the International Franchise Association (IFA), women own more than 20 percent of all current franchised businesses.
FranNet has seen similar upward trends in women in franchise ownership. In fact, since 2011, FranNet has seen a 71 percent increase in the number of women we’ve helped open a franchise.
There is a growing trend for franchise brands to target women as their next generation of business owners. Resources such as the U.S. Small Business Association (SBA), International Franchise Association’s (IFA) Women’s Franchise Network and the Association of Women Business Centers each have established programs specifically targeted to women owners which include seminars, workshops, mentoring and even funding assistance exercises.
While there aren’t any specific woman-based franchise concepts, popular franchise categories for women are definitely trending, including opportunities in health and wellness, nutrition, exercise and caregiving. Because franchisors know that women tend to seek opportunities with a better work-life balance, many have tailored their approach to certain semi-absentee or flexible-hours opportunities.
Aside from concepts which naturally appeal to women, some franchise brands have extended their programs to include extra incentives to attract even more female and minority entrepreneurs. Southland Corporation, owner of 7-Eleven and the parent group of several popular QSR concepts have created specialized funding assistance for minority and female prospects. Other governmental and state-level assistance beyond financing is available based on particular neighborhood zones of opportunity.
A quick check of FranNet’s easy-to-navigate guide to over 3,000 franchise concepts can be found here. We’re eager to help women establish themselves as business owners and franchise representatives. That’s why we’ve recently partnered with the SBA’s Women’s Business Centers, a nationwide organization with a little more than 100 educational centers throughout the United States—all dedicated to helping women achieve the goal of business ownership.
If you’re an aspiring female entrepreneur, we’d really like to meet you and guide your journey to success. Simply drop us a line and tell us your dream.
Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!