E-Source Says
Revolutionizing Women in Business for over 20 years
To mark International Women’s Day, The Entrepreneur’s Source® is applauding all of the women turning to entrepreneurship to discover financial freedom and flexibility.
Recognizing the value of females in leadership roles, TES founded Women Empowered by Business™ with Lori Tyll and Judy Stoleson more than 20 years ago to help female business owners succeed. WEBB facilitates opportunities and provides resources designed to educate, empower, and enlighten women as they pursue business ownership.
TES, the nation’s leading career coaching franchise, helps women and men who are at a crossroads in their careers. TES provides an education-based approach to help people determine their Income, Lifestyle, Wealth, and Equity™ goals. A Career Ownership Coach™ helps individuals discover whether they want to take a new job in the corporate world, start a business from scratch, or invest in a franchise.
Heidi Simos, a TES coach from Florida, promoted female entrepreneurship and education by hosting a virtual panel on March 11 as part of National Women’s History Month. “Women + Franchise = A Winning Combination,” showcased the stories of female leaders from the U.S. Small Business Administration, SCORE, Benetrends Financial, and TES. SCORE is one of the largest networks of free small-business mentors.
Empowered Female Business Owners
The number of women running businesses is climbing. According to the latest data from the U.S. Census Bureau, 20.9% of businesses, or 1.2 million, were owned by women in 2019. The data was collected from 300,000 employer businesses to determine the latest results. Other studies reveal the number of female-owned businesses may be much higher. Relying on extrapolated data and gross domestic product estimates, an American Express report from 2019 revealed female entrepreneurs accounted for 42% of all businesses, up from just 4.6% in 1972.
Women are pursuing entrepreneurship to take charge of their careers and achieve the American dream. Females are natural-born leaders and have the innate ability to build strong relationships and develop employees. Research by Boston Consulting Group reveals that if women and men participated equally as entrepreneurs, the global economy could rise up to $5 trillion.
Franchising Puts Women in the Driver’s Seat
Franchising plays a prominent role in the number of women achieving the American dream. There are at least 753,770 franchises in the United States, and women own or co-own approximately 265,000 locations. Pursuing entrepreneurship through franchising offers women a proven business model with brand recognition, training, and support. The franchisor provides a set of procedures a business owner can follow to achieve self-sufficiency.
“Transferable skills are very important for franchising. Women are good at organizing and prioritizing, and they have an eye for detail. Women also have effective interpersonal skills. Many women run the household, and in order to run the household, those are the skills you need,” Simos said.
Female business ownership took a hit in 2020 as the pandemic forced many women to put their dreams on hold to help their children when schools were shuttered. As the pandemic wanes, the number of female franchisees is trending up. At least 32% of all franchises opened in the past 24 months were owned by women, according to a survey of 8,453 female franchisees conducted by Franchise Business Review.
Sarah Johns, a franchise owner of Patrice & Associates, turned to entrepreneurship to balance her career aspirations and family commitments. During the early stages of the pandemic, Johns was overwhelmed with her childcare responsibilities and employer demands. Working with a TES career coach helped her discover her Career 2.0®.
“I needed to have more control of my schedule, life, and family,” Johns said. “My main goal was to find something that allowed me to work from anywhere, on my own terms and schedule.”
International Women’s Day 2022
TES is delighted to celebrate the accomplishments of female entrepreneurs to highlight International Women’s Day in 2022. International Women’s Day is held annually in March and was officially launched by the United Nations in 1975 to celebrate the accomplishments of women across the globe.
Talk to a TES Coach
If you are striving to find work-life balance and flexibility, take time to chat with one of our career ownership coaches to discover your Career 2.0®. For more information about TES, visit www.entrepreneursource.com, or check out our guide book, “Your Career 2.0® A Survival Guide for the Battered Career and Investor Syndrome®.”