Trends in Franchising
The Entrepreneur’s Source on Encouraging Female Franchisees
When The Entrepreneur’s Source first opened its doors 30 years ago, it was rare to see women as part of an executive team, a business owner or a franchisee. Today, the makeup of the industry has changed. The Small Business Administration (SBA) reported that currently women are majority owners in 10 million American businesses, or 36 percent of all U.S. businesses.
What’s even more exciting for women in the U.S. is that this same report found that one out of every 10 women in the U.S. is an entrepreneur – the highest rate among 24 other developed countries compared to in the study. This should be great news and encouragement for women looking to start their own business or invest in a franchise.
The Promising Franchise Industry
For female entrepreneurs, the franchise industry is promising due to its sense of camaraderie and structure. As a whole, franchising is a very supportive and close-knit community, even more among the smaller community of women in franchising, and this is this is a large reason why many women entrepreneurs are interested in franchising. Franchising is full of women entrepreneurs looking to support others like themselves.
This supportive environment and openness is built into the structure of franchising. When an individual invests in a franchise, they are provided with a dense network of others in their specific franchise system as well as the greater franchise community – fostering mentorship among the industry. Like all businesses, opening a franchise may present its share of challenges, but first-time female franchisees have the ability to reach out to others in their franchise system for guidance and advice in opening and operating their business.
The Entrepreneur’s Source Encourages Women in Franchising
Similarly, many women are choosing to become alternative career coaches looking to assist women who want to move from Employment to Empowerment by becoming self-sufficient. When a female entrepreneur consults with an alternative career coach before entering the industry, she will have the ability to establish her Income, Lifestyle, Wealth and Equity™ (I.L.W.E.™) goals and receive career advice and guidance from coaches so that she isn’t alone in the decision process.
For more information about investing in a franchise, contact a coach at The Entrepreneur’s Source today.