The rise of women in franchising
Despite the persistent call for women to be given top leadership positions, in 2018 only 23.7% of Chief Executives and Senior Officials in the UK were female. However, one area in which this disparity is decreasing is the franchising industry, as experts report a rising trend in the number of female business owners. In honour of International Women’s Day, we wanted to celebrate this growing number by highlighting why we are seeing such an increase, while also honouring the organisations that help aim to help and support these women.
A significant increase
In the UK, 30% of all franchisees are women; a figure which has steadily increased over the last 25 years. Of all new franchisees under the age of 30, 52% are female, showing that it’s becoming a popular career path for the younger generation too. So, what is it about the world of franchising that appeals to so many women?
The appeal factor
It’s often said that franchising offers the solution for women who want to build a successful career while still being able to deal with family life and other commitments. With so many women still underrepresented at every level across a range of industries, many find themselves turning to franchising as it allows them to have much more control over their career success. Women generally have strong communication skills too, which makes them good at networking and working collaboratively, therefore many are also highly likely to be drawn to franchising as it allows them to work for themselves while still being part of a wider team.
Due to the unique skills that women bring to business, franchisors are becoming increasingly aware of the necessity for female franchisees. Consequently, many support networks have been established to give the women the encouragement and knowledge that they need to venture into franchising. Encouraging Women into Franchising (EWIF) is a non-profit support network which Platinum Wave is a member of. EWIF’s mission is to educate, inspire and empower women considering or involved in franchising through a network of Ambassadors. One of their core missions is also to help franchisors attract more women into their network. Another key organisation is the IFA’s Women’s Franchise Network, who aim to promote women’s participation in franchising by providing international networking opportunities.
The future of female’s in franchising
While the franchising industry is enjoying steady economic growth, the number of women venturing into the industry is experiencing an economic boom. With a wealth of different sectors available and many appealing reasons to join, it looks like this trend shows no sign of slowing down.
So, are you a woman who’s looking to start your own business? Franchising may well be the perfect place to start. Not only do franchises have a higher success rate than most start-ups, they can also provide you with the flexible freedom to balance your career and your family. With many organisations available to give advice and networking opportunities, you can begin your franchising journey safe in the knowledge that you’ll always be supported.
If you would like some more information, please get in touch with Franchise Moves today.