5 Reasons Why More Women Are Making the Choice to Start a Franchise in the US
For some women, starting a franchise is better than starting a business.
by: Jim Judy, GUEST WRITER, Consultant at Franchoice
Entrepreneur.com
While the franchise industry continues enjoying steady economic growth year over year, female franchise ownership is in the midst of an economic boom.
That’s according to a recent report from the International Franchise Association (IFA) indicating that women-owned businesses shot up by almost 50 percent since 2012. Women franchise owners made up 30.6 percent of the market by 2017, compared to just 20.5 percent only five years ago.
Female entrepreneurship has been on the rise for decades, just not at the rate of franchise ownership growth. In 2017, there were 11.6 million women-owned businesses, compared to 8.3 million in 2012, a growth rate of just 39.6 percent. Impressive, for sure, but not nearly as impressive as what’s happening with women and franchising.
While some women are making the choice to become franchisees for the same reasons that their male counterparts do, there are some aspects of franchising that address issues specific to aspiring female entrepreneurs. Though past trends are no guarantee of future outcomes, the industry has every reason to believe that more women will continue to see franchise business ownership as a prudent path to entrepreneurship.