Fact: the majority of individuals who purchase a franchise are men. Also fact: women are quickly catching up to them. (Between 2011 and 2017, female franchise ownership jumped by 83 percent, while male ownership only increased 13 percent). The question is, what attracts women to this potentially lucrative form of business?
They know how to lead a team
Women work well in teams, which is important when it comes to franchising. Even if you’re the boss, you have to know how to motivate staff, make community connections and liaison with your franchisor. And the stereotype of the authoritative male supervisor notwithstanding, ladies know how to lead their teams just as efficiently.
They crave work-life balance
Studies show that women still take on the same amount (if not more) of housekeeping and childrearing tasks than they did decades ago. So who better than moms to crave work-life balance? Often, the best way to accomplish this is with a franchise.
They want to be part of something bigger
Once the initial day-to-day running of the franchise is off the ground, many franchisees find themselves with something of a community hub. If done correctly, your franchise can be a gathering place for those in your town or neighborhood. Often, women enjoy this aspect of their working life – doing what they love, while being part of something larger.