Over the last decade, the business and franchising industry has seen a trend of more women taking opportunities in ownership and this is expected to further increase over the next five years. Many women are breaking away from corporate jobs or stagnant careers in male-dominated industries. These women are becoming entrepreneurs, pursuing a line of work that they feel passionate about.
According to the State of Women-Owned Businesses, 2016, there are an estimated 11.3 million women-owned businesses in the United States, which employ almost 9 million people and generate over $1.6 trillion in revenue each year. Women owned companies now comprise 38% of U.S. businesses. Between 2007 and 2016, the number of women-owned businesses increased by 45%. This is in comparison to the increase of all U.S. businesses at 9%, proving one thing: women are a force to be reckoned with.
Many of these women-owned businesses are franchises; women own more than 25% of operating franchises in the world, according to the international Franchise Association (IFA). That number doesn’t include another 17% of the population where men and women operate franchises together as partners.
In a survey with Franchise Business Review, 6,400 women franchisees expressed satisfaction with their mode of business ownership. 90% of the survey’s respondents said that they enjoy operating their business, with 74% saying they would “do it again knowing what they know today” about the franchising process.
The state of women in franchising today is largely on rise, thanks to shifting demographics, growing female independence, and franchisors’ desire for a stronger female presence in their company. From skills to personality traits, there are many reasons why women are set up for success in the world of franchising, including organizational, multi-tasking, and communication skills where women thrive. This is no exception at BirthdayPak, where 58% of all franchise owners are independently owned by women or a part of a husband and wife team.
“Owning my own franchise has given me the ability to be both a business woman and a mom, while allowing me to grow as an individual. I am my own boss, have unlimited earning potential, and without sacrificing, it allows me the flexibility to be there when my family calls.” – Kathy Fox, Owner of BirthdayPak Franchise of Nashville
“As a woman franchise owner, I love the ability to take ownership and pride in my business, while loving what I do. Helping women in my communities celebrate their birthdays while helping local businesses grow is a fun and rewarding experience.” – Jennifer Bradley, Owner of BirthdayPak Franchise of Dallas/Ft. Worth
If you know a woman with a sales background and entrepreneurial spirit who is looking for a new business opportunity, she could be the next BirthdayPak franchisee! BirthdayPak has markets available throughout the United States. To learn more about this exciting business, click here.