fe at ure : WO M EN I N FR A NCH ISI NG
Expert Advice: Rick Bisio | Franchise Coach | FranChoice
OPPORTUNITIES ABOUND FOR WOMEN IN FRANCHISHING A century ago, the concept of women-owned business was a novel idea. Although it took many years to get to this point, womanowned franchises are common in 2021.
I estimate that just about half the people I work with as a franchise coach are women. For a woman who wants to become a business owner, franchising provides a great ownership opportunity. The number of women-owned businesses
Franchising USA
has grown significantly over the last few decades. In 1972, women-owned companies represented just 4.6 percent of all businesses. Today, that number has skyrocketed to 42 percent, according to a 2019 report by American Express. The same report indicated 1,817 new womenowned businesses were created every day in 2019. As I work with a nearly even number of male and female franchise candidates, I have noticed some different philosophies in how men and women approach ownership opportunities. In my experience, I have found that men look for situations in which
they can dominate a market and build an empire by owning multiple franchises.
Women tend to be more pragmatic in their approach when they start. They look for
something that is a good fit and meets their goals and objectives.
I’ve personally seen situations where
the women-owned business has been so large and profitable that their husbands
have quit their jobs and worked for their
wife’s franchise business. Women often
take a level-headed approach to entering franchise ownership and build strong businesses.
