Does Franchising
Offer Women a Better Chance to Succeed
The secret is out, the next big thing in franchising is already here….female franchise owners. The numbers tell a story of rapid change. At FranNet, female franchise ownership jumped by 83 percent. Entrepreneur.com reported in a 2018 article that female business ownership jumped by 83 percent between 2011 and 2017. An obvious reason for the shift is a corporate world full of unfair pay gaps, improper workplace environments and an antiquated culture of penalizing women for stepping away from employment in order to raise their family. Franchising has become the answer for the budding and powerful female population.
24 The Franchise Woman
As an Entrepreneur? by Eric Schechterman
But why have these women opted for franchising vs. traditional business ownership? It is because the numbers show a higher chance for success. When Janine Allis, Boost Juice Founder and Shark Tank investor, spoke to SmartCompany she said, “There’s no question — you’re three times more likely to be successful with a franchise than you are going to be on your own.” Research over the years has indicated that the success rate for franchise-owned endeavors is significantly better than the rate for non-franchise-owned small businesses. According to 2019 census data and a study published in the
Journal of Economics & Management Strategy, the two-year success rate of a franchise is about eight percent higher than the independent success rate, and the one-year survival rate for a franchise is about 6.3 percent higher. I love data…I love statistics…I can spend all day finding article after article and study after study that have numbers showing that franchising increases your chances for success. That being said, it is not a perfect world, and I am sure one can find data that supports the other side of the argument. Rather than regurgitating numbers and studies, maybe the better question is WHY is there more success or less risk?
