WOMEN OF FRANCHISING
Breaking Barriers: Women Shaping the Future of Franchising by Seth Lederman, Consultant, The Franchise Consulting Company
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s the business landscape continues to evolve, women are carving out their space and leaving an indelible mark in various industries. In the dynamic world of franchising, women entrepreneurs are breaking barriers and reshaping the narrative. Since the U.S. Census Bureau began tracking female entrepreneurship in 1972, the number of women-owned businesses has grown from around 400,000 to 13 million. In terms of franchising in particular, women currently outnumber men when it
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comes to seeking information about franchise ownership. In fact, between 2016 and 2021, the overall percentage of women franchise owners rose each year. What is it about franchising that is so appealing to females? THE RISE OF WOMEN IN FRANCHISING Traditionally, franchising has been perceived as a maledominated arena. However, a wave of women entrepreneurs have been making significant strides in recent years, establishing successful franchises and challenging
MARCH 2024 | WWW.FRANCHISEJOURNAL.COM
preconceived notions. This shift reflects the changing dynamics of entrepreneurship and the increasing recognition of women’s leadership capabilities. While women in franchising have made remarkable progress, they still face unique challenges. Overcoming stereotypes, access to funding, and balancing family responsibilities are hurdles that women entrepreneurs often navigate. Despite these challenges, many women have triumphed, demonstrating resilience, creativity, and a keen business acumen. Women often bring a unique perspective and approach to franchising. Their emphasis on collaboration, communication, and community engagement sets them apart. This inclusive approach resonates well with the diverse customer base franchises cater to, fostering strong connections and brand loyalty. Skills that can contribute to success in franchising for women (or men) include: • Communication Skills: Effective communication is crucial in franchising, whether it’s with franchisees, customers, or stakeholders. People who