The franchise industry is booming and around 30% of the UK’s 40,000 franchises are owned by women compared to just 20% five years ago (Which Franchise). Yet, 44% of franchisees within the Kare Plus network are women – a sharp increase on the national average. So, what is causing this rise in female entrepreneurship?
It is pretty clear that women are joining the franchise industry for the same reasons as men – joining a proven business model, having the freedom of owning your own business and being surrounded by a strong support network to name a few. However, there are specific traits that make women great entrepreneurs. For example, women are great communicators and networkers meaning they can build long-term relationships with clients and improve customer satisfaction which are key skills in growing a business.
What can a franchise offer women?
A franchise model can be appealing to women for a number of reasons. Owning a franchise can allow business owners to structure their time with more flexibility than another type of job which can lead to a better work-life balance.
There is also an added benefit of financial security in a franchise model which isn’t always as achievable in other workplaces. Some people believe that it is harder for women to obtain funding from the bank, however this is not the case. Banks are more likely to lend you money to open a franchise than a start-up company because you are entering into a business model that has a history of being successful.
Advice for women looking to get into franchising
If you want to start your own business, franchising is a great place to start. There are a variety of resources available online to help you research what industry to go into. You also don’t need to worry if you don’t have any industry experience as many franchisors including Kare Plus will provide ongoing training and support.
Encouraging Women into Franchising (EWIF) is an organisation that supports women who are looking for a route into franchising. They provide free services such a telephone support and mentoring.
If you’re looking to join the Kare Plus franchise network, we can put you in touch with the many female franchise owners. You’ll be able to learn about their experiences first hand and they’ll be able to give you valuable advice about how to start your own franchise.
For more information about what franchises we have available, please get in touch with our friendly team on 01952 783 338 or email franchising@kareplus.co.uk
