Women are investing in franchises at a growing rate. Is there a perfect franchise for women? Here’s what to look for in a great opportunity.
The Impact of Women in Franchising
Over the past decade, women have been increasingly drawn to franchising for a multitude of reasons, not least of which is the ability to be their own boss, retire from the corporate rat race, and make an impact in sectors they find both professionally and personally fulfilling.
Today, 29% of all franchises are solely women-owned, and 32% of franchises opened in the last two years are led by women. Beyond those numbers, female franchisees tend to report higher satisfaction and rate their franchise company higher than their male counterparts, particularly in areas of leadership and senior management. The numbers suggest that the right franchise for women is simply one that aligns with a woman’s individual values.
Even as the pandemic may have slowed the rate of business startups in some markets, women’s naturally adaptive and problem-solving abilities have them on course to take on even more ownership roles in the years ahead.
Women account for 31% of all small business or franchise owners across the United States, and 62% of them cite their businesses as their primary source of income. Women-owned businesses generate $1.8 trillion in revenue annually.
As the percentage of female business owners continues to grow, franchisors are taking notice of their massive economic impact and directing more of their recruitment efforts toward attracting women.
Choosing The Right Franchise For Women
Women become franchise owners for a variety of reasons, but one study finds that 29% attribute it to their desire to be their own boss. Behind that, 20% cited wanting to pursue their passion.
Franchising gives female entrepreneurs the opportunity to balance a thriving career with a fulfilling personal life. The right franchise allows women to apply their skills and passions while connecting meaningfully with their community and attaining professional and personal success.
One of the top industries that women are interested in pursuing is personal services, a broad term that includes any company that provides goods or services that assist people and enrich their lives. Women are uniquely qualified to succeed in an industry that puts their leadership and communication skills at the forefront.
As in other sectors, women have spurred growth in the personal care market. Possessing a range of characteristics strongly suited to hospitality, operational and management roles, franchisors are taking notice.
The world of franchising continues to open up to women and offer a variety of opportunities to choose from that best suit their goals. Franchisors are seeking out women entrepreneurs and tailor-fitting leadership roles for them as it becomes increasingly clear that other businesses and clients are motivated to work with female business owners.
Uni K Wax Delivers For Women
Founded and vastly run by women, Uni K Wax is a beauty franchise that understands what women want from both a consumer and business owner point of view. Noemi Grupenmager founded Uni K Wax in 1993 with the goal of creating an natural waxing salon that would welcome all genders and provide a range of services to suit all needs and benefit all business partners. Uni K Wax tends to its customers and franchisees alike by providing a world-class waxing experience and unparalleled franchisee support.
As a leader in the waxing industry, Uni K Wax gives women franchise owners the opportunity to combine their passion for entrepreneurship with their desire to improve the quality of life for others. Uni K Wax provides a sense of security with comprehensive training, a strong franchisee network, and a breadth of support to help you run your business successfully for years to come. Uni K wants franchisees to take pride in their work and feel like they are making a meaningful impact on the lives of others.
Request more information to learn why Uni K Wax is the perfect franchise for women entrepreneurs.