Franchising offers an opportunity to break the constraints of the traditional professional world and empower women who want to start something of their own.
While women have made great strides in traditional professional fields over the past few decades, significant gaps remain. For many women looking for opportunities for leadership, professional development and empowerment at work, franchising is an attractive option. Here’s why:
Women continue to lag behind in professional fields in terms of both titles and salaries
according to McKinsey’s 2023 Women in the Workplace ReportThe survey of 276 participating organizations revealed that 48% of women hold entry-level roles, while only 28% hold C-suite levels. For men, these statistics are 52% and 72%, respectively.
Opportunities for promotion and recruitment into leadership positions are not distributed equally, and this is reflected in both job titles and salaries. Equal Pay TodayFair pay also remains an issue, according to groups that work to close the gender pay gap. Equal Pay Day shows how much progress remains to be made and highlights the still-severe wage disparities.
For example, women would generally have to work until March 12, 2024 to earn the same amount as non-Hispanic white men did in 2023. Equal Pay Day for Black women is July 9, based on the fact that Black women earn 66 cents for every dollar men make. Equal Pay Day for Mothers is August 7, and Equal Pay Day for Indigenous Women is November 21.
These inequalities are driven by both overt and subconscious perceptions of women. Instead of focusing on women’s skills and professional achievements, some leadership teams worry about whether women are strong-willed enough to lead a team, or whether they can balance their careers with their role as mothers.
In a franchise where women can be their own bosses, that’s not an issue.
“The franchise industry has long been a male-dominated field,” Sonal PatelFranchise Owner Woodhouse Spa“There’s definitely been progress over the last 15 years. If you’re a franchise that has a great support system and is very well-structured, the groundwork has already been done. If you follow the steps they’ve set out, I’m confident you’ll be successful.”
Franchising is widely seen as a pathway to female empowerment and professional freedom
Many entrepreneurs turn to franchising as a way to take control of their future and enter a field where they can benefit directly from the financial gains and professional opportunities that come as a result of their hard work.
“The franchise gives me a lot of flexibility in terms of the time I can spend with my kids because I get to decide my own hours,” Patel says. “I’m still working, but I work on my own hours. Another thing is that my kids are learning a lot. It’s amazing how much they learn when they come over to play. [the business]. “
These motivations are shared by many women in the franchise industry, who continue to serve as some of the industry’s most influential leaders and entrepreneurs, creating opportunities for both themselves and others.
“My daughter is a lot like me – she loves beauty, skincare, health and wellness,” Patel added. “She’s helped me a lot when she was on break from college and she’s learned a lot behind the scenes. [business] Otherwise, she would not have gotten that exposure.”
Patel is one of many women who act as a role model for other young entrepreneurs, demonstrating how much is possible with dedication and commitment to the system.
The Future of Franchising
according to FandoraThere are 12.3 million women-owned businesses in the U.S. Although women are more likely to receive small business loans than men, they continue to perform well. 62% of women rely on their businesses as their primary source of income, and women entrepreneurs create millions of jobs through their businesses.
Franchisors and other authorities in the franchise industry, such as lending institutions, have taken note of women’s success in small businesses and developed programs to make opportunities more accessible.
Many franchisors offer incentives to women who want to start their own businesses, lowering the financial barriers to entry and extending a warm welcome to these entrepreneurs. Women entrepreneurs can thrive in the franchise industry by leveraging skills typically associated with women, such as the ability to inspire loyalty, build strong relationships, problem-solving skills and the ability to juggle multiple demands at once.
“Believe in yourself, even when you think you can’t do something,” Patel says, “do your research and make sure you understand what you’re getting yourself into. Know your franchise and know you’re asking the right questions. And once you’re in, rely on your franchisor. Take advantage of everything they have to offer, and I’m sure you’ll be successful.”
Franchising allows you to create your own business, providing a refreshing change of pace for women who feel their hard work has not been properly rewarded in their previous work environment.
Learn more about women in franchising and read stories from some of the industry’s top leaders.
*This brand is a paid partner of the 1851 Franchise. For more information about paid partnerships, please see click here.
