Franchising the Future: How Women Are Finding New Opportunities Through Entrepreneurship

Women have progressed by leaps and bounds in traditional professional spaces over the last few decades, but there are still major disparities. For many women looking to find opportunities for leadership, professional development and a sense of empowerment in their work, franchising is an attractive option. Here’s why.

Women Continue To Fall Behind in Both Title and Pay in Professional Spaces

According to McKinsey’s 2023 Women in the Workplace report, a survey of 276 participating organizations revealed 48% of women occupy entry-level positions while just 28% are in the C-suite. For men, these statistics are 52% and 72%, respectively. 

Opportunities to be promoted or hired into leadership positions are not equitably distributed, and this manifests both in title and pay. According to Equal Pay Today, an organization that works to eradicate the gender wage gap, fair pay remains an issue, too. Equal Pay Days, which serve to illustrate just how much progress is left to be made, continue to reveal troubling pay inequities. 

For example, women in general would need to work through March 12, 2024, to make as much money as their white, non-Hispanic male counterparts would have made in 2023. Equal Pay Day for Black women is July 9th, based on the fact that they earn 66 cents for every dollar their male counterparts do. Moms’ Equal Pay Day is August 7th, and Native and Indigenous Women’s Equal Pay Day is November 21st.

These inequities are driven by both overt and subconscious perceptions of women. Rather than focusing on women’s skills and professional achievements, some leadership teams worry about whether a woman is strong-willed enough to lead a team or if she will be able to balance motherhood and her career.

In franchising, where women can be their own bosses, none of that matters.

“The franchising world, for a long time, was a male-dominated field,” said Sonal Patel, a franchise owner with Woodhouse Spas. “It has definitely moved forward in the last 15 years. As long as you have a franchise that has a good support system and is really nicely structured, the leg work has already been done for you. Follow the steps that they have set and I strongly believe that you can be successful.”

Franchising Is Widely Recognized as a Pathway to Empowerment and Professional Freedom for Women

Many entrepreneurs turn to franchising as a way to take control of their futures and enter a realm where they can directly benefit from the financial gains and professional opportunities that come as a result of their hard work. 

“Franchising has afforded me a lot more flexibility to spend time with my kids because I can pretty much make my own hours,” Patel said. “I still work, but I work around my time. The other thing I can tell you is that my kids learn a lot. It’s amazing how much my kids learn when they visit [the business].”

These motivations are shared by many women in the franchising space, and women continue to serve as some of the most impactful leaders and entrepreneurs in the space, creating opportunities for both themselves and others.

“My daughter is a lot like me; she loves beauty, skincare, health and wellness,” Patel added. “She helped me a lot when she was on vacation from college, and she’s learned a lot being behind the scenes. She got [business] exposure that, otherwise, she would not have been able to get.”

Patel is one of the many women serving as role models for other young entrepreneurs, demonstrating just how much is possible with dedication and a commitment to the system.

Franchising the Future

According to fundera, there are 12.3 million women-owned businesses in the U.S. Though women often receive smaller business loans than their male counterparts, they continue to demonstrate high performance. Sixty-two percent of women cite their business as their primary source of income, and female entrepreneurs create millions of jobs through their businesses. 

Franchisors and other authorities in the franchise space, like lenders, have taken note of women’s success in small business, and they have developed programs to make the opportunity even more accessible.

Many franchisors offer incentives for women looking to start a business, decreasing the financial barrier to entry and welcoming these entrepreneurs with open arms. Leveraging skills that are generally associated with women, like the ability to promote loyalty, build strong relationships, problem solve and juggle multiple demands at once, female entrepreneurs can excel in the franchise space.

“Believe in yourself. Even when you think that you cannot do something,” Patel said. “Do your research and make sure you know what you’re getting into. Know your franchise and know you’re asking the right questions, then once you get in, lean on the franchisor. Take advantage of everything that they’re offering you, and I’m sure you will be successful.”

In franchising, your business is what you make it, offering a refreshing change of pace for women who feel that their hard work has not been proportionately rewarded in past professional environments. 

Learn more about women in franchising and read the stories of top industry leaders:

• Celebrating 2024’s Most Awesome Women in Franchising
• Two Generations of Women Join Forces and Find Success in Business Ownership with Seniors Helping Seniors
• Dog Training Elite* Taps Veteran, Former Exxon Executive as New CEO
• Top 10 Female-Led Franchise Brands
• What is the Women’s Franchise Committee, and Why is it Important?
• Bartender to Owner: How One Shuckin’ Shack Franchise Owner Grew with the Brand for 15 Years
• Podcasts: Empowering and Educating Female Entrepreneurs Everywhere
• Shattering the Glass Ceiling: Women in Franchising