Women in Franchising Drive Industry Sector Growth
Following the latest influx of news surrounding the recent boost of female franchise ownership, it's no surprise to learn that the franchise industry is in the midst of a women in franchising economic boom (Judy, 2018)!
The latest annual Natwest and BFA report, highlights that; "there are now nearly 50,000 franchise businesses collectively contributing over £17bn and 710,000 jobs to the country’s economy". In the last two years 37% of all new franchisees are women (NatWest Business Hub, 2019). In comparison, five years ago women franchise owners made up just 20.5 percent, according to the IFA report back in 2012.
What is driving the surge in female entrepreneurship? Many reports quote the flexibility and variety of franchising as a key indicator to the growth amongst this demographic, whilst other key contributing factors include the advancements in social acceptance and cultural changes, as well as franchise support systems and help securing loans. Nevertheless, women in business (and franchising) is forecast to continue to grow, and the UK's biggest franchise show is providing the platform and support to help boost the rise of women in franchising across the UK and beyond.
The International Franchise Show returns on April 3rd and 4th, 2020, and we've already secured a strong line-up of female business supporters including Women in Business Expo, Women's Business Club, and many more on the horizon. We are continually striving to exceed expectations; growing the event year on year. If you're interested in getting involved drop me a message to explore options!
Sources:
Judy, J. (2019). 5 Reasons Why More Women Are Making the Choice to Become Franchisees. [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/313698 [Accessed 29 Jul. 2019].
NatWest Business Hub. (2019). Women and millennials help drive franchise sector to record levels. [online] Available at: https://www.natwestbusinesshub.com/content/women-and-millennials-help-drive-franchise-sector-to-record-levels [Accessed 29 Jul. 2019].