Estimated reading time: 3 min.
More and more women are joining the franchise industry. In a guest article EWIF's MD, Helen Mansfield, shares her thoughts below on why the combination of women and franchising is a perfect storm for the future success of franchising.
A presentation by one of the UK’s top-most accountancy firms recently came to light, telling women how to fix themselves to fit into a male workplace. I still find it surprising when ideas like this remain prevalent in the modern business arena. It is clear, as women, we possess our own skills and talents which lead to professional success. No ‘fixing’ is required.
Recent reports indicate female-led businesses contribute, significantly:
- According to the Federation of Small Business, women-owned businesses contributed £105bn GVA to the UK economy, in 2018. A 40% increase since 2012[1].
- Research by the charity Founders4Schools showed women-led businesses contributed a sensational £27.3bn in turnover to the UK economy in 2018[2].
- The same report also found in 2018:
- 44% of women-led businesses grew at a rate of 20%
- 21% grew at an incredible rate of more than 50%
- The 2019 Rose Report demonstrated how up to £250 billion of GVA could be added to the UK economy if women started and scaled new businesses at the same rate as men[3].
When it comes to women in employment who pause their career to have children, researchers found:
- Only 27.8% are in full-time work or self-employed three years after childbirth, compared to 90 per cent of new fathers[4]
- 26% of men were promoted or moved to a better job five years following childbirth, compared to just 13% of women
Findings like these, suggest women continue to suffer economically, often becoming ‘stuck’ at work, even in the 21st century.
However, within the franchise industry, we have seen a record increase in the number of women starting their own business. According to the 2018 bfa NatWest Franchise Survey, 37% new franchisees were female. Perhaps this is because, as research by Bristol/Essex Universities found, 54% women who left secure employment, did so for a better work-life balance.
So, as a business owner, why should you make serious steps to recruit female franchisees into your networks (if you aren’t already)? We put this question to our members, who offer the following reasons:
- “Women are fabulous at wearing many hats and juggling balls: skills which are very much needed to run your own business. In our experience at Little Voices, women love working with others, and being part of a network. They may be afraid to take risks, but franchising provides them with the support to take a calculated risk.” – Jane Maudsley, Little Voices
- “At InXpress, we know the importance of having a balanced network. Although the shipping industry in which we operate is traditional ‘male’, we have a number of successful female franchisees. We believe encouraging more women to the network will help to ensure the balance continues, in a positive way. Franchising offers a great fit for women, especially when it comes to flexibility and supported opportunities.” – Mel Spencer, InXpress
- “We support our franchisees to drive their business growth, by building positive working relationships, showing strong levels of empathy for our vulnerable clients, and demonstrating excellent team-building skills. At 30% our female franchisee representation is too low for our liking, We will continue to actively target women as we know they are fantastic franchisees, and we want to help break down the barriers that can prevent them becoming their own boss.” – Kate Dilworth, Right at Home
- “As the African proverb says “If you educate a man you educate an individual, but if you educate a woman you educate a family (nation).”... Women bring a wealth of talent, insight, drive and care into business and are great problem solvers too!” – Sarah Cressall, Creation Station
- “Women have inbuilt leadership qualities which are apparent when home making and raising a family therefore these natural skills can transfer remarkably well for running a business or franchise.” – Claire O'Connor, babyballet
Find out more about EWIF here, and how to add your voice to the community of women in franchising.
[1] https://www.fsb.org.uk/docs/default-source/fsb-org-uk/women-in-enterprise-report-v03.pdf?sfvrsn=0
[2] https://www.founders4schools.org.uk/insights/women/
[3] https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/784324/RoseReview_Digital_FINAL.PDF
[4] https://gender.bitc.org.uk/system/files/research/project_28-40_the_report.pdf