|
|
 |
Franchise Prospector » Franchise Trends
Ladies Doing It for Themselves: Current Trends in Franchising for Women
Women interested in franchising are finding new and unique opportunities in the educational and personal services industries.
More and more successful women are learning about the benefits of owning their own franchised businesses. Catalyst, a non-profit research firm devoted to advancing women's careers in business, reports that women choose to strike out on their own for a mix of reasons. Around 51% of the 650 women surveyed reported that their previous jobs did not offer them enough scheduling flexibility. Another 29% cited the difficulty in advancing to higher positions, 28% were displeased with their work environment at their old jobs, and 22% felt that their old positions did not present enough of a challenge.
Many women who want to start their own businesses choose franchises rather than entirely new business concepts. Brand new businesses have much higher failure rates than established ones. By investing in franchises, women are maximizing the chances of success for their new businesses. Good franchises offer extensive training programs to new franchisees, as well as continued support for any questions or concerns that might arise during the day-to-day operations of the business.
Lower Start-Up Costs, Big Rewards
Women tend to seek out franchises that offer lower initial investments. That way, they can avoid draining their bank accounts by investing only as much money as they can afford to lose. Fast food franchises are popular for many franchisees, but they are not the best choice for someone looking for a small initial investment. Industries such as personal services, which includes salons and senior care, and education-related businesses such as tutoring centers tend to offer lower initial investment fees than fast food or restaurant franchises.
Educational Services Franchise Opportunities
According to Entrepreneur Magazine, franchises in educational services and learning are a big trend for 2007. Educational services is a growing, $21.7 billion industry. Possible franchising opportunities in educational services include tutoring and test preparation services, testing centers, language centers, and enrichment programs. Recent "No Child Left Behind" legislation has benefited the educational services sector by directing some government funds to private tutoring companies to provide help for underachieving students. Educational services franchises are popular choices for teachers who decide that the time is right to begin their own businesses, or for any woman who is passionate about education.
Many Choices in Personal Services
"Personal services" encompasses a wide range of franchises that includes senior care, spas and salons, and fitness centers.
- Senior care franchises continue to do big business as baby boomers age and seek out quality at-home care.
- Franchise spas and salons are catering to more and more specific niche markets. Today, franchises are available for laser hair removal centers, tanning salons, skincare, and massage therapy.
- Fitness center franchises are also starting to specialize. There are now gyms geared toward specific clients, including women, teens, children, and senior citizens. Other fitness centers focus on niche activities such as Pilates or dance or offer special benefits such as 24-hour access or personal training sessions.
Franchisees are discovering that the personal services industry is such a large one that narrowing their client base by offering more specialized services can actually increase their profits.
Women Franchisees Profit from Their Social Skills
One of the greatest gifts that women bring with them to the business world is the ease with which they can interact with people. Women tend to excel at reading overt and hidden conversational cues. They know how to build relationships with their customers so that the customers know how much they are appreciated. For this reason, many of the most popular franchising choices for women are in customer service oriented fields, such as educational services and niche personal services. Women who feel that their talents are not being appreciated at their current jobs can find great success and personal autonomy as franchise owners.
For More Information
|
|
|
