Females In Franchising: Women Franchisees Up By 20%
8th March is International Women’s Day, and as such we wanted to celebrate the females who have pioneered the way in franchising and helped shape the industry into the sector that it is today.
Until recently, the franchise business world was largely male-dominated. However, between 2015 and 2018, data shows that there has been an increasing trend of women joining the ranks, highlighting a more balanced community.
Today, females in franchising are up by 20%. In this article, we discuss the journey the industry has taken in striving towards equality.
Technology’s role in restoring balance
While Rainbow actively encourages equality in its hiring policy to bridge the industry disparity, the sector as a whole has what can be considered a hiring problem. It was highlighted within the NatWest and bfa franchising report that there were a variety of challenges facing franchisors at the recruitment stage, and the industry struggles to attract a diverse range of applicants as a result.
Franchisors typically struggle to hire because of a lack of capital. This has historically led them to look inwards for talent (at existing franchisees to open up further sites or units) as opposed to further afield, consequently perpetuating the issue of gender imbalance in the sector.
However, 40% of franchisors now claim that social media is their main method of recruitment. 10 years ago, this wasn’t even a registered source – franchisors were primarily receiving applications through their website or magazine advertisements. The move to social media demonstrates that businesses are now attempting to use methods that are native to younger and more diverse audiences.
Different channels equals diverse talent
With social media luring in a growing number of under-30s, the age group now makes up 18% of all franchisees – and statistics show that this figure is set to rise. What’s perhaps more remarkable though is that 52% of franchisees under the age of 30 are female – possibly predicting total equality in the industry for future generations.
In order to be a part of the solution ourselves, we’re active members of Encouraging Women Into Franchising which aims to support the development and inclusion of female professionals in this business model.
Additionally, Rainbow franchises don’t require a unit, meaning that our affordable route into franchising is a popular choice for younger prospective franchisees who are hoping to become a first-time franchise business owner. This is evident during our discovery days, where attendees represent both sexes.
Is the future female?
In the younger generations of franchisees, we are seeing waves of equal numbers of women and men that are passionate about addressing the gender imbalance that besets the sector. If you’re interested in joining a forward-thinking franchise, then speak to a member of our team today. Request a callback and make your mark on the future.