The 4 Franchise Industries Women Dominate In
Why more women need to take advantage of the opportunities in franchising
According to the International Franchise Association (IFA) more than 25% of franchises in the world are operated by women and that doesn't include another 17% of franchises operated by both men and women as partners.
Morne Cronje, head of franchising at FNB Business says, "Women have the ability to use their time, energy and resources effectively to meet and achieve business goals. This trait, in my view, is the cornerstone for successful women in franchising. In a country like South Africa, the growing involvement of women in franchising is vital, considering that women make up the majority of our population."
Despite being a minority in the franchising sector, Cronje shares the 4 industries that women still dominate in.
1. Education – More women are attracted to this space because they are not only looking for profits but a community and economic impact.
2. Slimming salons - Women-led franchises in this space tend to specialise in weight loss products and services. Currently, there are good business opportunities in this component of the health sector as more people are becoming health conscious.
3. Accessory and Arts – Designing and selling jewelry such as brooches, rings, necklaces, earrings, and bracelets. More women are starting to become thought leaders in this business, setting trends and staying ahead of popular accessories.
3. Beauty Salons & Nail Bars – This is one of the industries pioneered by women, with its main focus being hairdressing, make-up, cosmetic treatments, manicures, pedicures and nail enhancements. Interestingly men are also increasingly making use of these services.
Cronje concludes, "Despite the limited awareness about the important role and great strides that women continue to make in franchising, it’s important for more women to consider exploring opportunities in this sector since it’s one of the most resilient.
The success rate of a franchise business is far better than a traditional start-up or small business. Consequently, franchising is one of the few industries in South Africa that are showing steady contribution to the economy and employment."