FBR Issue 3 - 2019

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FBR SPECIAL REPORT METHODOLOGY 266 BRANDS 8,880 FEMALE FRANCHISEES 33 BENCHMARK QUESTIONS INSIGHTS FROM FBR’S 2019 Research on Women Franchisees FLEXIBILITY There is just a 6% GAP between men and women when asked about the flexibility of their work schedule. Report that their schedule is “flexible” or “very flexible”: 72% WOMEN 68% MEN 88% 84% 75% 72% enjoy operating their business respect their franchisor would recommend their franchise brand to others would “do it again” knowing what they know today HOURS The median weekly hours worked for both genders is 40-50 HOURS 43: Average hours worked by WOMEN 48: Average hours worked by MEN FINANCIAL EXPECTATIONS While men and women are closely aligned on financial expectations being met, there is a significant gap in income. Report their financial expectations are being met: 64% of WOMEN 63% of MEN “The beauty of starting a franchise is that there is no glass ceiling to break through because you are your own boss – it is very empowering.” Catherine Monson, CEO, FASTSIGNS INCOME Women earn significantly less than men, but nearly 1 in 5 women indicate they work part-time. Report they work fewer than 30 hours per week: 17% of WOMEN 12% of MEN INDUSTRY Mean pre-tax income: female: $69,000 male: $98,000 More women tend to choose franchises in sectors with a lower average pre-tax income. The most popular industries for women are: Travel & Hospitality | Child Services | Advertising & Sales Source: Franchise Business Review, as of June 2019 8 | For more information on the companies in this report, visit www.FranchiseBusinessReview.com
FBR SPECIAL REPORT offers flexible work hours and a way to escape the 9-to-5 grind. Many of our travel advisors get to make their own schedules and be there to support aging parents, care for family members and enjoy time with their kids while others are able to supplement a retirement income giving them the ability to travel to bucket list destinations.” Over at MaidPro, flexibility is also a key benefit of franchise ownership. Spitzer, who is a single mother of two teenagers and one college student says she is fortunate to have great staff so she can work from home when needed, travel, and have a lot of flexibility, Another perk of franchising is the support offered from the franchise brand and from fellow franchisees. This support coupled with a proven business system and established brand gives franchisees a strong foundation to build both a business and a life. “Wild Birds Unlimited has been a wonderful opportunity for 23 years,” said Ellen Davis a Wild Birds Unlimited franchisee in Franklin, Massachusetts. “This franchise has allowed me a great lifestyle to raise two children and become a great business person. I am respected in my community by all my customers and my fellow franchisees. Working within the franchise gives you the extra support you need to become a leader in your field and your community.” Thanks to the hundreds of opportunities across nearly every industry, there are franchises available at almost every price point. Salena Simpson, who owns a We Insure franchise, says the cost of entry was much less for her franchise when compared to opening a restaurant business, for example, or a non-franchised business that did not provide access to systems, sales and support. POPULAR INDUSTRIES FOR WOMEN FRANCHISEES Fitness This year two fitness brands made our top franchises for women list: 30 Minute Hit and Burn Boot Camp. Despite becoming millionaires at the age of 26, Burn Boot Camp founders, Devan and Morgan Kline, say that their business isn’t about the money. “We measure our success largely on the impact we have,” Devan Kline said, “People want to be a part of something bigger than themselves.” Deanna Loychuk, president and co-founder of 30 Minute Hit, a leading fitness franchise and women’s only boxing gym, says that 75% of their franchise owners are women, while the remaining 25% are largely husband and wife teams. “Women today are looking to make a difference in the world,” said Loychuk. “We are hearing from our female franchisees they want to have a more rewarding career and want to impact other women’s lives through a positive, supportive ‘communiHITy!’” Jodie Peck, owner of a 30 Minute Hit franchise in Halifax, Nova Scotia, decided she wanted to buy a franchise after attending the gym herself: “I fell in love with the focus on feeling good about myself, and the positive empowerment of women—I wanted to be part of that! I love seeing how happy members are when they are at the gym—this happens every single day!” According to our most recent independent surveys, 91% of women franchisees in the fitness sector say they enjoy franchise ownership and 86% would recommend their franchise system to a friend. Not only do fitness franchisees feel a sense of purpose and positivity in their work, they can also benefit from good work-life balance. While many franchisees struggle with worklife balance challenges, nearly two-thirds of franchise owners at 30 Minute Hit and Burn Boot Camp report they have a good lifestyle balance between work and home. “I would say the best thing about owning a 30 Minute Hit franchise is the flexibility,” said Stacey Firth. “I’m a mom and I get to spend lots of time with my kids: that was my whole goal when I opened. Franchising has completely changed my life.” The fitness industry has seen notable growth over the last couple of years. In a Guidant Financial and Lending Club survey, it was reported that fitness businesses are the third most popular industry for entrepreneurs. According to IBISWorld, as the healthconscious community continues to expand, so do the number of fitness franchises; as of May 2019, there were nearly 10,000 gyms with an estimated 72,000 people employed. So, if you are a health conscious entrepreneur, who is looking to invest in the fitness industry without the extensive ramp up time typically required with a new small business, a fitness franchise might be a great choice for you. Senior Care This year five senior services brands made our top franchises for women list. These brands include Senior Care Authority, Homewatch CareGivers, Assisting Hands, Home Care Assistance, and Visiting Angels. By 2050, today’s senior population will nearly double, according to the U.S. Census Bureau. Most of these seniors prefer to live at home, driving the demand for home care businesses, an AARP survey reports. “Home care provides opportunities for socialization, mental stimulation, physical well-being, and brings meaning and purpose in life to seniors,” said Barbara Schuh, vice president of franchise operations for Home Care Assistance. It may come as little surprise that women are thriving in the senior homecare space. Home Care Assistance reports that 60% of their North American franchises are owned by women. “Women are initially attracted to our franchise opportunity due to our industry, financials and strong female leadership” said Schuh. Beth Brown, a Home Care Assistance franchise owner in Palm Beach, Florida notes, “Women make great franchisees for a multitude of reasons. We possess a strong ability to communicate and collaborate, which is imperative to succeed. A good franchisee is constantly learning and is willing to reach out and communicate with fellow franchisees, colleagues, and customers in order to grow. Women are always willing to help, as well as ask for help when they need it.” If a senior care franchise sounds appealing, now is a great time to invest. The nation’s population of older adults is experiencing unprecedented growth. According to U.S. Census data, the nation’s 65 and older population is expected to nearly double over the next 30 years. For more information on the companies in this report, visit www.FranchiseBusinessReview.com | 9
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FBR Issue 3 - 2019

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