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Franchising Growing Among Women, Minorities

Written on December 7th, 2007 by Ryan Lee in Franchise Industry.

According to the research by the International Franchise Association, 20% of the total franchising industry in America is owned by minorities and 25% by women! These two segments of people are not only growing fast in the franchising arena, but also getting success at a higher rate. Moreover, various incentives are given to women or minority-owned businesses by the US government and several financial institutes. It translates into added benefits for the franchisors as well.

For example, in the field of real estate, American government rules stipulate that certain percentage of sub-contracting or contracting job has to be awarded to minority- or women-owned businesses. There are also certain organizations that are known for supporting the MinorityFran program. Examples of such companies from the handyman franchising category are Furniture Medic, Mr. Handyman and Sparkle Wash. Furthermore, financial organizations have program specifically for minority/women entrepreneurs and hence, getting finance for franchising is easier for them than general entrepreneurs. That is why the participation of minorities, whether Hispanic, African American or Asian American, in the franchising business is increasing day-by-day. Other companies that are recognized for helping minorities and women entrepreneurs are Liberty Tax Services, Roni Deutsch Tax Center, @Work Franchise, Abrakadoodle, College Nannies and Tutors and Homewatch Caregivers.

Several women of today have to make a choice between their career and family. There are many highly educated women who gave up their careers to become stay-at-home moms. But they are always looking for opportunities where they can earn well, while staying home. Hence, work-at-home franchises are very lucrative for women. Financial services and Business services that are home-based also appeal to women who have some experience in the management and sales areas. In fact, any home-based franchising concept is worthwhile for them.

To know more regarding this topic, contact brandEXPANSION.

One Response to “Franchising Growing Among Women, Minorities”

Franchising Business Works for Women | Franchise Ultra Lounge - Franchise Social Network Left at 8:37 am on January 8th, 2008
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[…] generate over $2.5 trillion in annual sales. Franchising business is not immune to the onslaught of talented women entrepreneurs; in fact, it attracts more of them than any other business. Let’s examine the reasons why […]