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Business Ideas for Women: Why Franchising Works

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The business world is no longer the climate of males with power suits and marginalizing ideals. Women have exploded into the startup sphere and franchise world alike—offering refreshing and nuanced views into an enterprise and how to start and successfully run a business.  An increasingly common framework is women taking control of their careers, venturing into entrepreneurial realms.  Business ideas for women span from website management to pet sitting, but how do you settle on the right business plan?

It all starts with an idea.

Mix a little introspection and a feasible business concept.  Entrepreneurial women have taken market segments by storm. If you want to own your own small business and become your own boss, it begins with an idea. Ask yourself these questions:

  • What is your goal for your business?
  • What are your interests? What do you like to do?
  • What are good at?
  • What do you want to learn?
  • What makes you happy?

What is your Objective?

Do you want to earn a second income? Many women consider representing another company selling insurance, cosmetics, or timeshares. The list doesn’t stop there! The sales segment of the marketplace is constantly widening—inviting many women to make strong figures as an independent sales rep.

Freelancing is also gaining strength in the digital schematic. Blogging, software development, and website management are also budding sideline careers where women can earn some extra cash.

Do you want to work in a career that offers flexibility to spend time with the family? Many entrepreneurs quit their job, not only because they are tired of corporate America, but because it’s basically impossible to raise a family while working a 9-5. Becoming self-employed gives you the keys to your schedule.

Do you want to change the world? One of the most challenging business ideas for women is starting a co-op or nonprofit. The work will be intensive, but if you are poised you can make this dream a reality.

Do you want to contribute back to society and better the community around you? This is good. Too many people depart corporate careers to start their own business with purely fiscal motivations. With this mindset, you are going to fail. It takes passion to deliver the intrinsic motivation necessary to see true success in all industries of business.

Consider a Successful Business Model: Franchising

“The gambling known as business looks with austere disfavor upon the business known as gambling—Ambrose Bierce.”

Business experts tend to agree with Bierce. We interpret Bierce’s words to mean that yes, business is about risk, but what separates it from gambling are the certainties. A calculated risk is the business-savvy gamble business owners make when investing with a franchise that fits them.

Many opt for franchising because it offers more stability. You take a brand, and a concept in a pathway of your choosing, and success becomes much easier because the path is already carved. It’s easier to go when one has already gone before you. Many of the time-consuming and expensive tasks of owning a business are already fine-tuned in franchising.

This comforting when 51% of small business fail in the first four years, according to the National Association of Small Business’s Economic Report.

Franchising offers:

  • Brand Awareness
  • Support
  • Training
  • Access to Inventory, Equipment, and Supplies
  • Marketing
  • Faster ROI (Return on Investment)
  • Culture Fit
  • Proprietary Software

When you are in league with a good franchisor, they should treat you as a business partner—fully invested in your success.

Women and Franchising

The ‘Glass Ceiling’ is cracking and in some cases shattering within various business ideas for women. The franchise sector is helping many women escape outmoded constraints found in the traditional workforce.  According to a Women-Owned Businesses Report, between 1997 and 2014 the number of women-owned business increased by 59%. Compared with the 41% of male-owned business growth during the same time period.

The franchise world has open doors embracing women to help level the playing field. According to the Wall Street Journal, 28.1% of the sector is dominated by women owners and is widening further in 2017. (Lets push this numbers up!) As the playing field diversifies many wonder, why women are overturning job offers to begin franchising?

The reason is overall satisfaction.

The Franchise Business Review surveyed 6,400 women representing 300 franchise brands from July 2015 to December 2016 to report new numbers on female participation. What they found is pleasing.

Key Findings of the Study:

  • 90% of women enjoy operating their business
  • 85% state they would recommend their franchise brand to others
  • 88% state they enjoy being part of their organization
  • 84% say the respect their franchisor
  • 74% state they would do it again knowing what they know today
  • 54% of female franchisees state overall work/life is balanced

Compared with the reports of employee disengagement across various industries in America, these statistics are quite impressive. We hope this is a beckoning force for more women to abandon the hypocrisy of corporate jobs and start calling the shots by becoming self-employed as a franchisee.

What other business ideas for women are opening in different markets?

Pet Care: A Booming Industry

The pet industry first started gaining traction after the huge expansion which began during the Great Recession. During the recession, the pet industry proved itself recession-proof—an industry economically independent of the climate of the rest of the marketplace.

Since 1994, the industry has holistically grown by a galvanizing 269%. Last year, total expenditures ended at $66.75 billion—10.7% growth from the previous year. Even more impressive was that pet industry’s expansion surpassed forecasts given by economic analysts. The projection for the 2017 year is estimated to end at $69.36 billion.

There are several societal factors contributing to the continuum of expansion in the pet industry. First, the baby boomers are retiring. Retirees follow the market trends of getting a dog for companionship in their golden years. This trend is also giving way to even more promising news for pet franchises—Millennials are now the primary pet owners in America.  Of the 68% of U.S. households that own a pet, 35% are Millennials. Combined, the two demographics add up to 67% of the 84.6 million households that own a pet.

The third reason needs no explanation. Dogs are cute—plain and simple. Don’t believe it? Scroll through the themes of this summer’s Hollywood hits coming to theaters to see all the pet-related movie premieres.

How Do Women Fit into All of this?

Right at the center.

Two women who have found a successful haven in Splash and Dash Groomerie & Boutique family are Beth McElroy and Valayia Smith. Both women have become huge leaders in their community by pursuing business ideas for women and from women.

Beth owns her shop in Monroe, New York.

“It’s outside of anything I’ve ever seen in pet grooming salon. I had my own pet grooming salon for 33 years,” McElroy tells us. “Splash and Dash franchise is the only one that has embraced the grooming industry. It’s a big step but my experience has been the most exciting move I’ve made.”

Beth joined on early in Splash and Dash franchise and has been attaining been streamlining her goals since.

Valayia, on the other hand, is new to the franchise but is already making huge splashes at her shop in Alamo Heights, Texas. “I Just knew I needed change. I just wasn’t cut out for corporate America. I had to find something where I could still make the income I made as a consultant, but I could come home every day.” Smith said. “I started looking for opportunities and I found Splash and Dash. I loved what I found. Nothing exists like this is in San Antonio.”

Valayia has been setting company records in sales as a leader in an already leading franchise in the grooming industry.

Don’t let your dreams pass you by! Explore franchise opportunities now.

 

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What Makes Five Guys a Tasty Franchise Investment?

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The Origin of  Five Guys Burgers and Fries

The self-described ‘fast-casual high-quality’ burger restaurant was founded in 1986 by Jerry Murrell in Arlington, VA. Murrell is the chief executive and founder. The original concept was a burger joint, plain and simple. He started the first burger restaurant with his five sons, hence the name—Five Guys Burger and Fries. Murrell and his five sons have remained integral to the process throughout the entirety of the company’s growth.

The oldest son Jim helps oversee the entire operation while second in command (and age), Matt is in charge of opening new sites. Chad, next in line, does manager training across the 1400 locations in 8 countries while Ben is the IT guy. Tyler, the youngest, supervises the bakeries that supply Five Guys restaurants’ buns.

The Five Guys menu has not changed much over the years. Every franchise location offers various size burgers with a selection of 15 toppings. The company website boasts that there are over 250,000 ways to order a burger. Fries come two ways—Five Guys style or Cajun style. Hot dogs and veggie sandwiches are also available.  Other than the addition of milkshakes the menu selection has stayed true to the original wishes of Murrell and his sons.

Franchisees have attempted to expand the menu trying to offer additions like chicken sandwiches and coffee. After some trial and error, Five Guys has stood strong and maintained close as possible to core company concepts—burgers and fries.

  • Initial Investment: $152,000-$360,300
  • Net Worth Requirement: $500,000
  • Liquid Cash Requirement: $150,000
  • Franchise Fee: $25,000
  • Royalty Fee: 6%

Rapid Franchise Expansion

From the years 2006 to 2012 the company has grown 792% opening almost 1,400 locations in the U.S. and Canada. The franchise plans on continuing its spreading of the burger empire overseas. Locations have opened frequently in the United Kingdom and checkered across the rest of Europe.  200 of the locations are currently company owned with the latter 1,239 shops owned by franchisees.

In 2017, the company’s first quarter total income ended in $388.09 million. A typical Five Guys franchisee owns 10 to 15 restaurants which cost anywhere from $350,000 to $500,000 to open and on average make around 1.2 million in annual revenue. From this, an initial $25,000 franchise fee and 6% royalty fee is taken. The company has high standards—quality is everything, both in product and in the franchisee.

What Makes the Five Guys franchise appeal to the Masses?

Outside of intelligent business decisions, Five Guys has been recognized and awarded by varied media sources most notably the Washingtonian. In 2013, the franchise won the esteemed #1 Burger Chain Honor over Smashburger, In-and-Out, and Shake Shack.

Two famous political stories have added to the burger lore that already mystifies the company’s origins. The first is an order placed by the Pentagon for 15 burgers. Murrell spoke with an admiral explaining that the restaurant didn’t deliver and even went as far as hanging a 22-foot-long banner embroidering the words, “Absolutely No Delivery” over the restaurant. The admiral called Jerry Murrell personally telling him “Mr. Murrell, everyone delivers to the pentagon.”

Another anecdote in the franchise’s history is when former President Obama showed up a to a Five Guys in D.C. and ordered, “A cheeseburger with lettuce, tomato, jalapeños, and mustard.” Obama also ordered burgers for his team starting a series of articles about the love affair between the former president and cheeseburgers. This earned him the title President O’Beef back in 2009.  

What makes a strong and competitive franchise grow at the rate Five Guys has been able to? Strong brand, support, training, and consumer appeal.

What have other franchises in other industries share the same success story?

Splash and Dash Groomerie & Boutique  

  • Initial Investment: $110,750-$177,600
  • Net Worth Requirement: $350,000
  • Liquid Cash Requirement: $125,000
  • Franchise Fee: $48,500
  • Royalty Fee: 6.5%

Just as Americans go crazy for double cheeseburgers they do the same for their pets. In 2009, one man recognized the growing trends of dogs making their way from the backyard to the living room and began new concepts in the pet franchise.

Dan J. Barton became the founder and CEO of Splash and Dash for Dogs (now known as Splash and Dash Groomerie & Boutique). The company started as the answer to a market gap. Catering to pet parents who viewed their animals as more than just an animal. Barton himself was sick of taking his own dog, Mercedes, to industrial feeling big-box pet stores for grooming. The service was bad, the groomers were impersonal, and the pricing made it all seem not worth it. Barton began taking business concepts perfected in the Gym Franchising world and tweaking them for the pet industry.

The concept was simple. A convenient place that pet owners could trust to pamper and love their dog while they got a great cut and could purchase all the necessities of owning a dog. The stores smelled great. The service was warm and knowledgeable, Pets felt relaxed and the prices were fair.

Many became intrigued with opening a small business as a pet franchise owner during the Great Recession. The industry was impervious to the financial decline that was affecting the rest of the economy. The pet industry actually thrived during the recession growing 23.44% from the years 2008 to 2012. Not only was it a financially savvy decision, but franchisees found freedom in the haven of owning their own pet franchise—unrestrained by the limitations of corporate America.

From a franchisee perspective, it feels very similar to Five Guys—a model for success. Investing in Splash and Dash is a continuation of one’s professional development. Shop owners take their business minds, creative ideas, and passion for animals fused with proven business models to become leaders in their community.

With low investment fee, shop owners are able to break even after six months after opening. How is this done? With recurring revenue streams, uncompromising quality in service and products, and love. These core values create the atmosphere of every Splash and Dash location. When you sign on as a franchise owner, Barton and the corporate team help you along the whole venture.

Take it from the shop owner John, ” I spent 20 years in corporate America, and was completely burnt out. I was looking for something that I could do on a daily basis that made me happy. I love Splash and Dash because I spend my days being covered in slobbery puppy kisses and making my clients happy. There’s no better feeling than when you reunite an owner with their freshly groomed, clean furbaby! Also, the corporate office is always there when I need them – which is so important when you’re a new owner and learning as you go.”

 

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