Five Franchises For Women | My Franchise CPAs
Franchising has evolved into an amazing medium for women to realize their dreams of business ownership.
In fact, participation in franchising by women has nearly doubled over the last decade.
As reported by Elizabeth Garone in the Wall Street Journal,
“Women own or co-own 35% of the franchise outlets in the U.S.—around 265,000—according to the Franchise Business Review research firm. That represents outlet growth of 24% from a decade earlier, and in the two years ended in May, 41% of new franchise outlets opened have been owned or co-owned by women.”
Of course, a woman can own any franchise she so chooses. However, based on our experience and research in the industry, we have found that women seem to gravitate towards certain brands more than others.
Here is our list of 5 great franchises for women in 2020:
1 – Mathnasium
Mathnasium, established in 2003, is an award-winning math tutoring franchise for pre-K to 12th grade students. The franchise has well over 1,000 units across the U.S. What we often here from Mathnasium franchisees is they love the boundless support they receive from the franchisor. Mathnasium requires up to $150,000 in net worth, and requires an up-front franchise fee of $49,000.
2 – Deka Lash Studio
Deka Lash is an eye extension franchise which has 72 locations as of 2017. If you like the beauty industry, Deka Lash is definitely a franchise to keep your eye on. Coming in a little more costly than Mathnasium, you can expect to invest anywhere between $179K to $426K to open the doors. Deka Lash requires a franchise fee of $51,900.
3 – Lightbridge Academy
This franchise arrived just in time. With the growing need for childcare to meet the needs of working parents, Lightbridge Academy delivers. Build your business by supporting the children of working parents, while growing your empire at the same time. What could be better than that? Lightbridge Academy is the most expensive listed to open yet, coming in at between $541K to over $5M to open the doors. This includes a franchise fee of $40,000. So far, there are 47 Lightbridge Academies open, with 14 more scheduled to open in 2020.
4 – Budget Blinds
If you crave something a little more blue collar, Budget Blinds is one of the best performing, most profitable franchises we have worked with so far. Budget blinds is the largest window coverings sales and installation franchise in North America. The total investment required to open the doors is $109,950. What’s great about Budget Blinds is the opportunity for commercial work. Also, as a woman you can receive preferential treatment for government commercial opportunities. Also, if you’re not interested in the heavy lifting involved in installing blinds, you can hire qualified installers to do that for you so you can focus on the sales and marketing of your franchise.
5 – Home Helpers
We all have a special family member or friend who is a bit older and that needs a companion and of special care. This is exactly what Home Helpers offers. If you our passionate about our elderly, consider purchasing a Home Helpers franchise. Home Helpers is growing at unprecedented rates in the industry. The total investment required to purchase a Home Helpers ranges from $84,750 to $136,900, with an initial franchise fee included in these figures of $48,900. Home Helpers currently has 300 locations across America. The franchise was founded in 1997.
These are five great franchises to consider along your journey to finding the right fit for you.
If you need help determining which franchise is right for you, we invite you to speak with one of our franchise experts by clicking here.