As the number of women in franchising grows. franchisors are naturally turning their attention to attracting female entrepreneurs. According to Price Waterhouse Coopers and the International Franchise Association, about 25% of franchises are owned by women.
FranchiseHelp.com conducted an informal poll to learn towards which franchises women trend. The answer was those that allow a flexible schedule, a daytime schedule, or relate to something they feel strongly about, like nutrition or pets. They identified popular franchise choices as Naturals 2 Go, Kumon Math & Reading Centers, Cleanpro Carpet Cleaning, and Bark Busters.
Patricia Deering of FranNet says that franchises typically begin at $50,000 and go up from there. “Usually, they need to have 25-30 percent of their own money and they need to be able to support themselves while they are growing the business.
For women who want to be in charge of their own financial destiny and can manage the up front costs, there are many franchise options. All franchises don’t require the hours of a fast food franchise. The key is to find the fit best for your background, interests, and lifestyle.
Under 30 CEO offers a list of 21 Franchises best for entrepreneurs in their twenties. They selected franchises with relatively low start-up costs, appropriate for the experience level of someone in their twenties, and with franchisors favorable to young investors.
- Weed Man. The largest lawn care company is a good transition for someone who spent summers mowing lawns. The franchise offers the business, marketing, and logistics support to help an entrepreneur get a franchise off the ground.
- GroOrganic. Combining entrepreneurial fire with a desire to do good in the world, GroOrganic franchises assist people and businesses in growing organic backyard gardens that are later harvested for food consumption. With a minimum cash investment of only $10K, this is a good option for an entrepreneur who enjoys outdoor work.
- Fetch! Pet Care. This dog walking and pet sitting business requires low net worth to start, has relatively low risk, and a system that is accustomed to young entrepreneurs.
- Recruit. For the sports-minded, a Recruit franchise may be a good choice. Franchisees obtain, refine, and disseminate key scouting data for colleges recruiting high school athletes.
- Merry Maids. This well-known cleaning service offers another avenue for young entrepreneurs to break into franchising. Translate your years of doing chores and business expertise to a successful venture. This cleaning franchise also has low entry requirements, a minimum cash requirement of approximately $25,000.
For more options, check out the full list.
On Veteran’s Day 2015, America’s Swimming Pool, the nation’s largest pool service company, rolled out a special program in appreciation and admiration for our nation’s veterans and the sacrifices they have made for our country. One veteran is selected every year and is awarded a waiver of the full franchise fee. The application process is simple, starting with a short form on the ASP website. Take your chance at winning a business.
The issue of auto franchising is front and center in Connecticut. Senate Majority Leader Bob Duff, D-Norwalk introduced a bill to allow electric car manufacturers to sell their vehicles directly to Connecticut consumers. The bill limits electric car manufacturers to three Connecticut stores.
This is a change from the current system that requires all car manufacturers to apply for a franchise license and offer vehicle servicing. The Connecticut Automotive Retailers Association (CARA) wants electric car manufacturer Tesla to be held to the same standards and requirements as other car companies. CARA President James Fleming said. “We would welcome (Tesla) to join us in the franchise system today, as we have asked them over the past couple of years when they’ve come in to visit the state of Connecticut.”
CARA, the Alliance of Auto Manufacturers, and General Motors joined to make the statement that the state’s auto franchise system is effective and special treatment should not be given. “What we want to make sure we have is one set of regulations for everybody who’s going to compete in this marketplace,” said Landon Fulmer, vice president of state affairs for the Alliance of Auto Manufacturers. “We don’t need carve-outs, we don’t need loopholes. We need to make sure everybody plays by the same rules.”
Watch and see whether Tesla and other electric car manufacturers will be given special treatment.
Auto Retailers, Makers Call on Tesla to Apply for Franchise The CT Mirror Mar 1, 2016
Franchises and franchise agreements must comply with the competition rules in Hong Kong’s Competition Ordinance. While franchises have a right to protect their brand and intellectual property, they don’t have a right to limit competition. Excessive restrictions demanded by franchises will run afoul of competition law, but measures specifically necessary to implement the franchise agreement will not.
Beware these restrictions:
- Resale Price Maintenance (RPM). The Ordinance’s First Conduct Rule (FCR) prohibits an agreement or arrangement between two parties that has the object or effect of harming competition in Hong Kong. A franchisor may, therefore, provide a franchisee with a recommended price list and a maximum price, but may not require a franchisee to resell goods or services at a fixed or minimum resale price.
- Non-compete. An overly zealous non-compete with a broad scope or extended duration likely breaches the First Conduct Rule. Franchisors may restrict a franchisee’s operation to a specific territory and prevent a franchisee from selling competitive goods.
- Franchisee suppliers. “A franchisor may require franchisees to purchase goods or services from the franchisor, a related company, a particular supplier, or a list of nominated suppliers.” Such arrangements, however, should not limit competition.
Navigating the Hong Kong Competition Law – Competition Issues in Franchise Agreements Bird & Bird Feb 25, 2016