In today's business world, women are making their mark on the home services sector. Women entrepreneurs are not only bringing fresh perspectives and innovative solutions, but they are also changing the way traditional home services businesses are perceived. The number of women seeking business ownership or entrepreneurship has increased steadily over the years.
In fact, the National Association of Women Business Owners reports that there are 12.3 million women-owned businesses in the US alone. In the home service industry and elsewhere, women are using their unique skills and leadership qualities to benefit their customers, their families, and their communities alike. For this reason, women in business continue to play an impactful role in the industry and have become a powerful force for positive change.
The Impact of Women in Business
Women in business bring an invaluable set of skills, talents, and perspectives to the table, from communication to problem-solving. As women entrepreneurs have flourished, so too have their business endeavors - and the communities in which these businesses operate. More specifically, the impact of women in business has produced greater diversity, stronger economic growth, and positive industry change.
Promote Diversity
In today's world, businesses that promote diversity are seen as relatable and socially responsible. And one way that women have led the charge on diversity is by hiring more women and other diverse populations. In fact, women entrepreneurs are more likely to create job opportunities for those who are too often overlooked, helping to bring in new talent and diverse perspectives. This, in turn, helps to drive socially-informed decisions that benefit the business and its customers in new and valuable ways.
Economic Growth
Along with promoting diversity, women entrepreneurs also help to fuel economic growth. A recent study found that advancing women's equality, including in the business sector, could add as much as $12 trillion to the global GDP by 2025. Furthermore, women-owned businesses are playing a critical role in job creation.
In the US alone, women-owned businesses have experienced a 114% increase since 2007, with women-owned businesses adding over 1.2 million jobs to the economy in 2020. This demonstrates not only the power of women-owned businesses, but their ability to fuel economic growth and create jobs in both local and national markets.
Drive Industry Change
Women and other values-driven entrepreneurs have started to transform the home services industry into one focused on providing quality services at an honest price. By incorporating their values and customer-focused solutions, women entrepreneurs can improve existing industry foundations and bring much-needed change to the home services industry.
For example, women often excel in soft skills such as communication, empathy, and self-awareness. These qualities help women to better understand customer needs and provide better customer experiences, both of which benefit both the business and its customers in equal measure.
Women in the Home Services Franchise Industry
Historically speaking, the home service industry has historically been dominated by men. Part of this is due to old models of home service delivery, where the business owner works in their business instead of running their business. With the increasing popularity of home services franchises, however, things are starting to change - and for the better. In recent years, women have begun playing a more active role in running home services franchises. Part of the reason for this is due to new business models that allow you to learn the industry as you go – no prior experience required! But another reason the home services industry appeals to women is due to the real benefits a franchise business offers.
For example, schedule flexibility is a top reason why women entrepreneurs seek to start their own business in the first place, something that owning a franchise business can provide. Plus, quality franchisors provide comprehensive training and support, so that business owners are never left to figure everything out on their own.
The home services industry in particular has seen a steady increase in demand, even through economic downturns. This resilience can help reassure new franchise business owners and ensure the long-term potential for profitability and growth. All of these features have made home service franchise businesses an increasingly attractive option for women entrepreneurs around the country.
Begin Your Franchising Journey with Neighborly®
At Neighborly, we’re proud to provide women entrepreneurs with the opportunity to join a well-established and thriving home services franchise. Neighborly offers 19 different industry-leading franchise brands, all of which provide you with the support you need to kickstart your successful business.
By joining Neighborly, you get access to our network of over 5,000 franchises and an extensive suite of digital tools to help you manage your business. Plus, with 70 years of experience and an unwavering commitment to women-owned businesses, you can be sure that you’re joining a franchise family with the values and tools you need to succeed.
Download our online franchise guide today to learn more about franchising and whether a home services franchise business is right for you!
