Women Outnumber Men in Pursuit of Franchise Ownership, Driven By Millennials and Generation X
May 25, 2021 – Among younger generations in particular, women lead in the number of investment inquiries made to franchises according to analysis of data from January to April 2021. Since we last reported gender demographics in September 2020, women have surpassed men in share of total prospects that are identified as male or female.
- Gender of prospective franchisees is balanced across all age cohorts. Overall, women account for 50.08% of prospects contacting franchises, and men 49.92% This compares with women at 47.8% and men 52.2% of prospects contacting franchises for January-August 2020.
- Women make up higher percentages of the younger age cohorts, at 50.8% of Generation X (ages 41 to 56) and 50.6% of Generation Y (also known as millennials, ages 25 to 40). One can see in the graph below higher relative percentages of the 49-55 age group (within Generation X) and peaks at ages 37, 40 and 43 that contribute to higher female participation in the millennial cohort.
For this analysis, Franchise Insights combined proprietary data from the FranchiseVentures’ demand-generation platform with demographic data from Alliant, a leading provider of U.S. consumer audience targeting and data enrichment and predictive analytics.
FranchiseVentures is the leading franchise lead-generation platform for potential franchisees to thousands of growing franchise systems in the United States and Canada. Its franchise lead generation brands include Franchise.com, Franchise Solutions, Franchise Gator, Franchise Opportunities, Franchise For Sale, SmallBusinessStartup.com and BusinessBroker.net, and together they provide the largest aggregation of prospective franchise buyers in the U.S.
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Published on Tuesday, May 25th, 2021.