I’ve been thinking lately a lot about the momentum that’s been made by women empowered by business over the years. It’s quite impressive. Part of it is self-reflection on my journey as CEO and Co-Founder of Big Frog Custom T-Shirts & More, but if you are of a certain age, you can probably look back on your first job and realize just how far we’ve come in a generation or two.
Did you realize that only about 50 years ago, women-owned businesses represented less than 5% of all businesses? Today, that number has skyrocketed to nearly 50% according to a 2019 American Express State of Women-Owned Businesses report. More than 11.6 million businesses are owned by American women per the National Association of Women Business Owners. These companies generate $1.7 trillion in sales and employ nearly 9 million people.
From race to geography and gender and beyond, diversity in all its forms spurs innovation. And because women bring a different perspective to business ownership, we problem solve differently and innovate in new and creative ways. This bodes well for our economy and is evident in the fact that women-owned firms (51% or more) account for 39% of all privately held firms and contribute 8% of employment and 4.2% of revenues. In fact, one in five firms with revenue of $1 million or more is woman-owned.
While the pandemic shutdown caused far more women than men to leave the workplace, we still don’t know how many women-owned businesses were created. With necessity being the mother of all invention, I would surmise that despite the hardships the pandemic has brought forth, it seems likely that women-run businesses will continue to increase with creative and inspirational new companies being formed every day.
While the trends are positive, women still face more obstacles and barriers than other entrepreneurs when starting and growing their businesses. Eliminating those barriers that thwart growth and opportunity can not only spur our collective economic recovery, but it can also spark productivity, job creation and wealth across all sectors of the economy.
One of the most widely acknowledged and turnkey paths to entrepreneurship is through franchising. After opening Big Frog to franchising in 2008 – we’ve grown into a brand that consists of more than 50% female franchise owners or co-owners.
Did you know that according to a December 2019 Wall Street Journal article, women own or co-own 35% of franchises in the U.S. – about 245,000 units. That represents women-owned franchise growth of 24% from just 10 years earlier.
At Big Frog, being women-owned is something we take immense pride in. As a low-cost, high-volume proven concept, Big Frog is a business that specializes in Direct-to-Garment Printing, along with a variety of decorating services like Screen Printing, Embroidery, Ultra Print, Vinyl & Direct-to-Garment White. Our revenue stream is unlimited, attracting both B-to-C and B-to-B customers. At Big Frog, we make operating a business easy with minimal overhead, including a 2-to-3 team member ratio and low inventory. Our customers also love us. More than 70% of our customers come from repeat-and-referral business. And maybe most important of all, Big Frog is in the people business. Our daylight operating hours makes Big Frog’s model the perfect fit for families. With 9 am – 6 pm weekday retail hours and limited Saturday hours, quality time with family is not diminished just because you own and operate your own business.
From our corporate support systems to our streamlined business model, the entire Big Frog franchise system is designed to set up its local franchise owners for success. With a strong brand identity, excellent franchise relationships, and passionate executive leadership team firmly established, we also boast an affordable average initial investment of approximately $182,904 – $253,041 including a $39,500 franchise fee.
If you’re interested in learning a little bit more about Big Frog or want to talk about women and entrepreneurship, give us a call at 866-971-3764 or visit us at BIGFROGFRANCHISE.COM.