There are a number of options available to women entering the franchise industry:
- Personal Resources: Many women entering the franchise industry generally use personal resources (savings, support from family and friends) to initiate raising money to open their franchise business.
- Financial Institutions: Some female franchisees employ the services of financial institutions for debt financing or equity financing, or both.
- Franchisor: Franchisors can help generate necessary start-up finances to set up a franchise in some cases.
Other resources available to women entering franchising also include organizations dedicated to helping women finance their own business through locating or offering funding opportunities.
Association for Enterprise Opportunity
The Association for Enterprise Opportunity (AEO) promotes the micro-enterprise industry, encouraging entrepreneurs who seek to support themselves and their families and contribute to their communities through business ownership. This organization offers resources to help locate capital, training and mentorship while also providing a platform for product and services promotion.
Government Grants for Women and Minorities
Government Grants is a website dedicated to outlining available government funding opportunities for those seeking funding to start a franchise or other business.
Small Business Administration
The SBA offers a variety of loan programs, including one often referred to in franchising: the 7a loan. In addition, many franchises have become SBA approved, which means prospective franchisees are eligible for expedited processing when applying for a loan to invest in that particular franchise system. The SBA also offers venture capital programs to help prospective business owners find funds to grow. Visit the links given to see if you qualify.
Women Owned is a business network for women focused on helping small businesses profit, connect and grow. Formed in 1998, Woman Owned provides business information and networking assistance in addition to resources geared toward women setting up, running and growing businesses.
Women’s Venture Fund
The Women's Venture Fund, Inc. is a non-profit organization that helps women establish businesses in urban communities through courses, counseling, small business loans and more.