Today’s business world is challenging in many ways. Countless factors affect the economic spheres. However, there are imbalances present within the spheres. In terms of gendered industries, there are fewer opportunities and the underestimation of female business powers. Fortunately, there are titans among us who are continually thriving and leading and supporting female entrepreneurship.
Matt DiFrancesco talks to three phenomenal entrepreneurs voicing their success and hustling to prove that women can conquer the business spaces that were gated and populated by the opposite gender.
Every business needs some backing, either in finances, information or connections. So, if you are ready to take off and fly high, it is important to discuss your financial plans. Not all your concerns need to circle around numbers, be it retirement-related queries or exit/succession plans. However, you will need advice from seasoned professionals. If you are interested in going over all of these points, you can schedule a free 20-minute conversation with Matt DiFrancesco from HighLift Financial.
Who Are These Influential Female Business Titans?
Amy Bradley
Amy is the President and CEO of Cambria Regional Chamber of Commerce in Johnstown, Pennsylvania. With her vast expertise and experience, she has a clear grasp of what a business needs to succeed, especially in the new normal following the pandemic.
Beth Walker
Beth is the founder of the “Center for college solutions.” It aims to make college affordable for all families through various college affordability programs. Beth is also the author of the book “Never pay retail for college: how smart parents find the right schools for the right price.” In a sensitive area like capital planning for college, I brought Beth onboard to provide my clients with accurate student loan information and help them navigate the challenges of paying for college.
Britt Schroeder
Britt is a franchise consultant with FranChoice. In addition to providing free franchise consulting, Britt is the co-author of the “Franchisee Playbook.” Due to her well-defined process, which involves listening and asking the right questions, she is one of the most well-versed franchise consultants who can help people start their franchise with a low investment.
Trends That The Small Business Trends Alliance Sees
There is a noticeable trend that the Small Business Trends Alliance is currently seeing. Most women business owners tend to be younger than their male counterparts. The percentage of women who own small businesses or franchises has risen to 31% from 27% last year. Gen X (born between 1965 and 1980) makes up nearly half of those business owners, while Baby Boomers (1946 – 1964) account for 31 percent, and Millennials (1981 – 1996) make up 17 percent. Amy agrees with the statistical disclosure and elaborates that she has witnessed young women opening small boutiques.
How The International Franchise Association Can Help
The International Franchise Association, the IFA, has an organization specifically for women with a wealth of resources that you can access online, everything from business planning to marketing and execution.
Advantages Women Business Owners Have in Male-Dominated Industries
According to Brett, when you think about the challenge with any business and starting something from scratch, the biggest challenge is how will I gain market share? How will I get my disproportionate piece of the pie, especially with male-dominated businesses?
One way to stand out is for a woman to step into that space. So, it gives them a platform to simply be different and build awareness around the product or services they’re offering. Due to these factors, Brett is a huge fan of helping women move into businesses such as automotive, janitorial, junk removal, tree removal because of the unique skill sets brought to the table that allow them to shine.
I agree with Brett’s point as I specialize in working with independent family-owned businesses, and the automotive industry is predominantly collision shops in automotive repair. However, after doing some research, I found that women own only 10% of collision shops. This finding made me curious to know about these women.
Luckily, I came across a woman in Philadelphia who was just tired of working for garages. So, she went to auto mechanic school, learned how to be a mechanic, started her garage, opened up numerous garages, and now has a school to teach women how to be auto mechanics.
The Industries That Are Crowding with Females
In the current business environment, women are frequently drawn to certain industries. For example, Brett reveals that more women are now drawn towards the home service or construction type industries. These industries include Kitchen and Bath repair, heating and air conditioning.
Business leaders like Beth, who is in financial services, are beginning to serve as mentors for women to get into the business. But, according to Beth, they should polish several skills before setting up a business. Number one, you have got to have access to capital and an understanding of where you will have money to meet your startup costs. Whether that’s a loan through the SBA, GoFundMe, or a home equity line of credit, you need to have a solid reservoir of capital.
Secondly, the key is to keep your expenses as low as possible while generating revenue. Lastly, Beth’s strongest insight is that if you can solve a problem for people that have more money than time, you’re going to be successful.
Schedule a Conversation with Matt
There is an increasing number of women in male-dominated industries. Due to this, there is an increase in family-owned businesses trying to survive and thrive in a post-COVID era. Since every business needs to have a clear path, business owners can seek professional advice from the experts who have guarded the area for several years.
Whether you have started a franchise or an automotive business, you can easily schedule a free 20-minute conversation with Matt DiFrancesco from HighLift Financial to discuss your vision for your life and business.
Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not necessarily be similar to the opinions and views of High Lift Financial. The availability of this content only serves educational and informational purposes. It is not a substitute for tax or legal advice or professional investment.
Always make sure to consult your financial advisor with any queries related to personal or business planning. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.