The latest 2024 National Franchise Survey, shows that women now account for 40% of all franchise owners, a substantial increase from previous surveys. The 2018 survey showed 30% of all franchisees being female and 37% of new franchisees being female whereas in 2005 only 20% of franchise owners were female. This indicates a continued and growing trend of female entrepreneurship in the franchising sector.
According to the survey, an incredible 99.5% of franchises succeed, in stark contrast to the 50% failure rate of independent startups, within their first three years, which may be a key influence in why women are approaching business ownership through franchising, looking for a safer, more structured way to step into self-employment.
This trend isn’t happening in isolation. ONS data shows that 1.56 million women were self-employed in 2024, an increase of around 8% from the 1.44 million self-employed women in 2014.
Why opt for a Franchise model?
Structured Support and Training
Franchising can provide the systems and guidance to help transition from employment into business ownership. The backing of an established brand, peer networks and ongoing client lead generation, technical advice and training can be a vital safety net.
Balancing Risk with Independence
Running a franchise combines entrepreneurial autonomy with lower risk than a start-up. For many entering the sector, this balance is key-particularly when moving from corporate roles or early-career positions into ownership.
Opportunities for Scale
Many franchise networks, like TaxAssist Accountants, provide a pathway to expansion through multiple locations, fee bank acquisition and franchise resale opportunities. This growth model allows people to think big while building sustainably.
Community and Credibility
Brand credibility is incredibly important in winning clients quickly. The TaxAssist Accountants model includes local shops backed by a national network which combines professional trust with community presence, enabling franchisees to establish roots faster.
Career Reinvention and Flexibility
For experienced professionals, franchising can be a second career with purpose. For younger entrants, it can provide flexibility and independence far earlier than the traditional corporate ladder.
Work-Life Flexibility
Franchising can offer more control over pace and structure than traditional employment or partnerships.
Overcoming Barriers
Franchising helps to address common hurdles to business ownership:
- Confidence: Mentoring and peer groups reduce the sense of isolation.
- Finance: Lender-friendly business models support access to capital.
- Exit planning: Clear resale routes create long-term security.
Industry Context
The rise in female franchisees has not happened by accident. Initiatives from the BFA and Encouraging Women in Franchising (EWiF) have been instrumental in highlighting franchising as a credible, supported route into business ownership. The impact extends beyond ownership: greater diversity at the helm of practices strengthens community ties and reflects client bases.
Case Studies: Female Franchisees at TaxAssist Accountants
At TaxAssist Accountants, over the past four years, 36% of the new franchisees we have welcomed to our network have been women. That’s up from 22% in the previous four years.
These case studies offer examples of women thriving within the franchise model:
Hannah Campbell – in 10 years she rose from Assistant Practice Manager at 24, to becoming 100% owner of four shops in Scotland via a management buyout, with turnover projected to reach £1m.
Olivia Palios - TaxAssist’s youngest female franchisee, joined at 21 in the North West and by her mid-20s had opened four shops serving more than 1,000 clients proving franchising’s scalability. She has now sold her practice and paid off her mortgage.
Bukky Shonola - acquired a resale in Letchworth and expanded into Hitchin. She has leveraged brand trust to build a thriving practice.
Karen Gonsalves - switched from a corporate career in 2024, launching in Woking and quickly surpassed her business plan, highlighting franchising as a platform for reinvention with structured training, strong networking and brand support.
Shayo Badejo – with more than 15 years’ finance experience prior to joining the network, she has built a successful shopfront practice in North London, crediting the strength of the franchise’s systems.
Janet McLean – running a high-street shop in Scotland serving 800+ clients, growing way in advance of her most ambitious planning.
Franchising vs going it alone
For women in accounting, franchising combines professional credibility with entrepreneurial freedom. With training, brand support and a clear framework for growth, it is increasingly seen as a practical way to achieve ownership without the risks of going it alone.
TaxAssist Accountants Enfield franchisee, Shayo Badejo, says, "Every time I'm asked why I went down the franchise route instead of doing it alone, my answer is simple. I chose the TaxAssist brand not just for the name but also for the proven model and seeing the success of others firsthand, which made all the difference.
"The TaxAssist Accountants model is about learning from those ahead of you, seeing growth in action, and knowing you're never alone."
The varied journeys of the TaxAssist Accountants highlighted above, show how franchising can provide early-career opportunities, a pathway to scale and a platform for career reinvention.
