5 Successful Business Ideas for Women Entrepreneurs
I do not wish women to have power over men; but over themselves. – Mary Shelley
Starting a business can be a daunting prospect for anyone, but for women, it can be an especially intimidating task. With that in mind, we’ve compiled a list of five successful business ideas that are tailored specifically to female entrepreneurs.
First off, let’s look at some statistics about women-owned businesses:
- As of 2021, there were an estimated 12.3 million women-owned businesses in the United States, employing 9 million people and generating $1.9 trillion in revenue.
- Women-owned businesses make up 42% of all privately held firms, and are responsible for creating 1,821 new jobs per day.
- Women of color are the fastest-growing group of entrepreneurs in the United States, with Black women-owned businesses growing by 164% since 2007, and Latinas by 87%.
- In 2021, the industries with the highest concentration of women-owned firms were health care and social assistance (36%), professional, scientific, and technical services (20%), and retail trade (20%).
- According to a report by American Express, the number of women-owned businesses has grown 58% since 2007, which is 1.5 times the national average for all businesses.
- According to the National Women’s Business Council (NWBC), women-owned firms are more likely to be small businesses, with 92% having fewer than 10 employees.
- According to a report by the National Women’s Business Council, women-owned firms are less likely to have employees than male-owned firms.
- According to a report by the National Women’s Business Council, in 2019, the average annual revenue for women-owned firms was $250,000, compared to $2.5 million for male-owned firms.
- According to a study by the Center for Women’s Business Research, women entrepreneurs are less likely to seek funding from venture capitalists and other institutional investors.
So, you will be in good company! Shall we start?
Freelancing is an attractive option for female entrepreneurs as it allows for flexible working hours and the ability to work from home. This makes it easier for mothers who are juggling childcare and other commitments. Freelancing also gives you the freedom to choose the projects you’re interested in and the clients you work with, allowing you to work on projects that you find meaningful. Additionally, freelancing allows you to set your own rates and hours, making it easier to manage your finances.
However, freelancing does come with some challenges. It can be difficult to find reliable clients and projects, and it can be difficult to stay motivated and focused on your projects. Additionally, there’s no guarantee of steady income, so you will need to be prepared to manage your finances in order to make ends meet. To help with these challenges, there are a number of resources available, including freelance job boards and websites, as well as local networking groups and seminars. With the right guidance and dedication, freelancing can be a great way for female entrepreneurs to gain the independence and flexibility they need to succeed.
These are the top sites for freelancing:
- Task Rabbit
- LinkedIn ProFinder
- We Work Remotely
- Authentic Jobs
Franchise ownership is a great option for women entrepreneurs who want to own a business without having to start from scratch. A franchise business is one in which an established business sells the right to use its trademarks, business systems, and processes to an independent owner. This can provide a great head start, as the franchisee can benefit from established brand recognition, existing customer relationships, and a proven business model.
There are many advantages to owning a franchise. Franchisees can take advantage of turnkey operations, meaning that they benefit from the parent company’s expertise and resources, helping to minimize risk. Franchisees also benefit from the marketing and advertising support of the parent company, as well as access to training and development programs. Finally, having multiple locations allows for more opportunities to increase business and attract new customers.
The downside to owning a franchise is that the costs can be high. In addition to the initial franchise fee and royalty payments, franchisees are responsible for day-to-day operations, as well as marketing and advertising costs. As a result, it can take a few years for the business to begin turning a profit. Additionally, franchise owners must adhere to the policies and procedures set forth by the franchisor in order to maintain their license.
Overall, franchise ownership can be a great option for female entrepreneurs looking to own a business. However, it’s important to thoroughly research the franchisor and the terms of the agreement before signing on the dotted line. With the right guidance and dedication, you can find success as a female entrepreneur.
Where to start:
- Franchise Direct
- Franchise Gator
- Franchise Opportunities
- The Franchise Mall
- Franchise Solutions
- Entrepreneur Franchise 500
- BizBuySell Franchise
- Franchise Business Review
- International Franchise Association (IFA)
- Franchise Times
- The American Association of Franchisees and Dealers (AAFD)
- Franchise Update Media
Blogging is a great way for women to start a business. Blogging is essentially a form of digital media, or online journaling, where entrepreneurs can express their thoughts, ideas, and insights. Blogging can help women build a loyal following and generate revenue through subscriptions, advertising, and sponsorships. Additionally, blogging provides an easy way for entrepreneurs to showcase their skills and share their knowledge with a larger audience.
There are a variety of resources available to help female entrepreneurs get started in the world of blogging. Platforms such as WordPress, Blogger, and Squarespace provide user-friendly interfaces that make it easy to create and manage a blog. Additionally, websites such as ProBlogger and Copyblogger offer helpful tutorials and advice on everything from design and content creation to marketing and monetization. Finally, there are many communities built around blogging where women can collaborate with other entrepreneurs and share tips and strategies for success.
Some of the best resources for learning blogging:
- Blogging to Win by Melyssa Griffin
- Blog by Number by Suzi Whitford
- Problogger: Secrets for Blogging Your Way to a Six-Figure Income by Darren Rowse
- Blogging with WordPress by WordPress
- Blogging Mastery by Jon Morrow
- Blogging for Creatives by Holly Becker
- The Blogger’s Blueprint by Ruth Soukup
- Blogging to Build Your Business by Neil Patel
- Blogging: The Ultimate Guide by Matthew Woodward
- Blogging 101 by Blogging Wizard
- Blogging to Grow Your Business by Michael Hyatt
- Blogging for Profit by Pat Flynn
- Blogging for Entrepreneurs by Lewis Howes
- Blogging for Fun & Profit by Steve Scott
- Blogging for Beginners by Blogging Wizard.
E-commerce is an increasingly popular business model, particularly for female entrepreneurs looking for a flexible way to make money. This type of business allows you to connect with customers all over the world, and it can be done from anywhere with an internet connection. With e-commerce, you can sell products or services, offer subscription services, or create a marketplace for online transactions. You can also use e-commerce to offer informational products and services, such as digital books, video courses, and audio files.
The key to success with an e-commerce business is finding a niche and building a strong brand. You’ll need to create a website and an online presence, develop an effective marketing strategy, and provide excellent customer service. You’ll also need to stay up to date on the latest trends in e-commerce and use the right tools to manage inventory and shipping. There are many resources available to help you set up and grow your e-commerce business, such as Shopify and WooCommerce. With the right tools and dedication, you can find success with an e-commerce business as a female entrepreneur.
Below are some fantastic courses on Shopify and E-commerce:
- Shopify Mastery by Evan Kimbrell
- Shopify: Create Your Online Empire! by Neil Napier
- Shopify Dropshipping: From Zero to Hero by Dan Dasilva
- The Ultimate Shopify Course by Rob Percival
- Shopify: Build Your Ecommerce Empire by Stefan James
- Shopify: Start Your Own Online Business by Jerry Banfield
- Shopify Blueprint: How to Build and Launch Your Online Store by Udemy
- Shopify: The Complete Guide by Paul Mitchell
- Shopify: Build a Successful Ecommerce Business by Daragh Walsh
- Shopify Profit Mastery by Anthony Mastellone
- Build Your Shopify E-commerce Website by Jose Portilla
- Shopify Marketing: Drive Massive Traffic to Your Store by Neil Patel
- Shopify: Build & Grow Your Online Business by Phil Ebiner
- Shopify E-Commerce Mastery Course by Jason Miles
- Shopify: Create Your Online Store by Joe Parys
Networking is a great way to build professional relationships that can help expand your business. Networking can take the form of in-person events, such as conferences and workshops, or virtual events, such as webinars and webcasts. Building a network of professionals who can act as mentors or partners can help you gain valuable insight into your industry and increase your chances of success. Networking also allows you to meet potential customers, vendors, and investors, as well as build relationships with other entrepreneurs who can provide advice and support.
Networking can be intimidating at first, but there are resources available to help you become an effective networker. Attending events, such as industry conferences and trade shows, is a great way to meet potential customers and partners. Participating in online communities and social media networks can also help you build relationships and create visibility for your business. Additionally, joining a professional organization or industry association can provide you with valuable networking opportunities and access to resources that can help you succeed as a business owner. With the right guidance and dedication, networking can be a powerful tool for female entrepreneurs.
Resources and Guidance for Female Entrepreneurs
There are plenty of resources available for female entrepreneurs. These can include access to mentors, networking events, and business training workshops. Mentors can provide invaluable advice on how to get your business off the ground, while networking events can help you make the connections necessary to grow your business. Business training workshops are great for brushing up on skills such as accounting and marketing, which can be essential for the success of your business.
- National Association of Women Business Owners (NAWBO)
- Women’s Business Enterprise National Council (WBENC)
- The National Women’s Business Council (NWBC)
- The Small Business Administration (SBA) Office of Women’s Business Ownership
- Women’s Business Center
- American Express OPEN for Women
- The Center for Women’s Business Research
- The National Women’s Business Owners Corporation (NWBOC)
- The Women’s Venture Capital Fund
- The National Association of Female Executives (NAFE)
- The Women’s Economic Ventures (WEV)
- The Women’s Entrepreneurship Initiative (WEI)
- The Women’s Leadership Institute (WLI)
- The Women’s Business Development Center (WBDC)
- The Female Founders Alliance (FFA)
These resources provide information, training, networking, and funding opportunities for female entrepreneurs. They offer guidance on starting and growing a business, as well as connecting entrepreneurs with mentors and other resources. Some resources are focused on specific types of businesses or industries, while others are more general in nature.
In addition to these resources, female entrepreneurs can also benefit from online communities, such as blogs and forums. These can provide an invaluable source of knowledge and encouragement. Women’s business associations can also be a great resource, offering advice, networking opportunities, and a supportive community of like-minded businesswomen.
Whether you’re just getting started or have been running a business for a while, having access to the right resources and guidance can make all the difference. With the right motivation and dedication, any female entrepreneur can find success. With the right resources and guidance, you can get the support you need to make your business dream a reality. Are you itching to start your dream business today?