The gender driven land rush: Innovation to optimise the tide of female professional practice ownership

The proportion of female graduates in the professions with a registerable qualification such as Pharmacy, Dentistry, Veterinary Science, Law and Accounting has steadily increased over the last 10 years such that females now account for over 60% in current graduate numbers. This is in professions where the practice level ownership is largely male and over 55 years of age reflecting the growth in suburban practices from 1970 to the mid 1990s. While the male practice ownership methodology is based around a traditional ”whatever it takes” focus on the owner, female preference is for a more proportional work / life balance which leaves significant gaps if the female graduates are to be the next generation of professional practice owners. Where there are gaps in any market, there are entrepreneurial opportunities and this paper identifies the sources of new value in assisting the female professional practice owner. As the aging male owners retire and sell to the next generation, there will be a land rush of sales to females who have a superior operating system that meets both their work and life requirements.