Entrepreneurship is on the rise for women in America, with the growth rate nearly doubling that of their male counterparts, according to 2024 data from Wells Fargo.
A former Navy reservist is among 39% of women driving economic growth in the U.S., a decision she made after an opportunity came to use a Small Business Administration loan to purchase a handyman franchise, she explained.
Jo McCabe, who served as an aircraft maintenance officer, thought, “How hard could it be?”
Her grandfather was a carpenter, and her dad —also a Navy veteran — was always fixing up every house they lived in. She found out about veteran friendly financing available through SBA to purchase Mr. Handyman of Northern Virginia, and said her interest was piqued.
It was the fall of 2008, while McCabe was still in the Navy Reserve, and she wanted to do something different with her career. Little did she know that within one month, the economy would crash — and that would be far from her last challenge as a business owner.
“It’s definitely had its ups and downs,” said McCabe, who finished her time as a reservist in 2011. “I’ve learned a lot of lessons the hard way.”
The Navy, she says, taught her quite a few lessons beforehand, including the importance of surrounding yourself with a good team and following a proven system.
“The military is notorious about having strategic plans and systems you follow, because they’ve been successful,” she said. “And that’s exactly what a franchise offers; if you follow the system, you will probably be successful.”
McCabe isn’t alone as a female owner of a Mr. Handyman franchise. Several are in the top 10% of franchise owners, she said. And no matter the gender, they often support one another — especially with fellow veterans.
“I’m most likely to call another franchise owner who’s a veteran, because we speak the same language,” explained McCabe, a member of her local Chamber of Commerce’s veteran council. “And I tend to train the new franchise owners who are also veterans.”
On that note, for the past 14 years, Mr. Handyman of Northern Virginia has been the driving force behind annually choosing a local veteran to bless with free home repairs. Mostly done in one action-packed day, between 40 and 50 area businesses donate their materials and labor for veterans ranging from World War II to Operations Enduring and Iraqi Freedoms. All told, McCabe, her team and the other businesses have donated more than $750,000 worth of home construction and repair work.
“My first veteran was in a helicopter in Vietnam that got shot down, and he ended up in a wheelchair,” McCabe recalled. “When I asked him what he needed at home, he said, ‘Is there any way you can move my medicine cabinet down three inches?’ And I said, ‘Yes, sir!’”
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That can-do, team-focused attitude doesn’t surprise former Navy Petty Officer 3rd Class VR Small, now the founder and CEO of the Veteran Women’s Enterprise Center. Military women especially learn resilience and determination during their time in service; two qualities, Small says, come in handy as a business owner.
“You have to have that true grit to stay the course, and female entrepreneurs have that,” said Small, whose organization has a strategic partnership agreement with the SBA. “I really do believe in honor, courage and commitment like the Navy taught me, and those are all elements of a good business, to have those grounded values.”
McCabe hopes more female veterans will follow in her footsteps, especially as franchisees. Doing so helps cover any business owner’s weaknesses, like her with marketing.
“I’m about to set up a marketing plan for 2025 and already have a meeting set up with the franchisor to help with that process,” she said. “Franchising, in my opinion, is definitely the way to go.”
