FRANCHISE
Franchises Looking For Diversity by Hispanic Market Advisors
M
inorities accounted for only five or six percent of all franchise owners
(and managers of company- owned units) in 2000. A poll recently con- ducted by the International Franchise Association Educational Foundation, shows that over nineteen percent of franchises are now minority-owned. Hispanics are responsible for nearly six of those percentage points and other minorities make up the rest.
Why are businesses opening up and supporting minority-
owned franchises? There can be little doubt that mi-
norities have made significant inroads in franchising over the past decade. This quite a remarkable achievement, not only for the businesses involved, but also for the minorities who have
shown. Themselves to have consider- able entrepreneurial talents. A lot of credit has to go to the Inter-
national Franchise Association’s “Mi- norityFran” program. One branch of this organization, the IFA Educational Foundation sponsors a Diversity In- stitute which is tasked with increas- ing the number of minorities who find success in franchising. This in- cludes all aspects of the business such as franchisors, franchisees, suppliers, and employees. The Diversity Institute publishes educational information and provides programs to IFA members as well as prospective minority franchisees. It also conducts outreach activities to tell minority communities about fran- chising opportunities. MinorityFran was started in Feb-
ruary 2006 to provide a central place where minorities could look at oppor- tunities offered by businesses actively trying to grow the number of minority franchise owners. The initiative works with major organizations affiliated the IFA Diversity Institute, such as the National Urban League, Association of Small Business Development Cen- ters, Minority Business Development Agency, U.S Hispanic Chamber of Commerce, National Black MBA As- sociation and the Minority Business Development Agency. Only a few months after the Minor-
ityFran began, almost one hundred International Franchise Association- member companies enrolled in the new initiative. MinorityFran members came from nearly every industry-- from restaurants and beauty shops, to lawn care and pet services. MinorityFran tries to not only grow
the amount of minority-owned fran- chises, but also to convince all pros- pects that franchising is an intelligent
72 HISPANIC NETWORK MAGAZINE Celebrating 19 Years of Diversity
www.hnmagazine.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84