FRANCHISE
the Best twenty Franchising Opportu- nities for African Americans. Today it boasts that approximately
twenty to twenty-five percent of Com- fort Keepers’ current franchises are owned by minorities and mentions MinorityFran specifically on its web- site as the program that has enabled it to achieve this number. Comfort Keepers created their
own program to help potential own- ers establish their businesses The unique benefits provided under their program are includes a one-year sub- scription to New Horizons Learning Center for franchise owner and staff as well as credit of $250 for initial or- der of business cards, letterhead and CK stationary. Credit of $500 for ini- tial order of CK promotional products and logo attire. These are benefits of- fered specifically for minorities. Service brands is another business
that enjoys a growing number of mi- nority franchisees. Alex Roberts, VP Franchise Development at Service Brands, credits their success to the fact that they actively recruit and pro- mote franchise opportunities through minority specific web-portals and use consultants who specialize in placing minorities in franchises. This is not an entirely altruistic en-
terprise as major U.S. companies have begun to notice the heretofore un- tapped source of capital in the minor- ity community. Because of the recent economic downturn, franchises in general suffered a fifteen percent drop in business. This was not enough to kill the industry but businesses look- ing to expand, saw no profit in build- ing more stores in already over-satu- rated markets. Minority communities, even though they lacked investment capital, offered a source of new cus- tomers. When a headquarters sells a fran-
chise to an individual who is going to open his store in a minority neighbor- hood it helps the national business to broaden its market into different cul- tures. For instance, Domino’s Pizza
74 HISPANIC NETWORK MAGAZINE
and Burger King came up with new advertising strategies to encourage Hispanic business ownership. Domino’s Pizza started a “Deliv-
ering the Dream” program, to help minorities fulfill their hope of being a owning a business. Burger King began a “Real People, Real Success” ad cam- paign, highlighting actual minority franchise owners, to grow the number of Hispanics in their organization. Be- sides advertising to attract minorities, these franchisors also reach out to con- sumers who are culturally diverse.
The Hispanic community The Hispanic middle class in Amer-
ica has been growing and prospering for the last fifteen years, thanks to a commitment to success. Franchises are also gaining an economic toe hold there. The chains that seem to be do- ing best are the ones that acknowledge the cultural and lingual differences of that sub-group. Commercials in Miami, Florida,
where many Cuban expatriates live, use Spanish terms and sayings, along with Hispanic actors to appeal to the local audience. McDonald’s features products that
are catered more to the Hispanic pop- ulation, such as café con leche, which allows the minority franchise owners in these areas to better meet the needs of the customers. It is interesting to note that the top-listed new franchises offering op- portunities to Hispanics. Fiesta Auto Insurance, Pronto Insurance, and El Pollo Loco use both English and/or commonly known Spanish words in their titles. It seems like a symbolic acknowledgement of the blend of two cultures that make up the Hispanic- American community. Many have welcomed the growth
of franchise opportunities for U.S. Hispanics with a new website, Bus-
caTuFranquicia.com as a bilingual marketplace for aspiring and exist- ing Hispanic entrepreneurs. It keeps an updated list of franchises for sale
Celebrating 19 Years of Diversity
at reduced costs to minorities. In ad- dition, seminars and conventions that are of interest to Hispanic entrepre- neurs are announced in both Spanish and English. Spanish language articles contain- ing information about how to become a successful business owner are also contained within the web walls. And finally, the website invites the reader to follow them on Facebook, Twitter, Linkedin, and subscribe to the RSS feed for up-to-the-minute news of in- terest to Hispanic Businessmen. Another website directed at non-
Hispanic franchisors is published completely in English but offers to provide translators who will turn English franchise advertisement into Spanish. This website also advertises franchise opportunities, apparently the same ones that are translated and listed elsewhere.
Benefits to Individuals and Communities
According to the Small Business Administration, franchises create 300,000 new jobs annually. Every time a minority franchise owner starts a business in a neighborhood, it creates employment for the members of the community. Anyone who owns their own fran-
chise business can also better meet their own lifestyle needs and attain their own personal and professional goals as well. Surveys show that His- panics are very family oriented. When Hispanics buy a franchise, it gives them the guidance they need to start and run a successful, family business. Minority-owned franchises offer
many benefits to the individuals, com- munities and businesses involved. Be- cause of the hard work on both sides, the chasm between American business and minority businessmen is closing. For more information, please visit
www.HispanicMarketAdvisors.com. Source:
DiversityBusiness.com
www.hnmagazine.com
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