BUSINESS DEVELOPMENT


Franchises Looking For Diversity by Hispanic Market Advisors


inoritie aounted for only five or six percent of all franchise own- ers (and managers of company- owned units) in 2000. A poll recently conduct- ed by the International Franchise Asso- ciation Educational Foundation, shows that over nineteen percent of franchis- es are now minority-owned. Hispanics are responsible for nearly six of those percentage points and other minorities make up the rest.


M


Why are businesses opening up and supporting minority-


owned franchises? There can be little doubt that mi-


noritie ave ade ignifiant inroad 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 Insti- tute which is tasked with increasing the nuber of inoritie wo find ue in franchising. This includes 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 franchis- ing 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 wit aor organiation 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 Mi- norityFran 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 and economical method of becoming


Continued on page 88. 84 HISPANIC NETWORK MAGAZINE Celebrating 19 Years of Diversity www.hnmagazine.com


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