Franchising Today, October 2013
50 Top Franchises for Minorities
The National Minority Franchising Initiative (NMFI) recently completed its seventh annual survey to analyze the progress of minorities within the franchising community. From over 400 detailed responses,two overarching conclusions can be drawn. First, the overall percentage of minority participation in the franchise industry continues to grow. Second, while ownership among African-Americans has increased, there have been substantial increases in the number of Hispanics, Asian-Americans and Other (generally Indian and Middle Eastern) minorities who own franchises. Although there is no conclusive way to interpret this increase from the returned questionnaires, our sense is that these groups are attracted to the business by three primary factors: 1) Technical and/or language skills are not required in many of the industries highlighted; 2) The cost of entry is generally modest; and 3) Franchisor management has specifically prioritized the aggressive recruitment and on-going support of these groups. The long-term key here is on-going support.
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