Minorities accounted for only five or six percent of all franchise owners (and managers of company- owned units) in 2000. A poll recently conducted 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 minorities 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 considerable entrepreneurial talents.
A lot of credit has to go to the International Franchise Association’s “MinorityFran” program. One branch of this organization, the IFA Educational Foundation sponsors a Diversity Institute which is tasked with increasing the number of minorities who find success in franchising. This includes all aspects of the business such as franchisors, franchisees, suppliers, and employees.
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