Franchising IS Possible for Recent College Grads. Buying a franchise starts right here! Interested in buying a franchise in 2021? T he U.S. is home to roughly 2.5 million Black-owned businesses, according to the Census Bureau. The incentives offered by DiversityFran franchisors typically fall into three groups: IFA also offers DiversityFran seminars and trainings to clarify legal issues, funding options, and other basics for prospective franchisees. Franchise Business Review’s annual Top 200 Franchises ranking highlights the best franchise opportunities based on owner satisfaction. Womens Franchises in Virginia. Many franchises reduce their initial costs by as much as 50%, saving DiversityFran participants thousands on start-up costs. The focus of this program, which was based on IFA’s highly successful program encouraging veterans to invest in franchise businesses, is on members of ethnic minorities — Asian American, Hispanic, African-American, and Native American individuals. In spite of the many challenges faced by the franchise … Each profile provides the essential details to get started, including; investment financials, training, support, structure, & location to discover the best franchise opportunity fit for you. They are very helpful resources that offer valuable assets including grants, seminars, literature, consulting, and professional networking opportunities. DiversityFran participants are eligible for in-house franchising with some franchisors, often in combination with other kinds of discounts such as reduced royalty fees for the first year. ServiceMaster Restore. A number of franchise brands are particularly active in their efforts to recruit minority franchisees. Xpresso Delight. For almost five decades, Alphagraphics... A Leader in Environmentally-Friendly Dry Cleaning Since 2000! Work full or part … These hot franchises are in-demand to put you on the road to success. There were 555,638 Asian-owned businesses, with 23.9% (132,698) in the accommodation and food services sector. Open an Alphagraphics franchise and you'll join a system with a long history of success and, one which has a large global presence. The number of minority franchise owners is up 10 percent from the previous mark just five years before. Minority-owned businesses account for over 15% of all businesses in the U.S., producing $591 billion in revenues each year and employing 5.9 million workers. Miracle-Ear. FranServe. They’ve partnered over the years with a range of nonprofit agencies, chambers of commerce, and other organizations to provide support to ethnically diverse franchisees. About one-third of minority-owned businesses (32%) have had to cut employee hours, and nearly one-quarter (24%) have temporarily closed their doors. This field is for validation purposes and should be left unchanged. On account of a still-languid economy, however, many franchisors' approach has changed significantly in recent years. According to Rob Bond, the World Franchising Network president, franchises that are creating programs for minority recruitment are playing a great role in ensuring that the minorities embrace franchising. The UPS Store is proud to support and contribute to this growth in minority-owned businesses. What You'll Do. The object is not to identify specific franchises that might be good for Asian Americans or Native Americans, but rather to respond to the historic factors that lead to the difference in business ownership between whites and non-whites in the U.S. today. Asian-owned firms had the largest receipts ($814.8 billion) among minority groups. Unfortunately, the CARES Act from last March did not benefit as many minority-owned companies as non-minority ones. There are certain advantages to being certified as a minority-owned business. Participating franchisors are encouraged to work actively to get the word out about the program, providing speakers for seminars and actively recruiting ethnically diverse franchisees. For a selection of companies committed to diversity and multiculturalism, please browse our Minority Franchises section and take the first steps toward franchise ownership. Discounts on initial franchise fees are the most common choice. Brian Luscomb, a spokesman for Jack in the Box, says more than half of the brand’s 100 franchisees were born in other countries, and a number of them were referred by existing franchisees. Check our MinorityFran page to see some of the franchises that are involved in the program. … . ServiceMaster Clean. Minority investors in the Warriors are "gearing up to sell a five percent stake in the team amid losses incurred during the pandemic," according to sources cited by Josh Kosman of the N.Y. POST. When it comes to states, Ohio is an example of one that has its own Minority Business Enterprise (MBE) certification process . Ninety-six percent of Black-owned businesses were nonemployer firms, compared to 80% of all small businesses. Florida’s largest metropolitan area is also one of the best places in the country for black business owners. The Print Industry is a $640 Billion Industry and experiences a 6.8% growth annually. Many franchises incentivize minorities to join their systems. Kabbage - Line of credit. Operating on a similar model to the Pearle Vision center, this hearing-aid manufacturer … As a FranServe franchisee, earn money helping people buy a franchise. Alphagraphics. The Print Industry is a $640 Billion Industry and experiences a 6.8% growth annually. Xpresso Delight machines brew high-end, cafe-quality coffee drinks … As the U.S. grows increasingly diverse, being able to reflect that diversity is a plus for any company. Submission dates: The 2021 submission deadline was July 31, 2020, and … This essentially gives franchisees a longer period of time to build up to higher profits with a smaller investment. How Does That Franchise Handle Complaints? Financing assistance is another popular choice. There are many non-profit Black and Minority business organizations that aim to be of assistance to African American business owners. Franchisors may also choose to join DiversityFran in order to extend their franchises into underserved communities. As president of the World Franchising Network Rob Bond puts it, these franchises "grease the skids" on behalf of minority candidates because they see value in promoting diversity among their franchisees. When looking specifically at franchise businesses, though, the IFA says that more than 20% of all franchise businesses in the U.S. are minority-owned. Certifications. This is the least common option, according to the IFA, but it can include seminars or mentorship support. Our Women's Franchises section contains a directory of franchises that are making a strong effort to attract women, from seasoned professionals to mom entrepreneurs interested in home-based businesses. Cartier Women’s Initiative. The company made the 50 Top Franchises for Minorities list from the National Minority Franchising Initiative in … In order to address these concerns and work toward equal representation in business ownership, the DiversityFran program helps franchisors make business ownership more accessible for these underrepresented groups. Numerous franchises are thereby offering incentives to minority groups in order to reflect the U.S population’s diverse nature. • Entrepreneur Magazine Top 500 Franchise 2013 – 2020 • Entrepreneur Magazine Top 150 for Veterans 2019 – 2020 • Franchise Business Review Top 50 Franchise 2017 – 2020 • Inc. 500I5000 for 6 Years 2011 – 2020 • Franchise Times Top 200 Franchises 2016 – 2020 • Franchise Gator Top 100 Franchise … The MinorityFran program was designed to help. Another eye-popping statistic revealed that 30.8% franchise businesses in 2012 were owned by minorities, up from 20.5% in 2007. Minority-owned businesses account for over 15% of all businesses in the U.S., producing $591 billion in revenues each year and employing 5.9 million workers. President-elect Joe Biden said his administration will prioritize businesses owned by minority and female Americans, which sparked backlash, with some calling it "discrimination." 2020 Franchise 500 Ranking After a year unlike any other, we’re proud to present Entrepreneur’s 2021 Franchise 500® ranking. For food-related franchise businesses in particular, the number jumps to 21.5%. Minorities own an estimated 29 percent of classifiable businesses, which are growing at twice the rate of non-minority businesses. Open an Alphagraphics franchise and you'll join a ... Lapels Dry Cleaning. Is McDonald’s seeking women and minority Owner/Operators? Development support above and beyond the usual franchisee support. Any franchisor can participate in the program, and more than 100 different franchises have signed up. The IFA points out that diversity is good for business. Black or African Americans owned 124,004 firms in 2017 with 32.0% (39,714) of these firms in the healthcare and social services industry. You’ll be impressed by the range of offerings. Government & Non-Profit Resources for Minority-Owned Businesses. Minority Business Development Agency (MBDA) Established in 1969, the MBDA was established as part of the U.S. Department of Commerce and is solely committed to helping minority business owners. When looking specifically at franchise businesses, though, the IFA says that more than 20% of all franchise businesses in the U.S. are minority … The economic power of minorities in franchising has been rising steadily in the past several decades. Franchises for Minorities in Washington. Lapels® Dry Cleaning has been listed in Entrepreneur Magazine’s Top 500 Franchises for the past 20 years. For … BOSTON, Feb. 11, 2021 /PRNewswire/ -- Fitness industry veteran Micah Logan has partnered with Performance Food Centers to enhance his innovative concept in personal training – the "Micro Personal Training" Studio.. Logan was sought out by established food service company Performance Food Centers (PFC), known for their dedication to wellness and nutrition. Many franchises are actively seeking female business owners. Candidates who have successfully operated multiple businesses may be suited to operating several McDonald’s franchises. One reason might be the MinorityFran program, debuted by the International Franchise Association in 2006 to increase the diversity of franchise ownership.The program was renamed “DiversityFran” but is often still found under the original name. 24.00 - 99.00% 560. Financing up to $250,000 available within a few days. A study commissioned by the IFA found that members of ethnic minorities often had less information about franchise business opportunities, were less likely to know other franchise business owners, and sometimes also had language or other barriers. Of the 11,710,360 businesses in the United States in April 2020, 637,769 were Black owned. While 8(a) businesses do not necessarily need to be minority-owned businesses, all companies with 51% minority ownership are likely eligible according to federal regulations.
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