Diversity Friendly Franchises

Franchises are an important, and increasingly popular business form. When deciding to embark on an entrepreneurial endeavor, investing in a franchise is one type of business that should be considered. A franchise is legally defined as being the grand of a particular right, goodwill, brand name, property etc. to a person or entity as per an agreement for a consideration, according to www.legal-explanations.com. In layman’s terms, a franchise is a form of business in which a company that already has a successful product or service (franchisor) enters into a contractual relationship with a business (franchisee) that operates under that franchisors name, with its guidance and brand support, for a fee.

Examples of franchises are: fast food chains such as Burger King, McDonalds, and Pizza Hut; hotel chains such as Intercontinental or Marriott; or even convenience stories like your local 7-11.

As more franchisors continue to expand their reach into new markets, diversity has become increasingly important. Having a diversity friendly franchise is important for attracting new, talented franchisees, penetrating new markets, and ultimately being more competitive. So which franchises are considered to be diversity friendly?

Across the country many opportunities can be found in the world of franchising. Many franchisors are rolling out the red carpet when it comes to attracting and retaining diverse franchisees. The franchisors disperse special advertising campaigns, create training programs, and even offer financial incentives to attract a more diverse franchisee base, particularly one that includes underrepresented minority groups.

Here is a list of 5 franchises for minorities to consider if interested in franchising:

1. Blimpie
This company, known for its submarine sandwiches, embarked on an expansion initiative aimed at America’s inner-cities. The program is available to qualified entrepreneurs who currently reside or are willing to relocate to, and operate a Blimpie Subs and Salad franchise in, Urban Empowerment Zones and Enterprise Communities throughout the country.
http://www.restaurantfranchise.com/franchise/9729/BlimpieSubsSala.php

2. Choice Hotels International
This company, in the forefront of the Hotel Industry, offers many benefits to minorities buying into their franchises. According to Charles A. Ledsingler, the company’s President and CEO, “Success in today’s global business world will come to those companies that recognize that embracing diversity will open new doors of opportunity for all involved.” Examples of the initiatives that Choice has established are:

• Board Level Diversity Committee - This committee provides Board level oversight of Choice Hotels' diversity initiatives. The committee also reviews the company's diversity goals and achievement.

• Supplier Diversity Program - Choice Hotels is committed to diversifying its vendor base to include more minority and women owned vendors. We benefit from increased purchasing options as well as new ideas and processes from a diverse community of vendors.

• Minority Ownership Incentive - We are committed to creating a diverse franchise population through action, financial incentives and work with African American, Hispanic, and Native American individuals to facilitate the franchising process. We offer approved applicants up to $125,000 for new, converted or re-licensed midscale Choice brand hotels and up to $50,000 for Choice economy brands.
http://www.bison.com/showcase/choice_hotels_franchise_terms_and_conditions.html

 

3. Allied Dollar Store
According to the company’s website, when buying into a dollar store franchise there are no fees to pay, no monthly royalties to pay, and absolutely no restrictions (you own it 100%). This business is beneficial to those that may not have much operating experience because of the amount of input the franchisor gives to the owner. They work with you every step of the way; everything from the selection of the site to the negotiation of the lease, to the merchandising and planning of the store’s Grand Opening. With this kind of assistance the likelihood of failing is slimmer. They do all this for those who have absolutely no retail experience.
http://www.franchiseforsale.com/franchises/134160/allieddollarstores.php

4. Carvel Ice Cream
At Carvel, one of the most important aspects of owning a franchise is support of your operation. Carvel is considered diversity friendly because of the level of support provided in every aspect of business ownership. This includes:

• Field Operations support: Regular consultation visits, store review

• Franchise Resources support: Toll-free helpline, one stop provider of answers for any miscellaneous questions you may have, Dedicated trained team member

• Development Services support: Prototype plan for your particular location, Staff to answer any design and construction questions, detailed design and construction manual including equipment and design information

• Purchasing and National Account support: Discounted everyday service and products for the franchisee use, including pest control, contractors, insurance, credit card service

• Marketing support: Advertising Local store marketing, Product development, Public relations

• Training support: Field training, 10 days at the Carvel College of Ice Cream Knowledge, Onsite store opening assistance, Continuing education
http://www.americasbestfranchises.com/advertiser.asp?id=352&p=Categories%20-%20Franchise%20Opportunities%20for%20Minorities

 

5. 7-Eleven
7-Eleven has also publicly stated their goal of increasing the number of minorities buying into their franchise, and are willing to put their money where their mouth is. The company provides an opportunity for people with moderate financial resources and business experience to open their own convenience store. They go so far as to finance up to the full franchise fee and a portion of the inventory for qualified applicants. All you have to do is prove that there is a financial need.
http://www.franchiseinfomall.com/ID/7-Eleven/Best_Franchise_Companies_2.asp