FOR IMMEDIATE RELEASE:
National Minority Franchising Initiative / World Franchising Network
1814 Franklin Street, Suite 603
Oakland, CA 94612
(800) 841-0873 / (510) 839-5471 / Fax: (510) 839-2104
NMFI selects 50 Top Franchises for Minorities
The National Minority Franchising Initiative (NMFI) has compiled its annual list of the “50 Top Franchises for Minorities.” The results were featured in the November 5th issue of USA TODAY in the Franchising Today section. A copy of the article with the list can be found here. For a list of the companies only, please click here.
The NMFI selected 50 franchisors from hundreds of companies requesting evaluation for inclusion in the article. There was no cost to participate in the survey. The only constraint was that franchisors had to have in excess of 50 operating units. Each participating franchisor was required to submit its most recent Franchise Disclosure Document (FDD) and the marketing package that is sent to prospective franchisees, as well as a completed questionnaire. The questionnaire noted the number (both absolute and as a percentage of the total number) of operating units owned by minorities, as well as the number of minorities in senior management that earned over $60,000 per year. (For a copy of the questionnaire, click here.)
“We are extremely pleased to see that, in short ten years, minority representation has increased remarkably in the franchising industry,” said NMFI Founder Rob Bond. “Whereas minorities may have accounted for only 5 or 6% of total franchisees in 2000, the consensus is that today they account for well in excess of 15%. This is quite a remarkable testament not only to the industry’s reaching out to minorities, but to the underlying values and entrepreneurial talents that minorities contribute.”
For a more complete list of franchise systems that wish to increase their minority representation, please go to MinorityFranchising.com. The site lists over 500 companies committed to recruiting and supporting minorities, as well as resources that are essential to the evaluation process. The site represents an effective and cost-efficient tool for franchisors to increase minority representation within their systems. The National Minority Franchising Initiative (NMFI) was a program launched by World Franchising Network (WFN) in 2000 to level the playing field and meet the needs of a largely under-represented market.
The World Franchising Network, which manages the MinorityFranchising.com website, also has 15 other websites focusing on franchising.
Below is a copy of the top 50 in 2010 list: