Diversity in Franchising
Franchise organizations are eager to attract and develop franchisees that reflect the increasingly diverse demographics of the communities they serve. They understand that diversity, inclusion and equity among their franchisee ranks not only serves to strengthen their franchises but also to enhance their brands.
Are diverse franchise business owners really in such high demand? Absolutely. Recent data reveal that women and persons of color comprise 30 percent and 31 percent of all franchise owners respectively. While these rates are significantly higher than those among non-franchise businesses and continue to grow, consider some of the latest statistical projections taken from the U.S. Census Bureau.
- The U.S. is expected to become a majority-minority population by the year 2044 with racially and ethnically diverse inhabitants increasing to 56 percent of the total in 2060.
- Currently, over 50 percent of the nation's children under the age of 18 are part of a racial or ethnic minority group, and that figure is estimated to rise to 64 percent by the year 2060.
In a continued effort to make franchising equally accessible to qualified candidates of all genders, races and ethnic backgrounds, franchisors and funding partners often extend incentives to women and minority candidates in the form of discounts, additional marketing support, and financing assistance.
Are you ready to bring your unique talents to the franchising world? Contact us at Avizat Consulting to get started.