IFA Hosts Panel Discussion Emphasizing Opportunities Available For Minorities in Franchising
FOR IMMEDIATE RELEASE
IFA Hosts Panel Discussion Emphasizing Opportunities Available for Minorities in Franchising
Nearly 21 percent of franchises are minority-owned with room for growth
[Washington, D.C.] (October 26, 2017) – The International Franchise Association (IFA), the world’s leading advocate for franchising, hosted a panel today to highlight the wealth of opportunity franchising offers to minority communities. The panel, tilted Wealth Creation in Minority Communities Through Franchising, included several leaders from the minority community.
“Franchise businesses play a vital role in the U.S. economy, and can be an economic powerhouse within minority communities,” said IFA President and CEO Robert Cresanti. “IFA is proud today to host a panel discussion that will hopefully inspire more minority business owners. There is a true pathway to success through franchising, and we are committed to ensuring that significant gains are made within minority communities through this model.”
Panelists discussed why franchise businesses are economically and socially important for minority communities. Specifically, panelists highlighted how franchise businesses offer more financing opportunities, how they provide a built-in support system, and how the brand recognition and pre-developed business model helps first-time entrepreneurs get on their feet.
- Dr. Charles Steele, Southern Christian Leadership Conference,
- Ed Braddy, Burger King franchise owner in Baltimore
- William Cunningham, Economist and Author, Creative Investment Research
“Growing up in inner-city Baltimore, I struggled to stay off the streets and out of trouble,” said Ed Braddy, Burger King franchise owner in Baltimore. “Fortunately, I was hired by Burger King in 1978, worked my way up the latter, and was able to open my own location. I now employ 27 employees, all of whom are from Baltimore and have had a run-in with the criminal justice system. Franchising has not only helped me to become successful, but it’s allowed me to make a real difference in my community.”
About the International Franchise Association
Celebrating 56 years of excellence, education and advocacy, the International Franchise Association is the world's oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees and companies that support the industry in marketing, law, technology and business development.