TITANS OF FRANCHISING
Why owning a franchise is for everyone regardless of race, education, gender, or geography by Rich LeBrun, Consultant, The Franchise Consulting Company
O
ne of the great things about owning a franchise is that it is available to everyone regardless of race, education, gender, or geography. That’s right everyone! The criteria that determine if you would be a good business owner or not has nothing to do with race, education, gender, etc. The trend of globalization has effects towards small businesses. It is evolving to cater with the modern changes. The notion of a certain ethnicity running only a certain kind of business is long gone. Approximately 19% of
U.S. employer businesses were minority-owned providing millions of jobs. This shows an increase in business ownership for small businesses across all the ethnic groups. As of now, the pie in business ownership consists of 71.8% white, 11.6% Hispanic, 9.6% Asian, 4.2% African American and 2.8% for remaining ethnicities. To understand this better, let me explain what the franchise model is and how it came
AS OF NOW, THE PIE IN BUSINESS OWNERSHIP CONSISTS OF 71.8% WHITE, 11.6% HISPANIC, 9.6% ASIAN, 4.2% AFRICAN AMERICAN AND 2.8% FOR REMAINING ETHNICITIES. 24
FEBRUARY 2022 | WWW.FRANCHISEJOURNAL.COM
about. It all began back in the boardroom. Key executives who started the franchise had a decision to make when they launched the company. “Do we become a franchise or not?” Companies like Starbucks decided not to go the way of franchising. Why? Because they wanted full control over staff, capital, and pace of distribution.
