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America's top-rated and fastest-growing tax and accounting franchise - serving the fastest-growing segment of the economy - America's small business owners. Initial training. Specialized software. On-going support.
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CMIT SOLUTIONS is a technology services company that utilizes a franchise model to work with small- and medium-sized businesses to provide access to trusted local business partners who offer solutions through the use of technology.
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LIQUID CAPITAL is an international network of franchise owners who help small- and medium-sized businesses grow and succeed through factoring - a specialized financial service providing immediate funding on credit-worthy account receivables.
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HouseMaster is the recognized authority on everything home inspection, helping entrepreneurs from all educational and business backgrounds realize their dreams by collectively performing over 2 million inspections over the past 33 years.
50 Top Franchises for Minorities (2013)
USA Today's Top 50 Franchises for Minorities in 2013
Friday, October 25, 2013
By Rob Bond and C. Everett Wallace
The National Minority Franchising Initiative (NMFI) recently completed its seventh annual survey to analyze the progress of minorities within the franchising community. From over 400 detailed responses, two overarching conclusions can be drawn. First, the overall percentage of minority participation in the franchise industry continues to grow. Second, while ownership among African-Americans has increased, there have been substantial increases in the number of Hispanics, Asian-Americans and Other (generally Indian and Middle Eastern) minorities who own franchises. Although there is no conclusive way to interpret this increase from the returned questionnaires, our sense is that these groups are attracted to the business by three primary factors:
- Technical and/or language skills are not required in many of the industries highlighted
- The cost of entry is generally modest, and
- Franchisor management has specifically prioritized the aggressive recruitment and on-going support of these groups.
The long-term key here is on-going support.
The questionnaire, designed by NMFI (a subsidiary of the World Franchising Network), asked franchisors two primary questions:
- List the minority (African-American, Asian-American, Hispanic, South Asian, etc.) participation among franchised and company-owned units, and
- Indicate the minority representation among senior management.
From the 400+ questionnaires returned, we selected 50 companies that are clear leaders in the industry. The subsequent list of 50 Top Franchises for Minorities is an excellent starting point in your search for an optimal franchise that meets your needs, experience and financial capabilities. While the percentage of minority participation is certainly a factor in the selection process, your primary focus should be on a company’s reputation within the marketplace, their on-going support of their franchisees, their financial stability, and whether you can make a return on your investment (both financial and time committed) as a franchisee. The single most important factor, however, though it is difficult to determine, is the success and happiness among the existing franchisees, particularly the minority segment. Among the 50 franchisors selected, we thought it might be helpful to highlight several representative companies that have exceptional records in the minority makeup of their franchised operations and/or senior management.
| Company | Total Units | Minority % | Management % | Industry |
|---|---|---|---|---|
| 7-Eleven | 7,761 | 57% | 19% | Convenience |
| Anago Cleaning Systems | 2,431 | 89% | 50% | Maintenance |
| Charleys Philly Steaks | 507 | 66% | 43% | Food-Service |
| Church's Chicken | 1,205 | 78% | 44% | Food-Service |
| Coverall North America | 9,134 | 86% | 8% | Maintenance |
| Denny's | 1,683 | 47% | NR | Food-Service |
| Estrella Insurance | 62 | 100% | 100% | Insurance |
| Eye Level Learning Centers | 191 | 74% | 69% | Child Learning |
| Fiesta Auto Insurance | 151 | 85% | 33% | Insurance |
| Flame Broiler, The | 142 | 97% | 100% | Food-Service |
| Genghis Grill | 111 | 46% | 100% | Food-Service |
| Golden Krust Bakery | 107 | 100% | 90% | Food-Service |
| Jan-Pro | 10,120 | 85% | 14% | Maintenance |
| Jani-King International | 10,000 | 60% | 20% | Maintenance |
| Kiddie Academy | 115 | 51% | NR | Child Learning |
| Manchu Wok | 140 | 64% | 38% | Food-Service |
| Pronto Insurance | 124 | 97% | 100% | Insurance |
| Regal Nails | 874 | 99% | 83% | Beauty Services |
| Vanguard Cleaning Systems | 2,794 | 88% | 33% | Maintenance |
If you are considering investing in a franchise, the NMFI (WorldFranchising.com) has various resources (detailed franchisor profiles, links, access to publications, FDDs, Item 19s, etc.) that could be of assistance. Our advice is to always do your homework.
