ATLANTA (Nov. 10, 2010) – FOCUS Brands has been selected by The National Minority Franchising Initiative (NMFI) as one of the “50 Top Franchises for Minorities.” The NMFI has compiled its annual list and the results were featured in the
November 5th issue of USA TODAY in the Franchising Today section.
“It is truly an honor to be named to NMFI’s list of top franshises for minorities,” said Russ Umphenour, CEO of FOCUS Brands. “We constantly strive to promote and foster diversity within our unique brands, and this recognition is a wonderful validation that our efforts are paying off.”
“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.”
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.
The World Franchising Network, which manages the www.MinorityFranchising.com website, also has 15 other websites focusing on franchising.