Group Effort

Fortunately, organizations are creating a number of initiatives to spread the word that franchising is affordable and accessible to minorities. These initiatives include:

• the International Franchise Association's (IFA) Emerging Markets program, in which franchise delegations visit cities nationwide to offer seminars explaining the pros and cons of franchising, and available financing and business-development assistance.

• the National Minority Franchise Initiative's Web site, which features a database of franchisors interested in minority franchisees. The site also has details on a series of full-day "Invest In Your Future" seminars held nationwide, and access to Bond's Minority Franchise Guide, a book with detailed profiles of more than 400 franchisors promoting to minorities.

• the Minority Business Development Agency's Web site, which offers a section on franchising.

• the Pepsico Foundation's Franchising Entrepreneurship program, created in conjunction with the IFA to introduce the idea of franchising to low-income and minority high school and college students.

This article was originally published in the November 2000 print edition of Entrepreneur with the headline: Group Effort.