Black Franchise Business has become a prime concern in the United States. The number of black franchise owners is really less in the States. In fact, the Pathways to Black Franchising program is chiefly aimed at this issue. It aims at empowering African American entrepreneurs to handle high-performing business franchises. This in fact will help in driving more wealth into the black community.
However, this aim of promoting the Black Franchise Business received a boost recently from Denny’s. We know that Deeny’s is a large chain of table service diner-style restaurants. In fact, it has around 1700 restaurants in different countries. Therefore, it goes without saying that Denny’s is a business magnet in the restaurant business.
Recently, it was unveiled that they aim to assist MFHA to reach their goal of creating 100 Black-owned franchises by 2023. Now, this is bound to be a great boost in the promotion of the Black Franchise Business. Read the article to know more about the initiative of Denny’s.
Boosting African-American Franchise Business
As has been already mentioned that the Pathways to Black Franchising program in 2020 with a particular aim. It aims at 100 Black-owned franchises by 2023. Since then attempts have been made to expand the horizons of this program. The MFHA has been particularly active in this aspect. In fact, it has already joined hands with the National Restaurant Association Education Foundation, the International Franchise Association and the National Restaurant Association. They are working collectively to expand the program in the widest possible way.
Now, did the Black Franchise Business really need that attention? Well, at least the U.S. Census Bureau and the International Franchise Association advocated such actions. In fact, a study conducted by the agencies has shown that African Americans constitute only 8% of franchise business owners. Therefore, the Black Franchise Business really needed special attention.
As has already been mentioned, the MFHA has been particularly active in this regard. Now they are joined by the Denny’s. In fact, this has been a welcome move on the part of Denny’s. A restaurant chain, as huge as Denny’s can really take up a leading role to promote the Black Franchise Business on a global basis.
In fact, they have joined hands with the MFHA to provide specialised training, coaching and mentoring to the participating Black entrepreneurs. They are hopeful that all these will help those entrepreneurs to open both single and multi-unit franchise businesses.
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What The MFHA and Denny’s Have To Say
We know that the MFHA and Denny’s have been working together for a long time. In fact, the CEO of Denny’s, John Miller seemed excited to join hands in promoting the Black Franchise Business. He claimed that the renowned restaurant chain works with the ideals of diversity, equity and inclusion. Therefore, he is hopeful that along with the MFHA, they will be able to “close the ownership gap for Black business owners”.
In fact, he also hopes that this will also help to bring in new faces and new ideas to Denny’s. In fact, Gerry Fernandez, the owner and founder of the MHFA also sounded excited about Denny’s joining them to promote Black Franchise Business. He is also hopeful that together they would be able to uplift the black community in the field of the franchise business.
He further claimed that the greatest barriers for Black men and women in the field of business are training and access to capital. However, he claimed that the restaurant business can effectively solve these issues.
Conclusion Lines
Gerry Fernandez rightly stated that ownership of the business is an important pillar of racial and social justice. In fact, the Black community makes up around 13% of the total population in the U.S. However, they constitute only 8% of franchise business owners. Therefore, the Black Franchise Business really needs a boost. Denny’s joining this noble cause seems to be the perfect addition.
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