Initiative aims to create 100 black-owned franchises by end of 2023
Denny’s Corp. partners with the Multicultural Foodservice & Hospital Alliance’s Pathways to Black Franchise Ownership program to help MFHA establish 100 black-owned franchises by the end of 2023. The overarching goal of the Pathways to Black Franchise Ownership program is to generate greater wealth among black Americans by enabling them to own and operate highly profitable franchises.
The MFHA says black people make up 13% of the US population and nearly 10% of food service managers, while US Census Bureau statistics show that black Americans currently make up only 8% of franchisees. This slowly changed. The United States Census Bureau Annual business survey (ABS) reports that the number of Black American-owned businesses increased from 2017 to 2019 across all sectors of the US economy.
The franchise industry has made great strides in promoting black entrepreneurship and raising awareness of black franchise ownership. The International Franchise Association, for example, formed the Black Franchise Leadership Council and created the Open for Opportunity Roadshow to promote diversity in franchising. Yum! Brands and the University of Louisville have partnered to create the Center for Global Franchise Excellence, which teaches women and underrepresented people of color about franchising.
The MFHA and Denny’s collaboration aims to provide specialized training, coaching, mentoring and other support to Black people so they can become single-unit or multi-unit franchisees. On its website, the MHFA stresses that successful business ownership is a crucial ingredient in achieving racial and social justice.
Committed to the Black Franchise Ownership Program
A press release from Denny’s says that by partnering with the Black Franchise Ownership program, the restaurant-style restaurant chain is demonstrating its commitment to inclusion and diversity. Since 1993, Denny’s has invested more than $2 billion in underrepresented vendors, including hiring minority-owned small business operators and entrepreneurs as consultants, according to the press release.
Also in the release, Denny’s CEO John Miller said, “Diversity, equity and inclusion are key elements of our business strategy and this includes every part of our organization, from our Board of Directors to our association of franchisees”. Miller adds that “the expanded partnership with the MFHA will help close the ownership gap for Black business owners and bring new faces and new thinking to Denny’s” and create “opportunities for Black business owners who are historically under-represented in the restaurant industry”.
MFHA hails Denny’s support of black franchise ownership program
Gerry Fernandez, Founder and President of MFHA, said Denny’s support of the Black Franchise Ownership Program can have “a lasting impact by helping Black entrepreneurs achieve their dream of owning their own restaurant, uplifting their communities and creating wealth for their families and their future. generations. »
The Pathways to Black Franchise Ownership program was launched in 2020 with the goal of creating 100 black-owned franchises by the end of next year. The MFHA is working to expand the program with the help of the International Franchise Association, the National Restaurant Association and the National Restaurant Association Education Foundation.
As of March 30, Denny’s Corp. was the franchisor and operator of 1,643 franchised, licensed and company-owned restaurants, including 153 non-U.S. restaurants in Canada, Costa Rica, El Salvador, Guam, Guatemala, Honduras, Indonesia, Mexico , in New Zealand, the Philippines, Puerto Rico, the United Arab Emirates and the United Kingdom, according to information provided by the company. For 25 years, Denny’s has worked with MFHA, which was founded in 1996.
Presentation of the MFHA
The MFHA and its Pathways to MFHA is a 501(c)(3) organization dedicated to promoting diversity, equity, inclusion, and economic prosperity for Black people in the restaurant, restaurants and hotels. It has a group of banks, foundations, industry partners and private equity firms that support the recruitment, development, training and success of black franchisees.
The Pathways to Black Franchise Ownership program is a flagship initiative of the MFHA. This was made possible by a $2.5 million commitment from title sponsor PepsiCo.
The MFHA is a leading resource for businesses of all sizes who want to improve their diversity, equity and inclusion. MFHA members have access to various products and services such as workshops, webinars, research and events. The MFHA is affiliated with the National Restaurant Association Educational Foundation.