FRANCHISED BUSINESS OWNERSHIP.

Position:News
 
FREE EXCERPT

A recent IFA Foundation study revealed that the number of franchise businesses owned by women and minority groups has increased drastically in recent years. Womenowned franchises have risen by 50 percent, per recently released data from the 2012 Census. The Foundation study notes that female ownership among franchises increased by 10.1 percentage points from 20.5 percent in 2007 to 30.6 percent in 2012. IFA Foundation President Mary Heitman told Moneyish for an April 19 article that she suspects increased awareness is a big piece of the puzzle. "So many people think these (companies) are simply corporate entities, and for a long time they had no idea there was an opportunity to be a small business owner by coming under a brand and becoming a franchisee," she said. Black Enterprise also highlighted the study in April, quoting IFA President and CEO Robert Cresanti, CFE. The study revealed that 30.8 percent of franchise businesses were owned by minorities in 2012, up from 20.5 percent in 2007, while franchises owned by African-Americans grew 66 percent in the five-year period. "This report demonstrates how the franchise business model is working to meet the future challenges of a rapidly growing and diversifying franchise sector with shifting demographics," Cresanti said.

Father-daughter franchisees John Prinkey and Kate Cusato have opened a new Minuteman Press International location in Frederick, Md. The duo purchased the Frederick location from a family who owned and operated the printing franchise for 30 years. Cusato spoke about the advantages of working in a family franchise with her dad. "Knowing that we only want what is best for the business, and each other, makes things far less stressful," she said.

Subway has taken efforts to reduce waste across its 26,000 U.S. restaurants, including implementing a bag-optional policy, using recycled materials for many of its products and stopping the use of pre-portioned servings in paper trays, which is estimated to eliminate 5.6 million pounds of packaging.

HRI Holdings has acquired Colorado-based Delta Disaster Services. HRI Holdings, the parent company of Chem-Dry and N-Hance Wood Refinishing, has set a goal to add 500 Delta franchise licenses during the next five years.

Monster Tree Service is reporting 28 new franchise agreements since the start of 2018, including with the following franchisees:

* Marcus Roach (Austin, Texas)

* Richard and Christina Pristera (Atlanta, Ga.)

* Tom Principato...

To continue reading

FREE SIGN UP