The International Franchise Association (IFA), the world’s leading advocate for franchising, hosted a panel today to highlight the wealth of opportunity franchising offers to minority communities. The panel, tilted Wealth Creation in Minority Communities Through Franchising, included several leaders from the minority community.
“Franchise businesses play a vital role in the U.S. economy, and can be an economic powerhouse within minority communities,” said IFA President and CEO Robert Cresanti. “IFA is proud today to host a panel discussion that will hopefully inspire more minority business owners. There is a true pathway to success through franchising, and we are committed to ensuring that significant gains are made within minority communities through this model.”
Panelists discussed why franchise businesses are economically and socially important for minority communities. Specifically, panelists highlighted how franchise businesses offer more financing opportunities, how they provide a built-in support system, and how the brand recognition and pre-developed business model helps first-time entrepreneurs get on their feet.
Panelists included:
- Dr. Charles Steele, Southern Christian Leadership Conference,
- Ed Braddy, Burger King franchise owner in Baltimore
- William Cunningham, Economist and Author, Creative Investment Research
“Growing up in inner-city Baltimore, I struggled to stay off the streets and out of trouble,” said Ed Braddy, Burger King franchise owner in Baltimore. “Fortunately, I was hired by Burger King in 1978, worked my way up the latter, and was able to open my own location. I now employ 27 employees, all of whom are from Baltimore and have had a run-in with the criminal justice system. Franchising has not only helped me to become successful, but it’s allowed me to make a real difference in my community.”