Black Enterprise: More Black Americans Are Becoming Franchise Owners And Fueling Small Business Growth

Minority franchise ownership is on the rise. A recent Black Enterprise article noted that 30.8 percent of franchises were minority-owned—up from 20.5 percent in 2007. And, according to International Franchise Association President & CEO Robert Cresanti, this upward trajectory reflects the benefits of the franchise model.

“The franchise business model has solidified its place in our economy as a stable job producer and opportunity engine and is uniquely situated to affect serious change in local communities by encouraging employment for those who need it most,” said Cresanti. “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, instituting a way of living that achieves a dream for millions of America.”

The study also found black franchise owners branching out from the restaurant and cleaning industries, finding expertise in a plethora of other areas including senior care, fitness, auto care and more. Black franchise ownership has also seen a 60 percent gain between 2007 and 2012.