This is the second annual survey to be placed in the USA Today – Franchising Today section of the newspaper. The article and listing can be found at www.worldfranchising.com/download/Top50_USA-Today.pdf.
The NMFI picked 50 franchisors from over 300 companies requesting evaluation for inclusion in the article. There was no cost to participate in the survey. The only constraint was that franchisors had to have more than 50 operating units. Each participating franchisor was required to submit its most recent Franchise Disclosure Document (FDD) and the marketing package that is sent to prospective franchisees, as well as a completed questionnaire. The questionnaire noted the number (both absolute and as a percentage of the total number) of operating units owned by minorities, as well as the number of minorities in senior management that earned over $60,000 per year.
Final selection was a function of many factors that included historical performance, brand identification, market dynamics, franchisee satisfaction, the level of initial training and on-going support and financial stability, as well as the results of the questionnaire. In many cases, actual franchisees were contacted to confirm our initial observations. The companies were not ranked within the Top 50.
According to Rob Bond, co-founder of the NMFI, “It is both surprising and rewarding to see how many companies not only talk the talk, but more importantly walk the walk. There are a number of companies that actually have a majority of minority franchisees within their system. Many others have a significant number of minorities within their senior management. The times, they definitely are a-changin’. This list is a great honor for those franchise systems selected. The analysis was rigorous and entirely objective. We are unaware of any other study that has published a similarly rigorous analysis.”
“Our feeling,” according to co-founder Everett Wallace, “is that this survey provides a solid starting point for prospective franchisees who want to focus on those systems that actively recruit and support minorities within their systems.” For a more complete list of franchise systems that wish to increase their minority representation, prospective franchises should go to www.MinorityFranchising.com. The site lists over 500 companies interested in recruiting minorities, as well as other resources that are essential to the evaluation process.
The National Minority Franchising Initiative will conduct a similar survey next summer. Those franchisors not selected to be in this year’s survey are encouraged to contact the NMFI in June of 2009 with regard to the submission of materials. The National Minority Franchising Initiative (NMFI) was created in 2000 to level the playing field and meet the needs of a largely under-represented market. The NMFI program represents an effective and cost-efficient tool for franchisors to increase minority representation within their systems.
Founded in 1993, Denver-based PostNet is the largest and fastest-growing privately held company in the postal and business services industry. Locally owned and operated PostNet locations offer digital copying and printing services; binding and finishing; and digital services including graphic design and computer rental. They also offer shipping with UPS, FedEx, DHL and the U.S. Postal Service. PostNet has more than 850 locations worldwide, including more than 400 in the United States.