Denny’s recently announced a commitment to the Pathways to Black Franchise Ownership program created by the Multicultural Foodservice & Hospitality Alliance (MFHA).
Denny’s is committed to the black franchise business ownership program
The goal of the Pathways to Black Franchising program is to make systemic change to drive greater wealth for the black community by empowering African American entrepreneurs to operate high-performing franchise businesses. Denny’s aims to help MFHA achieve its goal of creating 100 black-owned franchises by 2023, with the two entities already enjoying a successful 25-year alliance.
Increased ownership of the African American franchise
The Pathways to Black Franchise Ownership program was launched in 2020 with the aforementioned goal of creating 100 black franchise ownership by the end of 2023. The MFHA has already been working closely with the National Restaurant Association, the National Restaurant Association Education Foundation (NRAEF) and the International Franchise Association to expand the program.
The U.S. Census Bureau and the International Franchise Association also conducted a study that found that African Americans make up only 8% of franchise business owners. Denny’s and MFHA hope to close this gap by providing participants with specialized training, coaching and mentoring, as well as other support, to help black entrepreneurs open individual and multi-unit franchise businesses.
Help black entrepreneurs achieve their dreams
Denny’s CEO John Miller said of his company’s expanded partnership with MFHA: “At Denny’s, diversity, equity and inclusion are key components of our business strategy and this includes all parties. from our organization, from our board of directors to our franchisee association .. Our expanded partnership with MFHA will help close the ownership gap for black business owners and bring new faces and new ideas to Denny’s. honored to be able to create more opportunities for black business owners who are historically underrepresented in the catering industry. “
MFHA founder and president Gerry Fernandez added: “MFHA is excited to welcome Denny’s to the Pathways program. Together, we can make a lasting impact by helping black entrepreneurs achieve their dream of owning their own restaurant.” raising their communities and creating wealth for their families and future generations. “
On the MFHA website, they explain: “Today, black Americans make up only 8 percent of franchise business owners, but they make up 13 percent of the population and almost 10 percent of service managers. Pathways addresses this disparity through training and access to capital, the two biggest barriers for women and black men who want to have profitable businesses.
“Training and access to capital are the biggest barriers for black women and men who want to have their own business. Through Pathways, the restaurant industry has the opportunity to create tangible lasting change. in the communities they serve by helping to increase black property Ownership is a critical element of racial and social justice, and economic mobility cannot be achieved until black Americans have a fair chance to participate in prosperity. shared of the nation “.
Roads to black franchise ownership
The Pathways to Black Franchise Ownership program identifies, funds, and prepares aspiring black entrepreneurs to own and operate high-performance restaurants. It also helps companies grow their brands and create wealth for the black community by adopting a social equity ownership model.
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