Recently, the National Minority Franchising Initiative (NMFI) released its list of the Top 25 Franchises for Hispanics which took into account a number of factors including the amount of Hispanic-owned franchises that exist for that company.

Rob Bond, co-founder of the NMFI, says this year's survey finds that a growing number of franchises around the country are Hispanic-owned, which shows an increase in the awareness of the Latino community.

"There is no question that the franchising community is increasingly aware of the economic power and underlying talents within the Latino community," he said. "Over time, Latinos will realize their full potential and the playing field will indeed be level. Hopefully, that day is not far off."

The NMFI list features a diverse group of franchises that run from retail stores like Sign-A-Rama to restaurants like Denny's.

In December, Enterprise magazine released its list of the top franchises which was topped by the fast-food sandwich chain Subway.