Real Property Management Is Top Opportunity For Minority Franchisees
Written by Jenna Weiner
The National Minority Franchising Initiative has named the top five franchises for minorities.
Franchising has become an extremely popular alternative to owning an independent business during the economic downturn, as it offers a network of support and financing help.
Minorities, especially, have benefited from positive franchise news, with franchisors seeing an uptick in the number of minorities and women joining their systems' ranks. In response, the National Minority Franchising Initiative recently announced the top five franchises for minorities.
Ranking No. 1 was Real Property Management, which allows individuals to gain experience in property management.
"Whereas minorities may have accounted for only 5 or 6 percent of total franchisees ... in 2000, the consensus is that today they account for well in excess of 15 percent. This is quite a remarkable testament not only to the industry's reaching out to minorities, but to the underlying values and entrepreneurial talents that minorities contribute," Robert Bond, founder of NMFI, told USA Today, according to a statement from Real Property Management.
However, like any small business, franchisees are still facing significant hurdles, especially when it comes to financing. According to a report from FRANdata, available credit could be 20 percent below what is necessary, the Washington Post writes.
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