Southbury, CT - FranchisEsource Brands International (FSBI) has been selected as one of the Top 50 Franchisors by the National Minority Franchising Initiative (NMFI) for actively seeking minority participation and ownership through sophisticated minority recruitment programs. The FSBI business coaching brands included in this honor are The Entrepreneur's Source, AdviCoach and Business Partner. FSBI's inclusion was based on its overall minority recruitment program, the percentage of minority franchisees currently within their system and the percentage of minorities in key positions within the franchisor's management.
"Owners of FSBI business coaching brands are made up of people from all backgrounds and cultures," says Terry Powell, founder and CEO of FSBI, a multi-brand Business Coaching franchisor with high-performance brands dedicated to the advancement of the entrepreneur and those who aspire to be one. "Awarding franchises to a diverse group of franchisees has only added to the growth and success of our brands," he added.
For 25 years, FSBI has fostered a culture of diversity and has actively instituted programs that target minority participation. Today, Terry Powell is an active board member of the International Franchise Association's (IFA) Diversity Institute, a group formed to promote and foster diversity and inclusion within the franchising community. FSBI brands participate in the FranVet program, opening doors for military veterans to take advantage of the economic independence franchising offers. And, FSBI is on the forefront of the fastest growing segment in franchising - women-owned franchise companies with the sponsorship of WEBB, or Women Empowered By Business, an organization that promotes and empowers women who are seeking to become knowledgeable and self-sufficient members of the business world.
The National Minority Franchising Initiative (NMFI) is an organization whose sole purpose is to expand the number of minorities in franchising. Minorities make up more than 30% of the U.S. population, however today, they account for less than 15% of franchise owners, according to the NMFI. Because of this underrepresentation, and the fact that the minority market is currently underserved by the franchising community as a whole, NMFI wants to acknowledge the increasing number of progressive franchisors aggressively trying to attract and support minority franchisees. Among the 3 FSBI business coaching brand franchisees, 17.5 percent fall into the minority category.
"It's nice to know that we have a higher number of minorities as franchisees in our FSBI family of brands than most franchise concepts," says Powell. "However, we can all get better at creating opportunities for minorities to bring their skill set and passion for business ownership to the franchise industry," he added.