FRANCHISE OWNERSHIP OPENS UP FOR MINORITIES
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By Shirley Hope
As home ownership increases, more minorities are able to obtain loans to become franchisees, and some franchises are targeting minority owners for expansions. "When you look at the burgeoning middle class of African-Americans and the burgeoning Hispanic population, they're more educated and they have more money to spend," says John Reynolds, president of the International Franchise Association 's Educational Foundation. "If you're a franchisor and you don't adjust your marketing strategies to reach these groups, your competitors will. A lot of nontraditional and creative things are being done to reach out to minorities."
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