• Jennifer Callender

Why Diversity in Franchising Matters? Part I



Where we are standing now in the stream of progress for business leadership and ownership supports the truth that diversity absolutely matters for long-term success.

The well-known McKinsey studies of 2015 "Why Diversity Matters" and 2018 "Delivering through diversity" showed that companies who were initiating a stronger ethnic and cultural diversity were 33% more likely to outperform companies who we lacking such diversity. The latest report, just prior to the start of the global COVID-19 pandemic "Diversity Wins", which included data from more than 1,000 large companies in 15 different countries showed an increase to 36% success among companies promoting ethnic diversity.

Both of these statistics were compared under a business case that showed an equal comparison in a greater likelihood of financial outperformance amongst diverse executive teams.

In the same studies, gender diversity was also shown to contribute to overall business financial outperformance from 15% in 2015 up to 35% by the end of 2019.

However, percentiles still show huge gaps in diversity development over time, showing a constant need for awareness and advancement amongst business leaders, owners, and executive teams.

Diversity Amongst Franchises

Each year, the franchising industry continues to contribute to a national initiative in diversity growth. Nearly 30% of franchises are minority-owned, compared to 18% of non-franchised businesses.

In 2019, the Annual Business Survey showed approximately 18.3% (1.0 million) of all U.S. businesses were minority-owned and about 19.9% (1.1 million) of all businesses were owned by women.

Starting a franchise is enough work in itself. If you are a minority group looking into making a success of franchise ownership or a current franchise owner looking to diversify your team, these success stories may be just what you need for some practical motivation.

Diversity Owner Spotlights

Adrian Archie, PetNMind

As "one of the comprehensive organic pet supply stores in Florida founded by pet nutrition specialist Adrian Archie", PetNMind offers a wide variety of pet supply products and services including consultations pet health, nutrition, grooming, hygiene, and lifestyle.

Archie, founder of PetNMind was introduced to natural nutrition for his own pets in 2007 and as a result, of personal success and increased experience with natural products, after a decade long career in Healthcare Sales and Marketing, he decided to follow his passion and open his own store where he is dedicated to providing holistic nutrition, all-natural treats, and pet supplies. PetNmind Natural Nutrition and Self-Service Dog Wash were founded in 2014 to serve pets and their families across South Florida.

(petnmind.com)

Caroly Thurston, Wisdom Senior Care

With over 20 years of helping seniors, Thurston started Wisdom Senior Care in 2006. She's always been service-oriented towards healthcare and seniors, graduating with honors from Winston Salem State University with a Bachelor of Science in Nursing.

Wisdom Senior Care has grown with the mission to "keep more of our seniors happy at home and change the perception of aging." Thurston says "We enjoyed learning and being around the senior population. We choose to help and support our elderly community who wants to leave in the comfort of their own homes. We have been part of the solution to provide an environment where the seniors could still feel valued.

All those years of experience with seniors are being shared throughout our organization."

(wisdomseniorcare.com)

Success spotlights show the dedication, development, and establishment of support networks for the success of diverse franchise ownership. As franchise business ownership numbers continue to climb, the diversity percentage will consistently contribute to its thriving growth.

Our vision is to ensure that every franchise owner is afforded the opportunity to grow into their fullest potential.

Jenivid Solutions Supports Diversity Initiatives

Jennifer Callendar is CEO and Founder of Jenivid Solutions, LLC, a franchise consulting firm focused on fostering a clear pathway to franchise business ownership. Callendar participated in the first minority-focused Angel Investors cohort in Atlanta, GA. As a result, she’s provided guidance and seed investment to several early-stage minority-owned companies. Most recently, her unique background has afforded her the insight and passion for leveraging franchise strategies as a means to educate and empower transitioning corporate professionals into business ownership. She has been recently nominated as a diversity champion by the Atlanta Business Chronicle.

Get Started with Jenivid Solutions (in affiliation with FranServe)

Working with a professional franchise consultant can offer you, as a potential franchise owner, a wealth of general and inside information about the franchise industry as well as about specific franchise industries and opportunities. Jenivid Solutions helps save our clients time by assisting with much of the initial legwork required in identifying rock solid opportunities that meet your criteria and are available in your desired market. Jenivid Solutions currently works with over 500 of today's top franchise opportunities from dozens of different industries.

Resources:


https://www.franchise.org/franchise-information/operations-training/how-diversity-strengthens-your-franchise

https://1851franchise.com/why-diversity-in-franchising-matters-3357

https://www.franchisedirect.com/blog/minority-owned-franchiseswhere-are-we-now-and-what-are-we-doing

https://www.census.gov/newsroom/press-releases/2021/annual-business-survey.html