All you need is faith the size of a mustard seed: The franchise community can attract more...

"Rejuvenation of the American Spirit" begins with entrepreneurs--many living their dreams through the opportunities that exist in franchising--feeding the economy in large cities, small towns, urban centers and rural routes across the country. An entrepreneur needs a passion for owning a piece

Franchising enables minorities and women help to paint all Americans the same color, a color that is pride and prosperity. So what does a franchise need to do to attract more minority and women entrepreneurs? The answer is FAITH: focus, anticipation, initiative, time and harmony.

Focus

Focus requires that franchise systems are clear and specific on the outcomes they want to achieve in the development of a minority and women franchisee base. Focus also requires that the franchisor implement a "top-down and bottom up" approach to identify and develop new franchisee candidates. The NAACP, Urban League, Hispanic Chamber of Commerce, and the National Association of Women Business Owners as well as the International Franchise Association can be sources of information. The best sources are community-based organizations that have their finger on the pulse of a particular community. They can help franchise systems identify business partners and to find lucrative and safe locations for developing new sites.

However and wherever franchise systems attract franchisee candidates, they will likely be astute entrepreneurs who understand that business, entrepreneurship, wealth creation and the institutionalization of wealth are only a means to an end. The goal for the minority community is to develop a power base that allows the community to compete on a national and international level. To the degree that franchisors can help entrepreneurs achieve this mission, they will have laid the foundation for long and mutually beneficial strategic relationships.

Anticipation

The next tenet of faith is anticipation. To develop a franchisee base reflective of the communities in which it operates, companies should consider working to ensure ownership and operation to African-Americans (12.9 percent), Latino Americans (12.5 percent) and women (50 percent). These percentages do not yet exist in a physical sense but serve to create a compelling internal force that motivates the company to bring these franchising objectives into reality.

Even today, too many Americans believe that minority and women-owned businesses are inferior to businesses owned and operated by white males. Minority communities are often seen as dangerous and unworthy of business investment. Despite media reports that continuously paint a depressing and often confusing picture of black and Latino communities, franchisors can seek the positive elements from the community and make a conscientious decision to build upon them. That's the faith element.

Initiative

Franchisors can take the initiative with strategic steps to ensure that a pipeline of franchisee candidates is being developed. First and most importantly, engage the community. Develop programs that will make the community aware of business opportunities that the company has to offer. Establish relationships with the local community colleges and area universities, community and faith-based organizations and local small-business consortiums. Generate interest in the opportunities that the company has to offer. Keep in mind that most entrepreneurs are constantly bombarded with many different types of business opportunities on a daily basis such as e-mail.

Your efforts to build awareness and interest should lead to the development of a pool of possible candidates that now need to be screened and qualified. From a 10-year study on the success traits of minority entrepreneurs, I wrote about my findings in two books, Black Wealth: Your Road to Small Business Success and Soul Food: 52 Principles for Black Entrepreneurial Success. I conclude that entities that want to increase minority business development need to identify people who have black, brown, red, or yellow skin and are highly moral, business literate, intelligent, established in the community, and willing to learn the "ins and outs" of how to build and maintain a franchised business.

After candidates are screened, the franchisor can work closely with the franchisee to ensure that a plan is put in place to guide them through all of the required steps to attain success in the business. Attaining success also means that the franchisor is aggressive in helping the franchisee secure the proper funding to launch and maintain the franchise. Access to capital remains one of the major impediments to minorities building plausible and successful business enterprises. Franchisors' use of progressive thinking can implement creative ways to remove this persistent roadblock to entrepreneurial success for minorities and women.

Time

Nothing good happens unless you put the time necessary to make it good. It will take time for a company to build a relationship with a particular community. As a member of the advisory board for the GE Center for Financial Learning, I know that this unit of GE is dedicated to increasing the financial literacy IQ for all Americans. GE is especially interested in working with the minority and female communities. I've advised the leadership of this group that it takes time to develop a lasting business relationship with the minority community, and that resources must be committed over a sufficient time period.

Harmony

For franchise systems to successfully attract and nurture minority and female-owned franchises, it must have harmonic synergy on three levels.

First, the company's franchising development initiatives must be in harmony with its business values, credos and tenets. The company must believe that developing a more diverse franchisee pool is not only the right thing to do, but that it is also the astute thing to do from a business standpoint.

Secondly, the company and its employees must be in harmony by moving in the same direction and employees must wholeheartedly support it. Employees are the minority community's initial interface to a company.

Finally, the company must be in harmony with the communities with whom it seeks to do business. A community is more likely to be motivated to do business with a corporation when they feel that the corporate neighbor sincerely cares about them and their issues. Companies like AFC Enterprises, The Athlete's Foot, Blimpie International, McDonald's and Tricon Global, among others, have mastered this reality and have utilized the harmony generated over years of investing to drive growth.

Robert Wallace, founder and president of The Bith Group, Inc. in Columbia, MD, is an entrepreneur, management consultant and speaker. If you'd like more information on Robert Wallace or if you'd like to get in contact with him, call toll free 1-888-68-IMPACT or log onto doitwithimpact.com.