B.E.'s top 20 franchises: a guide to those outlets offering the best business opportunities to Black franchisee hopefuls.A guide to those outlets offering the best business opportunities to black franchisee hopefuls MORE THAN A DOZEN FRANCHISES OPEN every business day, mainly because they tend to be well-defined well-de·fined adj. 1. Having definite and distinct lines or features: a well-defined silhouette. 2. and operator-ready businesses. Even more appealing, franchising is a lucrative market, with sales skyrocketing to $803 billion in 1992. Since 1987, BLACK ENTERPRISE has compiled a comprehensive list of franchise companies fostering equitable equitable adj. 1) just, based on fairness and not legal technicalities. 2) refers to positive remedies (orders to do something, not money damages) employed by the courts to solve disputes or give relief. (See: equity) EQUITABLE. opportunities for African Americans African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. , Initially, we highlighted those franchisors with the most black-owned units in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . But more recently, we expanded our criteria criteria (krītēr´ē  ),n. , realizing that these companies do not necessarily offer the best opportunities for new entrepreneurs. For instance, most of the big food chains have the greatest number of black franchisees, namely McDonald's McDonald’s fast-food restaurant chain throughout the world; recognized by golden arches. [Am. Culture: Misc.] See : Ubiquity , Burger King and KFC KFC Kentucky Fried Chicken (restaurant chain) KFC Kenya Flower Council KFC Kitchen Fresh Chicken (Kentucky Fried Chicken motto) KFC Kung Fu Cult (Cinema) KFC Kitchen Fixed Charge . However, many of these franchises are beyond the financial reach of the typical franchisee hopeful. The start-up Start-up The earliest stage of a new business venture. cost for a KFC franchise is between $951,000 and $1.4 million, and a Mickey A unit of mouse movement typically set at 1/200th of an inch. (unit, humour) mickey - The unit of resolution of mouse movement. It has been suggested that the "disney" will become a benchmark unit for animation graphics performance. D's will cost anywhere from $407,000 to $646,350. BE's 20 Best Franchise Opportunities list is based on the results of a national survey of franchise companies conducted by BE Research. Our editors carefully reviewed hundreds of responses to report on those we believe have the best potential for our readers. In general, these franchises are considered the best because they demonstrate traits of an excellent franchise; this includes high-quality support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , strong franchisee/franchisor relationships (honoring of franchisee rights), relatively low startup (STARTing UP) "At startup" means when the computer is first turned on or when a program is first loaded. See Startup folder. costs and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. profit potential. The criteria for making this alphabetical listing takes into account whether or not the franchisor advertised in the black press, types of programs and policies aimed at minority recruitment recruitment /re·cruit·ment/ (re-krldbomact´ment) 1. the gradual increase to a maximum in a reflex when a stimulus of unaltered intensity is prolonged. 2. , provision of ongoing marketing and advertising support and the existence of an independent association of franchisees. Other factors considered included start-up costs, franchise fees, royalties Not to be confused with Royal family. Royalties (sometimes, running royalties) are usage-based payments made by one party (the "licensee") to another (the "licensor") for ongoing use of an asset, most typically an intellectual property (IP) right. and average sales per unit. Though not every company listed may have a minority recruitment program, these 20 franchises best satisfied our standard for offering quality business opportunities for black would-be would-be adj. Desiring, attempting, or professing to be: "Would-be home buyers will have a somewhat easier time getting loans" Wall Street Journal. franchisees. The list has changed, although more than 60% of the ones on last year's list reappear reappear Verb to come back into view reappearance n Verb 1. reappear - appear again; "The sores reappeared on her body"; "Her husband reappeared after having left her years ago" this year. Some highly favored franchise companies don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. appear because they failed/refused to answer our survey. All numbers are current through December December: see month. 31, 1995. Start-up costs may vary from the figures provided by the companies listed. This depends on real estate or lease arrangements and the number of units purchased, worth requirements, sources of financing and other variables. The importance of this list is indisputable. For decades, franchisors have talked about recruiting more minorities and developing more outlets in urban communities. But in the so-called so-called adj. 1. Commonly called: "new buildings ... in so-called modern style" Graham Greene. 2. race for diversity, the pace remains slow and steady. "Most franchisors do not have minority programs. But the question should be how savvy are they in marketing to ethnic communities," says Terrian C. Barnes Barnes, former municipal borough, SE England. See Richmond upon Thames. , vice president, public affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. group/minority and women's affairs, International Franchise Association, Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , D.C., which represents 650 franchisors and 27,792 franchisees. Barnes and the BE editors agree that it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have more important for black franchisee hopefuls to start to think out of the box and look at those franchises that make the best business sense overall, and not just consider ones that have signed fair share agreements or pledges PLEDGES, pleading. It was anciently necessary to find pledges or sureties to prosecute a suit, and the names of the pledges were added at the foot of the declaration; but in the course of time it became unnecessary to find such pledges because the plaintiff was no longer liable to be to boost minority franchisees and vendors. [Part 1 of 3]
20 B.E:s BEST FRANCHISES
BLACK-
COMPANY LOCATION TYPE OWNED
UNITS
America's Favorite Atlanta, Chicken Co. Georgia Fast food 123
Electronic
detection
American Palm of water,
Leak Springs, sewer and
Detection California gas leaks 8
American Poolplayers Recreational Association St. Louis, billiards Inc. Missouri league 1 Carlson Wagonlit Minneapolis, Travel Travel Minnesota agency 5 Coverall Cleaning San Diego, Commercial Concepts California cleaning 1,341 General Retail Nutrition Pittsburgh, nutrition Centers Inc. Pennsylvania stores 62
Tires/
Goodyear automotive
Tire Centers Akron, Ohio services 27
Shoe Repair,
clothing
Atlanta, alterations
Heel Quick! Georgia monogramming 5
Jackson Virginia Hewitt Tax Beach, Income tax Service Virginia preparation 20+
Postal
business and
Mail Boxes San Diego, communications
Etc. California services 30
Management Recruiters Human International Cleveland, resources Inc. Ohio staffing 13 O.P.E.N. Cleaning Phoenix, Commercial Systems Arizona cleaning 195
Accounting
and tax
Padgett services
Business Athens, for small
Services Georgia businesses 15
P.J.'s USA New Orleans, Specialty Inc. Louisiana coffee 5 RACS International Indianapolis, Commercial Inc. Indiana cleaning 17 Service Master Residential Residential/ home/ Commercial janitorial Services Memphis, cleaning L.P. Tennessee services 485 The Southland Corp. Dallas, Convenience (7-Eleven) Texas /retail 212
Tax
Tripple preparation,
Check Income accounting
Tax Service Burbank, financial
Inc. California planning 17
Englewood
Travel Cliffs, Travel
Network New Jersey agency 42
Wendy's International Dublin, Inc. Ohio Fast food 118 [Part 2 of 3]
20 B.E:s BEST FRANCHISES
COMPANY LOCATION TYPE FEE America's Favorite Atlanta, Chicken Co. Georgia Fast food $15,000
Electronic
detection
American Palm of water,
Leak Springs, sewer and
Detection California gas leaks $49,500+
American Poolplayers Recreational Association St. Louis, billiards Inc. Missouri league Varies Carlson Wagonlit Minneapolis, Travel Travel Minnesota agency $3,950 Coverall Cleaning San Diego, Commercial Concepts California cleaning $3,250-$33,600 General Retail Nutrition Pittsburgh, nutrition Centers Inc. Pennsylvania stores $27,500
Tires/
Goodyear automotive
Tire Centers Akron, Ohio services $15,000
Shoe Repair,
clothing
Atlanta, alterations
Heel Quick! Georgia monogramming $2,500-$17,500
Jackson Virginia Hewitt Tax Beach, Income tax Service Virginia preparation $20,000
Postal
business and
Mail Boxes San Diego, communications
Etc. California services $24,950
Management Recruiters Human International Cleveland, resources Inc. Ohio staffing $50,000-$55,000 O.P.E.N. Cleaning Phoenix, Commercial Systems Arizona cleaning $3,800+
Accounting
and tax
Padgett services
Business Athens, for small
Services Georgia businesses $22,000
P.J.'s USA New Orleans, Specialty Inc. Louisiana coffee $16,000 RACS International Indianapolis, Commercial Inc. Indiana cleaning $3,000 Service Master Residential Residential/ home/ Commercial janitorial Services Memphis, cleaning L.P. Tennessee services $13,500-$25,000 The Southland Corp. Dallas, Convenience (7-Eleven) Texas /retail $51,600
Tax
Tripple preparation,
Check Income accounting
Tax Service Burbank, financial
Inc. California planning $0
Englewood
Travel Cliffs, Travel
Network New Jersey agency $4,995
Wendy's International Dublin, Inc. Ohio Fast food $25,000 [Part 3 of 3]
20 B.E:s BEST FRANCHISES
COMPANY LOCATION TYPE START-UP
COSTS
America's Favorite Atlanta, Chicken Co. Georgia Fast food $25,000+
Electronic
detection
American Palm of water,
Leak Springs, sewer and
Detection California gas leaks $100,000
American Poolplayers Recreational Association St. Louis, billiards Inc. Missouri league $4,320-$6,220 Carlson Wagonlit Minneapolis, Travel Travel Minnesota agency $6,530-$12,225 Coverall Cleaning San Diego, Commercial Concepts California cleaning $3,600-$37,100 General Retail Nutrition Pittsburgh, nutrition Centers Inc. Pennsylvania stores $102,500-$162,500
Tires/
Goodyear automotive
Tire Centers Akron, Ohio services $100,000+
Shoe Repair,
clothing
Atlanta, alterations
Heel Quick! Georgia monogramming $2,500-$135,000
Jackson Virginia Hewitt Tax Beach, Income tax Service Virginia preparation $25,000
Postal
business and
Mail Boxes San Diego, communications
Etc. California services $73,000-$106,000
Management Recruiters Human International Cleveland, resources Inc. Ohio staffing $70,000-$112,000 O.P.E.N. Cleaning Phoenix, Commercial Systems Arizona cleaning $2,500-$4,400
Accounting
and tax
Padgett services
Business Athens, for small
Services Georgia businesses $45,000-$50,000
P.J.'s USA New Orleans, Specialty Inc. Louisiana coffee $120,000 RACS International Indianapolis, Commercial Inc. Indiana cleaning $1,500 Service Master Residential Residential/ home/ Commercial janitorial Services Memphis, cleaning L.P. Tennessee services $13,000-$36,000 The Southland Corp. Dallas, Convenience (7-Eleven) Texas /retail $13,000-$222,000
Tax
Tripple preparation,
Check Income accounting
Tax Service Burbank, financial
Inc. California planning $0-$5,000
Englewood
Travel Cliffs, Travel
Network New Jersey agency $1,000-$29,500
Wendy's International Dublin, Inc. Ohio Fast food $250,000 SOURCE: B.E. RESEARCH |
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