http://www.franchiseharbor.com

By: mikesmithfranchise


According to a study by the International Franchise Association in 2011, the Hispanic population is one of the fastest growing in the US, currently at 15.1 with expectations to double by 2050. While Hispanics are entrepreneurial in nature, their presence in the franchise industry is rather low with only 5.8% of Latinos taking advantage of a franchise opportunity. But this figure will soon change as more aspiring entrepreneurs from the demographic are educated to learn the ropes of franchising. With food franchises enjoying healthy growth the past years, Hispanics are mainly interested to buy franchise in this category.

The food industry especially fast food and quick-service franchises continue to enjoy steady growth despite the recent economic downturn because of the fact that people will constantly eat out. Customers are always seeking for variety and convenience thus giving way for food franchises to expand across the nation. Unlike any other ventures, this industry offers greater chances of success and the promise of profitability continue to encourage more and more Hispanic businessmen to invest when a franchise opportunity is available.
Publications such as the QSR magazine further support the idea that Hispanic franchises are beneficial for franchisors that plan to diversify and reach out to a wider demographics. Take for instance fast food businesses such as Subway, Arbyís, Green Leaf and Villa Fresh. These brands welcome partnerships with Hispanic franchisees seeing the endless opportunities of expansion and profitability as a result. Letting them buy franchise is highly effective to promote the business to an otherwise hard to reach group of customers.

Considering that population rate in this community is projected to aggressively grow in the coming years, businesses that want to diversify should take advantage as early as possible. Present and provide franchise opportunity information in ways that will lure the next generation of aspiring Hispanic entrepreneurs. QSR recommends setting up bilingual web portals with valuable information available in Spanish and English to target the right group of people. Furthermore, advertisements should be specific and customized to the community that will educate, encourage and entice prospective Latin investors.

Instead of waiting for franchisees to come, major brands can set up events and shows in metropolitan areas saturated by the Hispanic community where entrepreneurs can fully understand the franchise industry. When they understand the how and way, it will be easy for Hispanic investors to buy franchise thereby promoting the brand to a wider audience. This means more customers essentially leading to higher profits.

Article Directory: http://www.articletrunk.com

| More

According to a study by the International Franchise Association in 2011, the Hispanic population is one of the fastest growing in the US, currently at 15.1 with expectations to double by 2050. While Hispanics are entrepreneurial in nature, their presence in the franchise industry is rather low with only 5.8% of Latinos taking advantage of a franchise opportunity. But this figure will soon change as more aspiring entrepreneurs from the demographic are educated to learn the ropes of franchising. W

Please Rate this Article

 

Not yet Rated

Click the XML Icon Above to Receive Other Finance Articles Articles Via RSS!


Powered by Article Dashboard