January 25th 2025.
The International Franchise Association is a prestigious organization that serves as a home to franchisors, franchisees, and franchise suppliers from all over the world. Through their world-class events, advocacy efforts, educational programs, and growth opportunities, the IFA aims to support and uplift the franchise community. Within the association, there are dedicated teams that focus on advocating for veterans, promoting generational wealth, and supporting minority business owners.
One of the newest additions to the IFA is the Black Franchise Leadership Council, which was founded in 2021 by Carolyn Thurston, the founder and CEO of Wisdom Senior Care. This council is committed to empowering Black entrepreneurs through the power of franchising. Their mission is to raise awareness, foster understanding, and expand access to franchise opportunities for Black business owners. The BFLC also strives to create a culture of inclusion, diversity, and innovation within the franchising industry. As a member of the IFA, the BFLC also works to provide valuable insights and hold meaningful discussions about Black representation in franchising. They also collaborate with other IFA councils and external organizations when necessary.
To wrap up the year, the Black Franchise Leadership Council hosted a virtual holiday celebration on December 11th, with a theme of "Generational Wealth Through Franchising: A Blueprint for Success." The event featured a powerful keynote address by Dr. Willie Jolley, a well-known entrepreneur, SiriusXM radio host, and author. Dr. Jolley shared valuable lessons from his 30-plus years of experience as a successful entrepreneur, emphasizing the importance of building generational wealth by creating strong teams within your franchise system. He also gave a sneak peek into his upcoming book, "Rich Is Good but Wealthy Is Better."
The keynote address was followed by a remarkable panel discussion on "Sustaining Success: Franchising as a Path to Generational Wealth," moderated by a member of the BFLC. The panelists, including successful franchise owners Toya L. Evans and Lauren Williamson, discussed the role of persistence in achieving business goals, the ongoing challenges faced by Black franchise owners in obtaining funding, and the significance of franchisors that offer programs and incentives to promote ownership. They also highlighted the importance of adopting a multi-unit ownership strategy for building generational wealth through franchising.
The event concluded with David Smith, the director of Diversity Programs at the IFA Foundation, sharing the highlights of the second annual IFA Diversity Institute Impact Report, which was released on December 16, 2024. This report covers the accomplishments of the Diversity Institute during the year, including the launch of the Franchise Ascension Initiative. This six-month accelerator program aims to equip qualified individuals from underrepresented groups and economically disadvantaged communities with the necessary education, mentorship, resources, and support to succeed as franchise owners.
To watch the recorded webinar, visit https://www.youtube.com/watch?v=KoF1dzPaOKI. For more information on the BFLC and how to get involved, please contact David Smith at
[email protected]. And in related news, we cannot forget to mention Keon Williams, the first Black franchisee of Tacos 4 Life, who recently opened a new location in Charlotte. It's exciting to see the growth and success of Black entrepreneurs in the franchising world.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
