- February 5, 2022 / 5 min readAs per International Franchise Association, the franchising industry will have increased to more than 780,000 outlets employing 8.4 million people in the U.S. alone.
Yum! Brands Inc, the University of Louisville and Howard University has partnered to launch Yum! Franchise Accelerator, a one-of-a-kind MBA elective opportunity supporting underrepresented people of color and women interested in the franchise restaurant industry.
Ten second-year MBA students from the two universities were selected to participate in the intensive five-month fellowship where two participants will have the opportunity to become future franchisees of Yum! Brands, the owner of KFC, Pizza Hut, Taco Bell and The Habit Burger Grill.
The debut of the Yum! Franchise Accelerator follows last year’s launch of the Yum! Center for Global Franchise Excellence, at the University of Louisville College of Business.
“Yum! Brands is proud to work with both the University of Louisville and Howard University on this groundbreaking partnership to train and advance underrepresented people of color and women entrepreneurs interested in building a career in the franchise restaurant industry,” said Scott Catlett, Chief Legal and Franchise Officer, Yum! Brands.
The participants – six MBA students from Howard University and four from the University of Louisville – receive scholarships; extensive education on the franchise business model through the Yum! Center for Global Franchise Excellence’s franchising curriculum; one-of-a-kind mentorship from some of Yum! Brands’ top franchisees in the U.S.; in-restaurant training; a sponsored trip to Yum! Brands’ Louisville Restaurant Support Center; and a number of unique curated franchising professional experiences during the semester.
Since June, more than 200 students have participated in programs at the Yum! Center for Global Franchise Excellence, including more than 100 undergraduate students, 55 graduate students and more than 75 participants in the executive-level Franchise Management Certificate program.
The franchising model is strong in the U.S. and globally and makes business ownership accessible to many individuals. As per International Franchise Association, the franchising industry will have increased to more than 780,000 outlets employing 8.4 million people in the U.S. alone.
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