Now is the perfect time to enjoy a cup or two of your favorite coffee; September 29 marks #NationalCoffeeDay. Dunkin’ Donuts is cutting the price of a medium-sized cup of coffee to 66 cents for National Coffee Day. The special price is a nod to the donut and coffee chain’s “66-year history of keeping people running with great coffee each and every day.” The chain is one of many offering special deals on this day.
As one of the most widely consumed beverages worldwide, over half of Americans drink coffee on a daily basis. According to a study by Harvard’s School of Public Health, long-term coffee drinkers have a reduced risk of the onset of Type 2 Diabetes, among other health benefits.
When buying that cup of java today, consider those brands that provide opportunities for minority entrepreneurs.
Dunkin’ Donuts and Its Minority Franchising Initiative
With more than 18,000 points of distribution in nearly 60 countries worldwide, Dunkin’ Brands Group, headquartered in Canton, Massachusetts, is one of the world’s leading franchisors for quick service restaurants. At the fiscal end of 2013, Dunkin’ Brands’ nearly 100% franchised business model included about 11,000 Dunkin’ Donuts restaurants and 7,300 Baskin-Robbins restaurants.
Answering the call to boost opportunities for minority entrepreneurs, two years ago Dunkin’ Brands Group, Inc., the parent company of Dunkin’ Donuts and Baskin-Robbins, teamed up with the NAACP to create a Diversity Franchising Initiative, to increase the number of African American-owned franchise businesses in the United States. Through this partnership, communities of color and would-be franchisees gained access to in-depth franchising education and training, as well as assistance in overcoming the financial challenges related to becoming a franchise owner.
First announced at the NAACP’s national convention in July 2014, the goal of the initiative was to increase the number of franchised businesses owned by people of color in both the quick service restaurant sector and across the spectrum of franchise concepts in today’s marketplace. Subsequently, a web series was launched in collaboration with the International Franchise Association Educational Foundation’s Diversity Institute.
Franchising as a Way to Create Generational Wealth
Building your legacy through franchising is ideal if you can find the right fit for your skills and desires.
“If you’re yearning for a way to control your own destiny, choose the people you work with, give back to your community, challenge yourself, take pride in something you’ve built, and want to see it continue for generations to come, consider franchising as a way to achieve that,” says franchising guru Nancy Williams.
There are a number of resources out there, including on BlackEnterprise.com, that discuss the power of franchising and provide a thorough overview of the industry, franchising business models, resources, and tips to help get you started.