Why Aren't There More Hispanics in Franchising?
Torres points to a low headcount in many franchisors' management and executive teams. "In general that is the handicap. When you don't have inside your company a workforce that can identify with that [at the executive or management level] it's tough to go after it," he says.
Guillermo Perales, the largest Latino franchisee and CEO of Sun Holdings, owner of nearly 400 franchises in the Dallas-Fort Worth area, including Arby's, Popeye's, Golden Corral, Burger King (BKC), CiCi's and Del Taco, says more franchisors need to incentivize their teams to bring on Hispanic franchisees.
"I don't think they're actively seeking [franchisees] because in their mind it's not a top priority," he says. "They don't have outreach programs to look or bring or incentivize some Hispanics to come into the system."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV