NexCen Brands Inc., owner of multiple quick-serve and retail franchise concepts, was recognized as one of the top five friendliest franchises for minorities by the National Minority Franchising Initiative (NMFI). This is the second year in a row that NexCen has been included in NMFI's "50 Top Franchises for Minorities.” As part of this ranking, NexCen was included in a special "Franchising Today" section in the October 2 edition of USA Today. NexCen Brands' TAF, previously known as The Athlete's Foot, was included in the first NMFI rankings when the list was initiated in 2007.
"Continuing to identify and explore new growth markets, both here in the U.S. and internationally, is a primary focus for our company," says Chris Dull, president of NexCen Franchise Management, the franchising subsidiary of NexCen Brands. "Our multi-brand franchisee family consists of hundreds of diverse franchisees and we're always looking for innovative and exciting ways to effectively engage highly qualified entrepreneurs who can bring our products to new locations and customers."
The NMFI Top 50 list is compiled annually to recognize companies that have demonstrated a focus on recruiting and supporting minority franchisees into their systems. Inclusion is based on the companies' overall minority recruitment programs, percentage of minority franchisees currently within their systems, and the percentage of minorities in key positions within the franchisors' management.
"I have worked with NexCen for many years and continue to be impressed with their commitment to the recruitment of minorities and, more importantly, their support of franchisees as well as their focus on expanding their brands through superior products," says Rob Bond, co-founder of the NMFI.
The NMFI selected the 50 Top Franchises from a wide variety of participating companies. Franchisors seeking consideration had to have more than 50 operating units and were asked to complete a basic questionnaire including, among other things, details on their minority franchisee representation and incentive programs. Each participating franchisor was also required to submit its most recent Franchise Disclosure Document (FDD) and marketing materials.