The International Franchise Association’s new accelerator program seeks to increase franchise business ownership to narrow wealth gap
CHARLOTTE, N.C. — HomeFront Brands, a property service franchise platform comprising five emerging brands, today announced its support for the International Franchise Association (IFA)’s new Franchise Ascension Initiative, an accelerator program established to support individuals from underrepresented communities with education, mentorship, resources and financial support so they can successfully launch a career in franchise ownership.
By increasing diversity in the franchisee talent pipeline, the Franchise Ascension Initiative aims to narrow the wealth gap and provide qualified individuals with business ownership opportunities.
“Franchising is one of the greatest pathways to business ownership and creating generational wealth,” said IFA President and CEO Matt Haller. “This program ensures that access to opportunity is available to everyone, regardless of background. What better way to bridge the wealth gap than by opening more doors for minority business owners. With the support of our generous partners like HomeFront Brands, the Ascension Initiative will further help franchising change lives and communities.”
As a Founding Supporter, HomeFront Brands will donate $10,000 annually over the next five years for a total contribution of $50,000. The company’s donations will help launch the accelerator program, which will begin accepting applications in the coming months. The first group of participants is expected in late 2024.
“HomeFront Brands is committed to supporting diverse and underserved communities as part of our core values of community, accountability, respect, excellence and service,” HomeFront Brands Chairman and CEO Jeff Dudan said. “We’re excited to be a part of the IFA’s Franchise Ascension Initiative and proud to work toward the goal of helping qualified individuals reach their goals of business ownership.”
According to data from Oxford Economics, Black-owned franchises earn 2.2 times more than Black-owned independent businesses; Hispanic-owned franchises earn 1.6 times more than Hispanic-owned independent businesses; and Asian-owned franchises earn 1.4 times more than Asian-owned independent businesses.
The Franchise Ascension Initiative will select capable candidates for a rigorous six-month education program to help them build the essential skills they need to be successful franchisees. Building on IFA’s extensive library of franchise educational materials, the program will be specifically curated for participants, along with individualized mentorship. The program will culminate in a pitch contest with potential franchise opportunities.
HomeFront Brands offers community-based franchise opportunities to aspiring entrepreneurs seeking to build a dynasty and create generational wealth. By leveraging data-driven insights and enterprise-level solutions with a focus on community-based franchising, HomeFront Brands has seen tremendous growth since its inception in February 2022.
To learn more about HomeFront Brands, visit https://homefrontbrands.com/. To learn more about the Franchise Ascension Initiative, visit https://pages.franchise.org/ifa-franchise-ascension-initiative-lp/.
HomeFront Brands empowers entrepreneurs to create thriving franchised residential and commercial property service brands. Driven by an experienced team of franchise executives and rooted in family values, HomeFront Brands helps emerging or established concepts accelerate their growth by delivering enterprise-level solutions to local business owners who aspire to build a dynasty and create generational wealth. By leveraging integrated technology, data-driven intelligence and advanced learning management systems, HomeFront Brands is building a foundation for its brands – Window Hero, The Designery, Temporary Wall Systems, Top Rail Fence and Yard Patrol Pros – to transform lives through franchise ownership.
For more information about HomeFront Brands’ current solutions, new business development, and franchising opportunities, please visit https://homefrontbrands.com/.
Celebrating over 60 years of excellence, education, and advocacy, the International Franchise Association (IFA) is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations, and educational programs to protect, enhance and promote franchising and the approximately 806,270 franchise establishments that support nearly 8.7 million direct jobs, $858.5 billion of economic output for the U.S. economy, and almost 3 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology, and business development.
SOURCE HomeFront Brands