Equal AccessGiving minorities, veterans and women a fair shot at franchising

A "memorandum of understanding" was recently reachedbetween the SBA and the International Franchise Association (IFA)to promote franchise ownership among minorities, women andveterans. Together, they're also urging lending institutions tohelp bring franchising into economically distressed areas byincreasing loan volume to qualified members of theseunderrepresented groups.

"As people become more versed in the process andprofitability of [franchising], they see it as a viable alternativeto opening their own businesses," says Debbie A. Smith,IFA's vice president of public affairs and emerging markets."At the same time, franchisors haven't necessarily goneafter ethnic minorities or women [as a population]. They'veprobably just looked at whomever walked through the door."