Expanding Franchising's Reach Expanding Franchising's Reach

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O P P O R T U N I T I E S F O R A L L : E X P A N D I N G F R A N C H I S I N G ’ S R E A C H Taking It to The Next Level Minority entrepreneurs have been making their mark on the world of franchising for several decades now, both as franchisees and franchisors. Increasingly, however, these successful franchise owner-operators are flexing their economic muscle by investing in multiple concepts or multibranding. By Terrian Barnes Gene Camarena, president, LaRaza Pizza, Inc. and a partner in Capital Management, and Thornton Edwards, president, Tec-Foods, Inc., are two very successful entrepreneurs who are changing the shape of franchising in ways once thought beyond the reach of Hispanics, African- Americans, and other under-represented ethnic groups. Like many people, Thornton Edwards began his work-life in corporate America. With MBA in hand, he launched a successful career with several Fortune 500 companies, including Smith Corona, Colgate-Palmolive and Anheuser Busch. “In retrospect, I had an exciting position, earned a great salary, and had access to the corporate jet, but ultimately I knew I wanted to do more than just make money for someone else.” To Whom Much Is Given, Much Is Required When Edwards had the opportunity to strike out on his own as an Eagle Snacks distributor for Anheuser- Busch, he took it, and built a thriving enterprise. He leveraged his 401(k) and worked out a financial package that enabled him to buy two distributorships in the Detroit area. But then in 1996, Anheuser-Busch decided to close down its snack food division. Edwards, as an exclusive distributor, had to scramble to keep his business alive. “Success is never guaranteed and failure is never final,” says Edwards. “Success is never guaranteed and failure is never final,” says Edwards. “I worked hard to rebuild my territory into one of the largest in the country. I found another product supplier, my retailers stuck with me, and I was able to keep my employees on Thornton Edwards the payroll as well as maintain our 2000-plus business accounts.” Although Edwards was able to recover from this unexpected upset, the incident prompted his decision to never again rely on a “one-legged stool.” He began researching other opportunities, focusing on franchising. The concept of co-branding—two or more “brands” under the same roof—was of particular interest to Edwards because it would allow him to diversify his business portfolio. After careful planning, he sold his snack food business and became the owner-operator of several gas station-convenience stores in the Detroit area. “There was clearly value in it for me,” says Edwards. “I saw the advantage of being able to offer diverse products to attract customers 24 hours (Continued on page 20) 2002 MINORITIES IN FRANCHISING 19
Page 1 and 2: Opportunities For All: Expanding Fr
Page 3 and 4: Experience success morning, noon an
Page 5 and 6: A REWARDING OPPORTUNITY Invest in Y
Page 7 and 8: A Candid Close-Up: Mr. Keith Salmon
Page 9 and 10: Being an owner operator isn’t eas
Page 11 and 12: Be in Business For Yourself, Not By
Page 13 and 14: Choosing the Right Franchise… A D
Page 15 and 16: Accor’s Ambassador Program: Reach
Page 17 and 18: you can expect to receive. Don’t
Page 19: Some franchise companies have progr
Page 23 and 24: Independence. Consider this: 90% of
Page 25 and 26: their problems solved through legis
Page 27 and 28: Sherman and Sylvia Hardy Franchisee
Page 29 and 30: ackgrounds, and the travel. “The
Page 31 and 32: Michael Seid’s book, “Franchisi
Page 33 and 34: Another excellent example is the U.
Page 36 and 37: (Continued from page 32) your expec
Page 38 and 39: Keys to Building Wealth Through Hot
Page 40 and 41: Territory Development: What Every F
Page 42 and 43: Considerations In Choosing A Busine
Page 44 and 45: Franchising Your Business: Pathway
Page 46 and 47: Supplier Diversity: The Strategic A
Page 48 and 49: Advancing Franchising and the Free
Page 50 and 51: I F A P R O G R A M S IFA Programs

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