Posted: November 29, 2010 at 8:37 am
BY NATIONAL MINORITY FRANCHISING INITITATIVE
Leading Economy Hotel Chain Selected Two Consecutive Years
– November 23, 2010 – Red Roof®, the leading U.S. economy hotel chain, has been selected a second consecutive year by the National Minority Franchising Initiative (NMFI) as one of the “50 Top Franchises for Minorities.” The results were featured in the November 5th issue of USA Today in the “Franchising Today” section. A copy of the article with the list can be found here.
“We are delighted to be honored again as one of the Top 50 Franchises for Minorities in the U.S.,” said Red Roof President Andrew Alexander. “With more than 4,500 employees nationwide, and half of that total number being of a minority background, Red Roof recognizes the importance of racial diversity in serving our guests.”
The NMFI selected 50 franchisors from hundreds of companies requesting evaluation for inclusion in the article. There was no cost to participate in the survey. The only constraint was that franchisors had to have in excess of 50 operating units. Each participating franchisor was required to submit its most recent Franchise Disclosure Document (FDD), the marketing package that is sent to prospective franchisees, as well as a completed questionnaire. The questionnaire noted the number (both absolute and as a percentage of the total number) of operating units owned by minorities, as well as the number of minorities in senior management that earned over $60,000 per year.
The National Minority Franchising Initiative (NMFI) is a program launched by World Franchising Network (WFN) in 2000 to level the playing field and meet the needs of a largely under-represented market. The www.MinorityFranchising.com website lists over 500 companies committed to recruiting and supporting minorities, as well as resources that are essential to the evaluation process. The site represents an effective and cost-efficient tool for franchisors to increase minority representation within their systems.