Dine Brands Foundation Announces Support for New Initiative to Catalyze Franchise Ownership Among Underrepresented Groups
March 26 2024 - 9:00AM
Business Wire
New accelerator program from the International
Franchise Association seeks to increase franchise business
ownership to narrow wealth gap
Dine Brands Foundation today announces 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 to successfully launch
a career in franchise ownership. By increasing diversity in the
franchisee talent pipeline, the Ascension Initiative aims to narrow
the wealth gap and provide qualified individuals with business
ownership opportunities.
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“Franchising is one of the greatest pathways to business
ownership and creating generational wealth,” said Matt Haller, IFA
President and CEO. “This program ensures that access to opportunity
is available to everyone, regardless of background. What better way
to bridge the wealth gap than through opening more doors for
minority business owners. With the support of our generous partners
like Dine Brands, the Ascension Initiative will further help to
change lives and communities through franchising.”
The Dine Brands Foundation pledged $100,000 to launch the
effort, which will begin accepting applications in the coming
months. The first cohort of participants is expected in late
2024.
“We are proud to announce our financial contribution to support
the Franchise Ascension Initiative. Our ongoing support underscores
our commitment to creating opportunities in the restaurant industry
for a diverse workforce and recruiting franchisees from
underrepresented communities to the Dine table,” said John Peyton,
Dine Brands chief executive officer.
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.
The Dine Brands Foundation was established to further strengthen
and establish partnerships with community-based nonprofit
organizations that address food insecurity and hunger relief,
bringing communities together through nutrition education and
access, and creating opportunities in the restaurant industry for a
diverse workforce. Dine and its brands – Applebee’s, Fuzzy’s Taco
Shop and IHOP – have been giving back to communities where they
operate for decades and remain focused on creating experiences for
all stakeholders to dine better, together.
More information on the Ascension Initiative is available
here.
About Dine Brands Global, Inc.
Based in Pasadena, California, Dine Brands Global, Inc. (NYSE:
DIN), through its subsidiaries and franchisees, supports and
operates restaurants under the Applebee's Neighborhood Grill +
Bar®, IHOP®, and Fuzzy’s Taco Shop® brands. As of December 31,
2023, these three brands consisted of over 3,500 restaurants across
18 international markets. Dine Brands is one of the largest
full-service restaurant companies in the world and in 2022 expanded
into the Fast Casual segment. For more information on Dine Brands,
visit the Company’s website located at www.dinebrands.com.
About the International Franchise Association:
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.
SG-DT
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version on businesswire.com: https://www.businesswire.com/news/home/20240326600487/en/
Susan Nelson Sr. Vice President, Global Communications Dine
Brands Global, Inc. Susan.Nelson@dinebrands.com
Katherine Knight Patterson International Franchise Association
kpatterson@franchise.org (202) 662-0783
Dine Brands Global (NYSE:DIN)
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