Taco Bell, Pizza Hut and KFC owner Yum! Brands has partnered with Howard University on a fellowship program to promote more women and minority franchise owners.
Six MBA students at Howard have been selected for the five-month fellowship and are receiving scholarships, extensive education on the franchise business model, mentorships from Yum! Brands franchisees, in-restaurant training and a trip to Yum! Brands’ Louisville Restaurant Support Center.
The program will culminate with a pitch competition where two students will be selected and will receive seed money, additional training and the opportunity to become a future Yum! Brands franchise owner.
Yum! Brands has partnered with the University of Louisville for a franchise accelerator as well.
“Yum! Brands is proud to work with both the University of Louisville and Howard University on this groundbreaking partnership to train and advance underrepresented people of color and women entrepreneurs interested in building a career in the franchise restaurant industry,” said Scott Catlett, chief legal and franchise officer for Yum! Brands.
“The franchise accelerator is an incredible opportunity for Howard students to gain training in and access to a sector that has served as a wealth-building engine for so many communities,” said Yuvay Meyers Ferguson, assistant dean of impact and engagement and associate professor of marketing at Howard.
The University of Louisville, in Yum! Brands’ hometown, also houses the company’s Center for Global Franchise Excellence, where more than 200 students have participated in programs since last summer.
The International Franchise Association estimates the franchising industry increased to more than 780,000 outlets employing 8.4 million people in the U.S. in 2021. Yum! Brands has more than 52,000 restaurants globally.
