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EDITOR鈥橲 NOTE: B-roll footage
LOUISVILLE, Ky. and听WASHINGTON, D.C. 鈥 Yum! Brands, Inc. (NYSE: YUM), the University of Louisville and Howard University today announced the launch of the听Yum!听Franchise Accelerator, a one-of-a-kind MBA elective opportunity supporting听underrepresented people of color and women听interested in听the franchise听restaurant听industry. Ten second-year MBA students听from the two听universities were selected to participate in the intensive five-month听fellowship where two participants听will have the opportunity to become future franchisees of听Yum! Brands, the owner of听KFC, Pizza Hut,听Taco Bell听and听The Habit Burger Grill. The debut of听the听Yum!听Franchise Accelerator follows last year鈥檚 launch of the Yum! Center for Global Franchise Excellence,听at听the University of Louisville听College of Business.听
鈥淵um! Brands is proud to work with both the University of Louisville and Howard University on this groundbreaking partnership to train and advance听underrepresented people of color and women听entrepreneurs interested in听building听a career in the franchise听restaurant听industry,鈥 said Scott Catlett,听Chief Legal and Franchise Officer, Yum! Brands.听鈥淭he听fellowship is a win-win as the students will receive educational experiences, mentoring听and hands-on training unlike any other, while Yum! has the opportunity to welcome two听talented听business leaders and听aspiring, diverse听franchisees to our U.S. system.鈥澨
The participants 鈥 six MBA students from Howard University and four from the University of Louisville 鈥 receive scholarships; extensive education on the franchise business model through the Yum! Center for Global Franchise Excellence鈥檚 franchising curriculum; one-of-a-kind mentorship from some of Yum! Brands鈥 top franchisees in the U.S.; in-restaurant training; a sponsored trip to Yum! Brands鈥 Louisville听Restaurant听Support听Center;听and听a number of听unique curated franchising professional experiences听during听the semester. The听Yum! Franchise Accelerator听provides听each student with听learning focused听on scholarship, mentorship and entrepreneurship听that听culminates in a pitch competition where two听grand prize听winners will receive听seed money, additional training and mentorship, as well as听an opportunity to become a future Yum! franchisee.听听
鈥淚 am thrilled for the University of Louisville to partner with Howard University and Yum!听Brands on this exciting, synergistic fellowship to create exceptional opportunities for underrepresented people of color and women,鈥 said Lori Stewart Gonzalez, Ph.D., interim听president听of UofL. 鈥淭his program of the Yum! Center for Global Franchise Excellence exemplifies our commitment to enhanced student experience听and upholds our antiracism promise. I am certain it will have life-changing impact not only on participating students but far beyond, through their future entrepreneurial success and with those they mentor and inspire.鈥澨
“Howard students have always been passionate about entrepreneurship because of the potential it has to impact not just their own lives, but the lives of people in their communities.听The听Franchise听Accelerator is听an鈥痠ncredible 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,”鈥痵aid听Yuvay听Meyers Ferguson, Ph.D., Assistant Dean of Impact and Engagement and Associate Professor of Marketing at Howard University. “We are so grateful and excited about our partnership with UofL and Yum! Brands and what it will mean for increasing representation of women and people of color in the franchise industry.”听
Since June, more than 200 students have听participated听in programs at the Yum! Center for Global Franchise Excellence, including听more than 100 undergraduate students, 55 graduate students and more than听75 participants in the听executive-level Franchise Management Certificate program.听The听center听is听the first business program of its kind at a public university to provide existing and potential franchisees multiple levels of online education focused on the franchising model across industries.听It听focuses听on recruiting and educating underrepresented people of color and women on the possibilities of franchising as a pathway to entrepreneurship.听
鈥淔rom the beginning, the goal of the Yum! Center for Global Franchise Excellence was to amplify our world-class franchising model and give more underrepresented听people of color听and women access to听franchise ownership听and the ability to create generational wealth and a legacy,鈥 said听Wanda Williams, Head of Yum! Global Franchising. 鈥淭his program is consistent with听our听goal听of听becoming听the world鈥檚听multi-brand听franchisor of choice听which strives to create a global franchise system as diverse as the communities we serve.听Adding听the faces and voices of underrepresented people of color and women听leads to diversity of ownership and thought,听builds on our legacy of developing and growing franchising and creating jobs, and听broadens听the reach of听Yum!鈥檚听world-class franchising model.鈥澨
During听the semester, each student will take part in sessions that allow them to learn directly from Yum! Brands executives,听successful听franchisees and restaurant operators, as well as听interacting with听brand听franchise recruiters.听Each student participating in the Yum! Franchise Accelerator will be paired with a current Yum! Brands franchisee who will听serve as a mentor听and thought partner听during the semester-long program.听听
鈥淔ranchising is a proven model to empower communities to build and sustain generational wealth,鈥 said Kathleen Gosser, Ph.D.,听Assistant听Professor听of听Franchise听Management听and听Director听of the UofL Yum! Center for Global Franchise Excellence. 鈥淭his pilot program will accelerate this process for our deserving cohort of talented MBA students, allowing them to become the future of franchising success within underrepresented populations.听And when this success occurs, the entire community benefits.鈥澨
The creation and funding of the听UofL听Yum!听Center听for Global Franchise Excellence听is part of Yum! Brands鈥 global Unlocking Opportunity Initiative, in which听the Company committed $100 million over five years to promote equity and inclusion, education and entrepreneurship for employees, frontline restaurant teams and communities around the听world.听Across KFC, Pizza Hut, Taco Bell and The Habit Burger Grill, and in close collaboration with听Yum!鈥檚听franchisees, the Unlocking Opportunity Initiative builds on more than 20 years of investing in the Company鈥檚 people-first culture.听听
The franchising model is strong in the U.S. and globally and makes business ownership accessible to many individuals.听When 2021 year-end data is听finalized, the听听projects the franchising industry will听have听听in the U.S. alone.
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About听the Yum! Center for Global Franchise Excellence听
The听听builds on UofL鈥檚 existing franchising education tracks听within the College of Business,听which include a graduate program and an executive-level Franchise听Management Certificate. New to the听center is an undergraduate franchising track within the Bachelor of Business Administration program that听launched in the Spring听2021 semester. The Center鈥檚 curriculum development will continue to be led by franchising industry alumni and business experts at UofL with subject matter experts at Yum! Brands providing resources, up-to-date information and powerful industry insights听on听the state of franchising. In addition, to improve equity for underrepresented people of color and women, the Center:听
- actively recruits听diverse students to its undergraduate, graduate and executive-level programs offered through the College of听Business;听
- conducts听research to develop new knowledge surrounding franchise ownership, including case studies, white papers and other work to better understand the reasons for lower ownership by underrepresented people of color and听women;听听
- creates听regular听Franchise U听podcasts and a practitioner-focused journal to share franchising education and news with franchise owners and managers.听
About the University of Louisville听
Founded in 1798, the University of Louisville is a鈥痵tate-supported鈥痳esearch university located in鈥疜entucky’s largest metropolitan area. The university serves more than 22,000 students each year through undergraduate, graduate and professional programs in 12 colleges and schools. The university has been recognized and honored for efforts in research, community engagement initiatives and commitment to diversity. UofL is accredited by the Southern Association of Colleges and Schools Commission on Colleges and is a member of the Atlantic Coast Conference for both academics and athletics. For more information, visit听.听听
About Howard University听
Founded in 1867, Howard University is a private, research university that is comprised of 14 schools and colleges. Students pursue more than 140 programs of study leading to undergraduate, graduate and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced one Schwarzman Scholar, three Marshall Scholars, four Rhodes Scholars, 12 Truman Scholars, 25 Pickering Fellows and more than 165 Fulbright recipients. Howard also produces more on-campus African American Ph.D. recipients than any other university in the United States. For more information on Howard University, visit鈥.听
About Yum! Brands,听Inc.听
Yum! Brands, Inc., based in Louisville, Kentucky, has over 52,000 restaurants in more than 150 countries and territories, operating the Company鈥檚 brands 鈥 KFC, Pizza Hut and Taco Bell 鈥 global leaders of the chicken, pizza and Mexican-style food categories. The Company鈥檚 family of brands also includes The Habit Burger Grill, a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. In 2021, Yum! Brands was named to the Dow Jones Sustainability Index North America and was ranked on听Newsweek鈥檚 list of America鈥檚 Most Responsible Companies.听听听
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