The Color of Entrepreneurship: Why the Racial Gap among Firms Costs the U.S. Billions

Although the number of minority-owned businesses is increasing dramatically, America is currently forgoing an estimated 1.1 million businesses owned by people of color because of past and present discrimination in American society. These missing businesses could produce an estimated 9 million more jobs and boost our national income by $300 billion. Thus, expanding entrepreneurship among people of color is an essential strategy for moving the country toward full employment for all.

The Color of Entrepreneurship: Why the Racial Gap among Firms Costs the U.S. Billions

by Algernon Austin

Businesses owned by people of color are playing an important part in restoring the health of the American economy after the Great Recession (December 2007 through June 2009). Between 2007 and 2012, privately held minority businesses contributed 1.3 million jobs to the American economy. In a more inclusive society, one where there was truly equal opportunity for all, there would be more minority-owned businesses contributing even more to America’s recovery.

Although the number of minority-owned businesses is increasing dramatically, America is currently forgoing an estimated 1.1 million businesses owned by people of color because of past and present discrimination in American society. These missing businesses could produce an estimated 9 million more jobs and boost our national income by $300 billion. Thus, expanding entrepreneurship among people of color is an essential strategy for moving the country toward full employment for all.

This report documents the changes in the economic status of businesses owned by people of color between 2007 and 2012. Although most privately held businesses do not have employees, this analysis focuses mainly on the businesses that do have paid employees because of their greater economic impact. Data for the analysis was culled from the U.S. Census Bureau’s Survey of Business Owners (SBO), which is conducted every five years. The two most recent surveys are from 2012 and 2007. In the SBO data, a racial, ethnic (Hispanic), or gender group is defined as owning a firm if it owns more than 50 percent of the equity, interest, or stock of the business. Hispanics can be of any race, and the Survey of Business Owners includes them within their racial group when the data is presented by gender (e.g., White Hispanic women’s firms are in the racial category White women’s firms). The analysis excludes publicly held firms—firms that are traded on a U.S. stock exchange—because those firms are not classifiable by race, ethnicity, or gender.1 Public firms are generally larger than private firms.

Key findings of this report are:

Nearly all of the entrepreneur-of-color groups experienced significant growth in the number of their firms from 2007 to 2012. Asian American women-owned firms had the strongest numerical growth rate, 37.6 percent.

African American men were the only group to have a decline in the number of their businesses in the period from 2007 through 2012.

Six of the 10 groups of business owners analyzed experienced a decline in average sales from 2007 to 2012. Firms owned by Black women had the largest decline in average annual sales, 30 percent, followed by firms owned by American Indian women, 22.2 percent. The strongest growth in average sales was posted by firms owned by Latino men. The average sales of these firms grew 7.2 percent.

In 2012, all of the firms owned by groups of male business owners had higher average sales than all of the firms owned by groups of female business owners. White men’s firms had the highest average sales among the male firms, and Black men’s firms had the lowest. Among the female firms, White women’s firms had the highest average sales and Black women’s firms had the lowest.

The Great Recession delivered a significant blow to White male business owners in the construction industry. In 2007, White men owned 70.7 percent of all privately held construction firms. In 2012, with the bursting of the housing bubble, the number of construction firms owned by White men had declined by 61,000 (11.4 percent) and the number of employees in these firms had declined by one million (21.4 percent).

Looking only at the groups with businesses that added jobs between 2007 and 2012, non-White business owners added 72.3 percent of the total.

If the number of people-of-color firms were proportional to their distribution in the labor force, people of color would own 1.1 million more businesses with employees. These firms would add about 9 million jobs and about $300 billion in workers’ income to the U.S. economy.
Read the entire article here:

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Small Business and Franchise Show on AM970 The Answer New York City.

This program will help put you on a clear path of starting and growing a business. An enterprise that you can call your own, one that can help you achieve freedom from a dead end job, help you gain financial independence, and true security for your family. We will explore ways for you to create, start & grow your ideal business or franchise. You’ll learn how it’s done, how to bring your dream to life, and The Risks and the Rewards of business ownership.

This Week We started our Small Business and Franchise Show on AM970 The Answer New York City. You can listen to the entire first broadcast at the Link below. Our guests were Harold Kestenbaum – Attorney and Nick Powills, CFE – No Limit Agency. Give a Listen and tune in every Sunday at 3pm EST. Also feel free to call in with your questions.

More Sales with what Two Questions???

Now I’m sure you can come up with a few of your own questions here, but you get the idea. The point is to ask questions and LISTEN to your prospect’s response.

Two Great New Year’s Questions for Your Clients

By Mike Brooks

Welcome back to the office, how do you feel? Overwhelmed? Under pressure already?

If so, then you’re not alone. Most company’s management and sales teams are under immediate pressure already to begin accomplishing their new goals and sales targets. In fact, this pressure is also felt in the accounting department, the marketing department, and everywhere else. You can probably feel it in your company, too.

As you speak with your clients and prospects this week, realize that they are all feeling this pressure as well. While this may seem like a bad thing, it can actually present a great opportunity for you. Here’s how I handle the companies and contacts I speak with this month:

After talking briefly about the holidays and New Year’s celebration, I always start with question number one:

“So ________, what are the top 3 initiatives for your department has this year?”

Then I hit mute and take notes.

If they need a little help here, I use layering questions like:

“What was your revenue like last year?” Or,

“What percentage increase are you asked to produce this year?” Or,

“What are you doing differently to accomplish this?”

“What do you think is most needed for you to succeed at that?”

After I’ve listened and asked layering questions and taken notes on the three initiatives, I ask question number two:

“And how can I help you accomplish that?”

Once again, I hit the mute button and take notes.

If I get an, “Ah, I don’t know,” then I once again use layering questions like:

“Have you heard of my new automated Core Inside Selling Skills Webinar Program?”

Or I ask a good assumptive question like:

“How much of a budget do you have per quarter for sales training?” Or,

“How big of a role do you think increased sales training is going to play?” Or,

“If you could wave a magic wand and get three resources to help you accomplish your goals, what would they be?”

Now I’m sure you can come up with a few of your own questions here, but you get the idea. The point is to ask questions and LISTEN to your prospect’s response. If you respect the pressure they are feeling and truly offer a way to help them, then they will engage with you – and many will even put you to work for them… So try it this week.

Mike is the go-to inside sales trainer and phone script writer in the industry. He is hired by business owners to implement proven sales processes that help them immediately scale and grow Multi-Million Dollar Inside Sales Teams. If you’re looking to catapult your sales, or create a sales team that actually makes their monthly revenues, then learn how by visiting:

Pudgie’s Naked Chicken Co. – Ready to Launch on Long Island

You can own a Pudgie’s franchise.
Call 800. 212. 5416 for all the details on qualifications, costs and available territory.

The next generation of Pudgie’s (Naked Chicken Co.) is about to be launched in Massapequa, Long Island… Don’t miss out on this exciting opportunity! Call today for details and a presentation including the updated menu and decor package.

Pudgie’’s Naked Chicken Co.

Pudgie’s Naked Chicken Co. signature product is Bone-in Skinless fried chicken that contains zero grams of trans fat per serving. Preparing our specialty chicken includes such steps as removing the skin and using a proprietary breading process. By eliminating the skin, Pudgie’s Naked Chicken Co. is able to address consumers’ growing desire for a healthier option, making our chicken lower in fat and cholesterol than traditional fried chicken.
People Love Pudgie’s Naked Chicken Co.

Founded in 1981 in the community of Bethpage, New York, (as Pudgie’s Famous Chicken), George Sanders developed his secret chicken recipe and skinning process. The concept quickly spread throughout Long Island and by 1989 had become a franchise company. In 2007, TRUFOODS LLC, acquired the Pudgie’s brand. After some trial and error and exhaustive research, TRUFOODS, LLC. created the most unique, relevant & quality driven chicken brand in the quick service restaurant industry, Pudgie’s Naked Chicken Co. With the introduction of more “portable” skinless chicken products such as tenders, salads and sandwiches, our concept is more viable and appeals to a broader customer base. TRUFOODS’ success is based on our ability to create new opportunities, build customer base through aggressive and effective marketing, reducing costs, & improve the overall management of the brand.
Why Pudgie’s Naked Chicken Co.?

When you make the decision to join the Pudgie’s Naked Chicken Co. franchise team, you are choosing to go into business with a company dedicated to helping you succeed. Our franchisees benefit from a distinct competitive advantage by bringing a classic yet updated food brand into the neighborhoods they serve. You will not find a better business partner, more committed to your success!

With a growing market awareness built on healthful menu options, cravable, handcrafted food and superior guest service, Pudgie’s Naked Chicken Co. is developing a unique position in the market by exceeding guest expectations. As a result, Pudgie’s Naked Chicken Co. has become a sought after franchise brand by experienced food service operators as well as first time entrepreneurs.

These are just a few of the many reasons why you should consider becoming part of our franchise success story:
Pudgie’s Competitive Advantages

Innovative, Delicious and Unique
Home Meal Delivery
Low Turnkey Cost
Financing Available
Protected Territories
Simple Operation
Proven Business Model
One-Stop Supplier Selection
Marketing and Advertising Programs

Superior Franchise Support

Site Selection & Demographic Analysis
Construction Assistance
Full Training
Group Buying Power
Integrated digital marketing & Advertising Programs
Ongoing Menu Engineering to meet today’s more healthful trends

Training and Support

All franchisees must successfully complete basic training at a certified training store as well as a 14-day training program. The program will cover day-to-day operations, cost controls, staffing, labor controls and management skills. All the training will take place in an operating shop. To assist you in your opening period, we will send one of our Regional Directors of Operations to your unit for 7-10 days.

In addition to your initial training period, Pudgie’s Naked Chicken Co. will provide a support team that will coach you in various facets of construction, equipment, marketing, advertising, staffing and training. Our Regional Directors of Operations will also make regular visits to counsel you on business issues such as operating procedures, inventory, cost control, profitability, and marketing. To ensure consistency, you will have the right to use our Operations Manual and will be provided with marketing and operational updates.
Ideal Candidate

We’re looking for franchise owners who are outgoing and have sales, marketing, and/or management experience, and who are results oriented. A person who can build relationships, lead a team, and who has the motivation to excel! PLEASE NOTE OUR FINANCIAL REQUIREMENTS: The total start-up cost for a Pudgie’s Naked Chicken Co. restaurant is approximately $450,000, not including working capital. Also, please note, $200,000, of the total start-up cost must be unencumbered (not borrowed) liquid capital.

The International Franchise Expo Returns to New York City

June 14, 2013
Media Contacts:
Graham Chapman [email protected] 919-459-8157
Sue Yannello s[email protected] 919-459-8162

The International Franchise Expo Returns to New York City
Thousands in the Tri-State Explore Hot, New Businesses in Franchising!

(Manhattan, June 20, 21, 22) – Thousands of folks in the Tri-State will explore the hot, new businesses in franchising as the International Franchise Expo returns to New York City’s newly renovated Javits Center from Thursday June 20 through Saturday June 22. Even in a down economy, franchising has experienced rapid growth in the past decade (more than 40%), enabling franchise establishments to employ more than 8 million Americans. After 19 20 years in Washington D.C., the IFE moved to the Big Apple last year because of its larger economic market and strong international presence. And due to the show’s unprecedented success in 2012, the IFE returns to New York City for the second straight year.

This year, more than 400 franchise businesses from more than 80 countries will be on display. These businesses include restaurant powerhouses BLIMPIE and Golden Corral, who were major contributors to the more than 7,700 New York based food and accommodation jobs that were added in 2012. Both companies have developed a strong presence in the tri-state area, as the brands combined have helped more than 130 entrepreneurs launch their own business in NY, NJ and CT. And considering Blimpie is approaching its 50th anniversary after getting its start in Hoboken, NJ in 1964, we have plenty of GREAT LOCAL HOOKS TO HELP YOU TELL THIS NATIONAL BUSINESS STORY!

This is a great opportunity for you to interview people who want to buy themselves a job with a franchise…or are tired of the 9 – 5 rat race and want to become their own boss.


Ritter’s Frozen Custard franchise – Creating new ways to attract customers

The Ritter’s Frozen Custard franchise – Creating new ways to attract customers.

Some new & unique flavors in Ritter’s Frozen Custard and Burger Shoppes. Interesting news from QSR magazine
Inspired by consumers’ ever-increasing obsession with the story of their food and everything Food Network–related, Ritter’s Frozen Custard realized last summer that the time had come to spice up its menu and capture this growing market.

Read the entire article at QRS Magazine , click here

Top 10 ways to increase restaurant sales

This article comes from long time franchise expert and restaurateur Jack Benoff.
Simple and insightful….If Restaurant Operators practiced only half of this list they’d see an increase in sales regardless of the economy.

Some of the topics touched on in this article I will cover globally in the IFE Seminar “How to become a Multi-Unit Franchisee” on June 16th at the Jacob Javits Center in NYC. I hope you can make the time to attend.

Top 10 ways to increase restaurant sales


EZ Way #10:
Sell something that your customers don’t normally eat at home, such as Cappuccino or Milkshakes. Benefit: you’ve distinguished yourself from other restaurants and given customers something to talk about. Be famous for something with a signature product.
EZ Way #9:
Give your staff business cards, with their name and a humorous title on them, like Director of Fun. Benefit: your staff feels empowered and handing out business cards to people outside the community is a good way to break the ice and meet people. All business employees have business cards, so is a restaurant that different?
EZ Way #8:
You’ve heard that first impressions count? Maybe so, but when you get home, do you eventually remember the first impression or the last impression? If you said, last impression, then you’ve won a free Krispy Kreme Donut. Recommendation: Make your last impressions count with a great dessert and fabulous coffee. Plus expedite the credit card process and return with the card by addressing your customer by name that’s on the card. Make your exit as important as the entrance by thanking your customers. Note that customers always comment to each other as soon as they leave. What a great meal. What a great dessert.
EZ Way #7:
Lunchtime customers are in a hurry. Respect this by giving them the service they want. An Express Lunch Menu immediately tells your customers that you’re catering to their needs. Recommendation: Believe it or not, lunchtime customers in most restaurants have a :fast food mentality. Give it to them fast. They want in and out. Lunchtime sales will increase when an Express Menu is offered.
EZ Way #6:
Invite, invite, and invite. Be pro-active in inviting people to your restaurant. Everyone else is doing it one way or another via TV, radio and direct mail. But, people would rather have a genuine invitation.Hi, my name is John Doe, I the owner and general manager of the Restaurant. I’m also the Director of Fun, and I’d like to invite your (little league team, adult baseball team, women’s tennis team, kids soccer team, hockey team) to our restaurant. We’ve got a separate dining area if you want it, and the appetizers are on the house.
EZ Way #5:
Teachers. Seems like we’re always going after the students at schools and we forget about the most important profession in the world, those that are partially responsible for education tomorrow’s citizens. Give teachers a special offer to dine at your restaurant. It will be greatly appreciated and you’ll get a huge return on your small investment through word of mouth, let alone the teachers bringing their family members to your restaurant.
EZ Way #4:
Want to increase your to-go lunch sales? Here’s a great tip. Ever been in an office when someone says, Where should we order lunch from? And the person goes to a filling cabinet and pulls out a stack of torn small miniature size menus that require a magnifying glass to interpret the lunch specials. Stand out from the others and do an oversized one or two-color lunch menu. The perception the office staff will get from it will amount in increases in lunch orders. Your menu is one of your most important marketing tools, so let it work wonders for you, especially when it’s placed outside of your restaurant.
EZ Way #3:
You know those business cards that people put in the fishbowls? Those cards represent future visits from customers who are already familiar with you. These folks can be your best marketing ambassadors. Take the business cards and compile a mailing list. Utilize the list to send out thank you notes or invitations for special events such as new product introductions, special samplings and tastings.
EZ Way #2:
Have you ever called your restaurant asking for directions, 98% of the time you’re put on hold, then someone gets on the line and fumbles and mumbles through the ways to get to the restaurant. To prevent this from happening, prepare file index cards with exact directions to your restaurant from all directions. Now, remember that anyone who calls for directions is a new customer. When they call, give them directions, and them say, œwhen you get here, ask for me as I have something special for you.When they arrive at the restaurant, and ask for you, give them a free appetizer along with VIP treatment. You’ll win them over for life and get a lot of good word of mouth from them.
This One’s Really Big.
EZ Way #1:
Just Be Nice! I call it JBN. We forget that we’re in the people pleasing business and all it takes is a smile and a cordial welcome. A couple of “pleases” and a few thank you’s on top of a few smiles goes a lot further than any amount of money that McDonald’s spends on TV. JBN. Just Be Nice. Tattoo it on your arm, your leg or your butt. It’s the foundation of doing business on a people to people level.
For more info visit:
Phone: (215)321-6855 | Fax: (215) 321-4028
[email protected]
[email protected]

Food Franchises that build your sales

Highlights of Entrepreneurship, Leadership and Management – The Disciplines of Enterpriship

Highlights of Entrepreneurship, Leadership and Management – The Disciplines of Enterpriship

Author: Nigel A.L. Brooks

A discipline is field of study and a system of rules governing activities; competence is characterized by knowledge, skills, and experience in the field. Enterpriship competencies include:

• Entrepreneurship – starting, developing, and assuming risk for an enterprise
• Leadership – aspiring, inspiring, and motivating
• Management – directing and controlling events and activities of an enterprise
• Intrapreneurship – fostering a culture of change within an enterprise

Enterprises consist of one of more organizational units. A role within an organizational unit, such as a manager or supervisor, has a certain authority to command or influence within an area of delegated responsibility and span of control. The area can be a business unit, business line, or product line, subdivided as divisions, departments, plants, and branches. Responsibility within the area includes portfolios of activities, which consist of people, processes and functions, and products and/or services, with custody of assets. Individuals are accountable to higher authorities when they are required to report actual performance against plans and policies.

Definitions of roles:

• Entrepreneur – organizes, operates, and assumes risk for an enterprise
• Leader – sets direction that others will follow through commands or influence
• Intrapreneur – agent of change
• Management – overall authority and responsibility for directing and controlling events and activities as a team
• Executive – top line of management and official representative of an enterprise
• Manager – member of the management team, with a well defined area of responsibility in a reporting line to an executive, either as an official or non-official representative of an enterprise
• Entrepreneurial – transforming innovative ideas into value with both a product and/or services and a process orientation
• Leadership – setting direction that others will follow with a people orientation
• Managerial – applying resources to activities to achieve results with a process orientation

Key points:

1. Entrepreneurs intend to earn profits in businesses (“for profit” enterprises) or to give back to the community through not-for-profit associations

2. Entrepreneurs operate in unstructured environments, where there is little or no hierarchy

3. Intrapreneurs operate within structured environments, where there is well-defined hierarchy

4. Managers are responsible for processes in both unstructured and structured environments, which may include the assignment of people resources, but not necessarily

5. Leaders can exist anywhere in the organization from executives to team leaders within functions

6. Managers must be leaders when they are responsible for people

Article Source:

About the Author

Nigel A.L. Brooks is an entrepreneur, business enterprise owner, management consultant, and motivational speaker.

He is president of The Business Leadership Development Corporation, a management consulting firm, that specializes in business strategy, technology strategy, organizational reviews and performance assessments.

Prior to The Business Leadership Development Corporation, he was president of Javazona Cafes, Inc., senior vice president at American Express Company, vice president and partner at Booz Allen Hamilton (now Booz and Company), and a partner at Andersen Consulting (now Accenture).

He has experience in North and Latin America, Europe, and Asia-Pacific in the financial services, food services, manufacturing and distribution, oil and gas, pharmaceutical, wholesale, retail, transportation, and government industries.

His entrepreneurial activities have included establishing a publishing firm, operating a European-style gourmet coffee cafe and catering business, and a health-related business. He has also been a radio show host.

Franchises with Leadership and Management

Are you on the “LOST MONEY” list? Let us help you find out

What is Lost Money?

For your protection, banks, insurance companies, utilities, investment companies and many other businesses are required by State law to surrender inactive accounts to the State. These accounts are known as “lost,” “abandoned,” or “unclaimed” funds.

The Office of the State Comptroller serves as custodian of this money. If you can prove you are entitled to the money, we will gladly return it to you, at any time, without charge. Until the money is claimed, it is used by the State’s General Funds, serving the citizens and taxpayers of the State of New York.