Yum! Center for Global Franchise Excellence to create globally scalable program to educate and support entrepreneurs and advance franchising industry
SOURCE: Yum! Brands
DESCRIPTION:
LOUISVILLE, Ky., June 1, 2021 /3BL Media/ – Yum! Brands, Inc. (NYSE: YUM) and the University of Louisville today announced the launch of the Yum! Center for Global Franchise Excellence. The Center will feature 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. In addition, the Yum! Center for Global Franchise Excellence will focus on recruiting and educating underrepresented people of color and women on the possibilities of franchising as a pathway to entrepreneurship.
The creation and funding of the Center is part of Yum! Brands’ global Unlocking Opportunity Initiative, in which 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 world.
“We believe that combining the resources and expertise of the University of Louisville with Yum! Brands will create an unrivaled resource for world-class training in franchising that will help people everywhere, particularly underrepresented people of color and women, succeed in franchise ownership and management," said UofL President Neeli Bendapudi. "We're excited about the new center as it aligns with UofL's commitment to empower our communities and supports our vision to become the nation's premier anti-racist metropolitan research university.”
“We’re proud to partner with the University of Louisville on developing a sustainable, globally scalable program that democratizes exposure to and builds knowledge of the franchising industry for all,” said Scott Catlett, Chief Legal and Franchise Officer, Yum! Brands. “Our hope is the Center will carve a path to economic opportunity and successful ownership for talented, underrepresented people while bringing diverse voices and ideas to the broader franchising community.”
The Yum! Center for Global Franchise Excellence builds on UofL’s existing franchising education tracks within the College of Business, which include a graduate program and an executive-level Franchise Management Certificate. New to the Center is an undergraduate franchising track within the Bachelor of Business Administration program that launched in the Spring 2021 semester. The Center’s 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 on the state of franchising. In addition, to improve equity for underrepresented people of color and women, the Center will:
- actively recruit diverse students to its undergraduate, graduate and executive-level programs offered through the College of Business;
- conduct 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 women;
- create regular podcasts and a practitioner-focused journal to share franchising education and news with franchise owners and managers.
“Franchising is one of the best paths to entrepreneurship, creating an opportunity to build generational wealth,” said Kathleen Gosser, Ph.D., executive-in-residence in the UofL College of Business, where the Center will be based. “Franchise ownership among underrepresented people of color and women is lower than their representation in the population. Our goal is to uncover and reduce barriers to franchise ownership, starting with education.”
The franchising model is strong in the U.S. and globally and makes business ownership accessible to many individuals. By the end of 2021, the International Franchise Association projects the franchising industry will increase to more than 780,000 outlets employing 8.2 million people in the U.S. alone.
“Partnering with UofL on the Yum! Center for Global Franchise Excellence allows Yum! Brands to amplify our world-class franchising model and give more people access to the franchising world and the ability to create generational wealth and a legacy,” said Wanda Williams, Head of Yum! Global Franchising. “Access to the program will also be a wonderful opportunity for new franchisees entering the Yum! Brands system as well as for employees who want to become business owners.”
In addition to Yum! Brands’ recent grant to UofL, the Company also is investing $6 million over five years to advance equity and opportunity across Louisville, particularly in West Louisville, including uplifting Black students, educators, entrepreneurs and social change agents. As part of this, Yum! Brands is working with Nat Irvin, assistant dean in the UofL College of Business, on the university’s Pathways program to help predominantly Pell Grant-eligible high school students at key public schools in Louisville earn college credits from and early admission to UofL.
About the University of Louisville
Founded in 1798, the University of Louisville is a state-supported research university located in Kentucky'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 louisville.edu.
About Yum! Brands, Inc.
Yum! Brands, Inc., based in Louisville, Kentucky, has over 50,000 restaurants in more than 150 countries and territories and more than 2,000 franchisees around the world. The Company’s brands – KFC, Pizza Hut and Taco Bell – are global leaders of the chicken, pizza and Mexican-style food categories. The Company’s family of brands also includes The Habit Burger Grill, a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. Yum! Brands was included on the 2021 Bloomberg Gender-Equality Index and in 2020, Yum! Brands was named to the Dow Jones Sustainability Index North America and was ranked among the top 100 Best Corporate Citizens by 3BL Media.
In 2020, Yum! Brands launched the global Unlocking Opportunity Initiative, which includes a $100 million commitment over five years to promote equity and inclusion, education and entrepreneurship for employees, frontline restaurant teams and communities around the world. Across KFC, Pizza Hut, Taco Bell and The Habit Burger Grill, and in close collaboration with Yum!’s franchisees, the Unlocking Opportunity Initiative builds on more than 20 years of investing in the Company’s people-first culture.
Yum! Brands has been committed to the Louisville community since 1997 when the Company was first created and has contributed more than $60 million to hundreds of local non-profit agencies and charities since then. In addition to the Company’s expanded efforts to address inequality locally, Yum! Brands is the proud naming rights partner of the Louisville-based KFC Yum! Center arena. In addition, the Yum! Brands Foundation continues its long history of supporting Dare to Care Food Bank, Metro United Way and Fund for the Arts in Louisville.
KEYWORDS: NYSE:YUM, Yum! Brands, University of Louisville, Yum! Center for Global Franchise Excellence
