When we think of people who buy franchises, there’s a kind of person that comes to mind: an enterprising, hard-working person who turns to the world of franchising world to own their own business. We don't often think of charities. But franchises are seen are reliable investment, so reliable in fact that non-profits and charity organizations are now investing in franchises.
To me, this is an extraordinary development in franchising. QSR magazine has written a story about the trend, and mention a Nathan’s Famous franchise which was recently purchased by the YWCA of Pittsburgh. They are not the first charity to purchase a franchise: Auntie Anne’s, Maggie Moo’s, and Subway franchises are all owned by non-profits according to QSR.
Charity and non-profits, following the lead taken by Ben and Jerry’s are turning to franchises because they are a solid investment. “We were looking to diversify our investments,” Pittsburgh YWCA CEO Magdeline Jensen told QSR. “And we had a survey showing that more than 160 people walked by our downtown facility every five minutes between the hours of 11 a.m. and 2 p.m. each day.
“It just made sense to us that a well-known quick-service brand offering quality food at a reasonable price point could become a reliable source of income to support our social service programs.”
So franchising is not just making a difference for entrepreneurs, it’s helping to keep charities in business. If you even needed a endorsement for the intrinsic safety of a franchise investment, this story tells you everything you need to know.